Kathmandu, September 28 : The consortium of different banks and financial institutions (BFIs) have agreed to invest Rs 5.18 billion in the Upper Chameliya Hydropower Project. An agreement between project promoter Api Power Company and representatives of the BFIs was signed to this end on Sunday (September 27).
The total estimated cost for the 40 megawatt power project is Rs 7.4 billion. It is agreed that the consortium would invest Rs 5.18 billion while the 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 jointly investing in the project.
