Nepal | September 24, 2020

Betan Karnali DPR to be completed by August

Himalayan News Service
Share Now:

Kathmandu, April 23

The Employees Provident Fund (EPF) has said that the works related to the detailed project report (DPR) of the 425-megawatt peaking-runof-the-river type Betan Karnali hydropower project will be completed by August.

Works related to the DPR and the Environmental Impact Assessment are being carried out by NEA Engineering Company, a subsidiary of Nepal Electricity Authority (NEA).

To develop the project, EPF had started collecting funds from its members since fiscal 2016-17. The fund had urged its members to invest the cash dividend that it had distributed in the project, which a majority agreed to. At present, it has collected around Rs 4.32 billion for the purpose.

The EPF had asked depositors to invest their cash dividend in the project from fiscal 2015-16 and has been converting the cash dividend into shares of the hydro company.

The EPF has 600,000 depositors and it has committed to generate equity investment of around Rs 21 billion for Betan Karnali. Out of the total estimated investment of around Rs 70 billion, 30 per cent or Rs 21 billion will be share capital and 70 per cent or Rs 49 billion will be loan investment. Earlier, Nepal SBI Bank and Nabil Bank had made a commitment to provide Rs 25 billion under consortium financing for the project.

According to Rajendra Kafle, joint administrator of EPF, it is planning to complete the project within five years of the DPR being finalised.

The developer of the project is Betan Karnali Sanchayakarta Hydropower Co Ltd.

As per EPF, out of the projected Rs 21 billion equity investment, 40 per cent will be mobilised from member depositors, 15 per cent through institutional investment of EPF, 10 per cent from the generation company — Betan Karnali Sanchayakarta Hydropower Co Ltd, 10 per cent from Nepal Electricity Authority, 10 per cent shares will be allotted to the project-affected locals and 15 per cent will be allotted to the public through initial public offering.

The project will be located in Surkhet district. The initial projected capacity of the project was 688 megawatts but it was reduced as it could affect the 10,800MW Karnali Chisapani Hydropower Project that is located downstream.

The Karnali Chisapani project is expected to be the largest energy project in the South Asian region.

A version of this article appears in print on April 24, 2019 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Nepal denies claims of construction by Chinese side within its territory

KATHMANDU: The Ministry of Foreign Affairs (MoFA) has denied claims of construction of buildings by China within Nepali territory between Nepal-China boundary pillars. Issuing a statement on Wednesday, MoFA stated that it has taken note of media reports on alleged construction between Nepal-China Read More...

Chinese encroachment in Humla? China denies it, so does MoFA

Buildings have been built at a distance of around two kilometres from the border in Lapcha Limi area of Namkha Rural Municipality in Humla: NC lawmaker Rangamati Shahi KATHMANDU, SEPTEMBER 23 China has allegedly built at least nine buildings on Nepali land near Nepal-China border in Humla distri Read More...

Supreme Court tells government not to induct Gautam in Cabinet

KATHMANDU, SEPTEMBER 23 The Supreme Court today ordered the government not to induct Bamdev Gautam in the Cabinet or assign him any such post till the apex court issued another order in the case. Gautam was recently nominated to the National Assembly by the president on the government’s recommend Read More...

Overnight wait for PCR test for scores

KATHMANDU, SEPTEMBER 23 Sukraraj Tropical and Infectious Disease Hospital at Teku has been seeing a surge in the number of people visiting the hospital for polymerase chain reaction test. The number of people visiting the hospital for the tests has drastically increased after the government al Read More...

Surge in covid patients requiring ventilator support across Nepal

KATHMANDU, SEPTEMBER 23 There has been a steady rise in the number of patients, who need ventilator support and intensive care in the course of treatment of the coronavirus disease, across the country. According to the Ministry of Health and Population, 43 persons have been given ventilator ca Read More...

Mountaineer Ang Rita Sherpa cremated

KATHMANDU, SEPTEMBER 23 Hundreds of government officials, mountaineers, fellow Sherpa guides and supporters gathered in Nepal today to mourn the veteran guide who scaled Mount Everest 10 times without supplimentary oxygen. The body of Ang Rita was cremated today according to Buddhist ritua Read More...

Rainfall likely to continue for three more days

KATHMANDU, SEPTEMBER 23 The Meteorological Forecasting Division has predicted moderate to heavy rainfall with thunder and lightning throughout the country till Saturday. “A low-pressure area is now located over Chhattisgarh state of India and is advancing to the west and north-west of Nepal, Read More...

Government issues procedure to establish information, record centre at local levels

KATHMANDU, SEPTEMBER 23 The Government of Nepal has issued ‘Procedure on Establishment and Operation of Information and Records Centre’ for local levels. The procedure will come into effect after it is passed by the executive of the concerned local unit. It aims to make the service deliver Read More...