Banks to invest Rs 5.18 billion in Upper Chameliya Hydro Project

Khabarhub

September 27, 2020

< 1 MIN READ

Banks to invest Rs 5.18 billion in Upper Chameliya Hydro Project

Chameliya Hydropower Project has attracted investment of different banks and financial institutions. (Photo for Representation: newsnrn.jpg)

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KATHMANDU: Several banks and financial institutions have agreed to invest Rs 5.18 billion in the Upper Chameliya Hydropower Project.

Project promoter Api Power Company and representatives from banks and financial institutions signed an agreement to this end.

The total estimated cost for the 40 megawatt power project is Rs 7.4 billion.

It is agreed that the banks and financial institutions would invest Rs 5.18 billion while remaining Rs 2.22 billion would be managed by the promoters.

Himalayan Bank, Employee’s Provident Fund, Rastriya Banijya Bank, Nepal Bank, Nepal Bangladesh Bank and Century Commercial Bank are investing in the project.

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