March 18: A Malaysian company is going to invest in the Myagdikhola Hydroelectricity Project to be constructed in Dhaulagiri Rural Municipality, according to media reports.
The Malaysia-based Serba Dinamik and the promoter of the project, Hydro Visual Pvt Ltd, have inked the agreement to the effect.
The very deal, signed by Dr. Mohammad Abdullah from Serba Dinamik and Sushil Pokharel, Managing Director, Hydro Visual on behalf of their respective organizations, pertain to the shares, engineering and construction aspects of the project. Its estimated cost stands at around 100 million US Dollars.
The PPA agreement for the construction of this 57.3-megawatt project was made in August in 2019. According to it, the project will start generating power in five years. The generated electricity is agreed to be sold to the Nepal Electricity Authority at Rs 8.40 per unit in winter and Rs 4.80 in the rainy season.
