Banks investing Rs 5.18 billion in Upper Chameliya Hydro Project

27 Sept, Kathmandu : Different banks and financial institutions have agreed to invest Rs 5.18 billion in Upper Chameliya Hydropower Project.  An agreement between project promoter Api Power Company and representatives from banks and financial institutions was signed to this end on Sunday.

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.