MYAGDI: The Malaysian Serba Dinamik Company says it will invest in the 57.3-megawatt Myagdikhola Hydroelectricity Project to be constructed in Dhaulagiri Rural Municipality.
The promoter Hydro Visual Pvt Ltd and Malaysian company have signed agreements to purchase shares, engineering and construction purposes.
Dr Mohammad Abdullah from Serba and Managing Director Sushil Pokharel of the promoter company, have signed and exchanged the documents.
The estimated cost of the project is $100 million.
It should be noted that the PPA agreement for the construction was held in August last year.
According to the agreement, the project will start generating power in five years.
The Nepal Electricity Authority (NEA) will purchase per unit power at Rs 8.40 in winter and Rs 4.80 in the rainy season.
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