The financial management for the Upper Tamakoshi Hydro Electricity Project (UTKHPL) was completed on Thursday following the agreement between Nepal Telecommunications Authority (NTA) and UTKHPL amid a function in the capital.
The agreement was signed between Mrigendra Bahadur Shrestha, CEO of UTKHPL and Kanhaiya Lal Gupta, managing director of NT in the presence of Energy Minister Gokarna Bista and Information and Communications Minister Agni Prasad Sapkota.
As NEA agreed to provide 30 percent stake share in Trisuli 3B hydropower project to NTA, both the parties signed an agreement for Rs. 6 billion loan investment of the project.
The total projected cost of the 456-MW project is Rs. 35.29 billion. Employees’ Provident Fund (EPF) is investing Rs. 10 billion while Rastriya Beema Sansthan (RBS) and Citizen Investment Trust (CIT) are investing Rs. 2 billion each in the project and the remaining loan amount will be provided by the government.
NEA will have 41 percent, NT six percent, RBS and CIT two percent each share for the project.
Similarly, the public will have 15 per cent, locals of the Dolakha district will have 10 per cent, and the EPF, employees of hydropower, NEA and the employees of the lending organization will have 24 per cent stake in the project. The project is expected to be completed by 2015.
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