Kathmandu, June 13
A financial closure agreement has been
signed for the Upper Mewa Khola Hydropower Project under the leadership of
Global IME Bank Limited.
The agreement was inked between the
project’s promoter company, Saurya Holding Pvt. Ltd., and the bank for
financial management, GIBL informed in a statement on Friday.
According to the agreement, a consortium
led by Global IME Bank with participation from Laxmi Sunrise Bank will invest Rs.
4.857 billion in the project.
The agreement was signed in the presence of
GIBL's CEO, Surendra Raj Regmi, by Kalyan Bikram Pandey, Chief Business Officer
of the bank, Manish Raj Kunwar, Chief Business Officer of Laxmi Sunrise, and
Mohan Bikram Karki, Managing Director of Saurya Holding.
Speaking on the occasion, Regmi expressed
confidence that the project would be completed within the stipulated timeframe,
contributing to increased energy production in the country and promoting
exports.
The estimated cost of the 31.92 MW
hydropower project, to be constructed on the Upper Mewa River in Taplejung
district, is Rs. 6.37 billion.
According to the agreement, the banks will
provide 75 per cent of the investment, while the remaining 25 per cent will be
invested by Saurya Holding through proceeds from its rights issue.
The project is expected to be completed
within three years from the commencement date.
Published in The Rising Nepal daily on 14 June 2025.
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