Credit facilities agreement for Sanjen Khola Hydel Project
By A Staff Reporter
Kathmandu, June 15: Nepal Investment Bank Limited (NIBL) and the member banks have signed a credit facilities agreement of Sanjen Khola Hydropower Project.
The Sanjen Khola Hydroelectric Project is now being developed by Salasungi Power Limited, a company promoted mainly by China Harbour Engineering Company Limited (CHEC), China.
The company’s Sanjen Khola Hydroelectric Project, a run-of-river project, is located in Rasuwa district, State-3 along the Sanjen Khola, the snow-fed river.
The project cost is estimated at Rs. 13.20 billion with a 70:30 debt-equity ratio financing. The consortium led by NIBL has Kumari Bank and Citizen Bank as partners with 92 per cent of the equity being held by CHEC and 8 per cent by the Nepali partners.
The project is estimated to generate 78 megawatt power with a design to discharge of 9.10 cusec per second and the Net Head of about 1,000 metres.
CHEC, one of the fortune 500 companies, is a subsidiary of China Communications Construction Company Limited having a presence in over 800 countries holding experience construction, environmental, hydraulic engineering, power plant and energy.
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