Upper Trishuli 1 project developer seeks approval for funding
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Kathmandu, Nov. 8 -- Nepal Water and Energy Development Company, which is developing the Upper Trishuli 1 hydropower project, has begun paperwork to get approval from Investment Board Nepal and the central bank to bring $453 million in debt money for its construction.
Last week, a consortium of nine international lenders agreed to finance the debt portion of the $674 million hydroelectric scheme. The proposed 216 megawatt plant is located in Rasuwa district north of Kathmandu.
"We have began the paperwork by applying for approval from Investment Board Nepal," said Giri Raj Adhikari, general manager of the project. "Board officials said it would take around two weeks to conclude the first round of assessment before they forward our appli...
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