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Employees’ Provident Fund Provides CHCL With Rs 16 Billions
By KTM Metro Reporter
June 8, 2011: The Employees’ Provident Fund (EPF) and the Chilime Hydropower Company Limited (CHCL) have signed off a memorandum of understanding (MoU) for a loan of Rs. 16.05 billions to build four hydropower projects in Rasuwa and Sindhupalchowk districts, ‘gorkhapatra’ and ‘The Rising Nepal’ of today write. The loan carries the interest of 12.5 percent.
CHCL will build four hydropower projects such as Sanjen (42.5 MW), Upper Sanjen (14.5 MW) and Rasuwagadhi (102 MW) in Rasuwa and Middle Bhotekoshi (100 MW) in Sindhupalchowk districts. The total installed capacity is 259 MW. The estimated cost of four projects is about Rs. 32 billion. Promoters and shareholders will provide other half of the total cost. All four projects will be completed by 2016.
CHCL, Nepal Electricity Authority, concerned district development committees and village development committees, and local financial institutions will be the major promoters of all four projects.
CHCL is the subsidiary of Nepal Electricity Authority (NEA). It has been running a 22.1 MW hydropower project in Rasuwa with 51 per cent share of NEA, 14 per cent of general public, 10 per cent of locals and 25 per cent of the NEA employees.
NEA will sign a power purchase agreement (PPA) with CHCL within six months.
