EPF to finance Rs 13.75 billion in Tamaksohi V project

KATHMANDU: Employees’ Provident Fund (EPF) has signed an agreement to invest Rs 13.75 billion for the development of the Tamakoshi-V Hydroelectric Project.

Nepal Electricity Authority (NEA), Tamakoshi Jalavidyut Company Ltd (TJCL) and EPF signed an agreement for loan financing in Kathmandu on Sunday.

NEA’s Executive Director Kul Man Ghising, EPF’s Chief Administrator Jitendra Dhital and TJCL’s CEO Binod Bhattarai signed the agreement on behalf of their respective companies.

TJCL is a subsidiary of NEA formed to execute the 99.8 MW project. The estimated cost of the project is Rs 21.13 billion.

The run-of-river project is based in Bigu Rural Municipality of Dolakha.