Credit facilities agreement for Sanjen Khola Hydel Project
By A Staff Reporter
Kathmandu, June 15: Nepal Investment Bank Limited (NIBL) and the member banks have signed a credit facilities agreement of Sanjen Khola Hydropower Project.
The Sanjen Khola Hydroelectric Project is now being developed by Salasungi Power Limited, a company promoted mainly by China Harbour Engineering Company Limited (CHEC), China.
The company’s Sanjen Khola Hydroelectric Project, a run-of-river project, is located in Rasuwa district, State-3 along the Sanjen Khola, the snow-fed river.
The project cost is estimated at Rs. 13.20 billion with a 70:30 debt-equity ratio financing. The consortium led by NIBL has Kumari Bank and Citizen Bank as partners with 92 per cent of the equity being held by CHEC and 8 per cent by the Nepali partners.
The project is estimated to generate 78 megawatt power with a design to discharge of 9.10 cusec per second and the Net Head of about 1,000 metres.
CHEC, one of the fortune 500 companies, is a subsidiary of China Communications Construction Company Limited having a presence in over 800 countries holding experience construction, environmental, hydraulic engineering, power plant and energy.
Of late, our universities are losing the public trust because of the various malpractices existing there. There is confusion among the public as to which...