CG plans mega projects

Kathmandu, November 6:

Chaudhary Group (CG), the business house that has 137-year history, is slowly changing its gear and entering into the service sector. However, its involvement in the manufacturing sector will continue. Not only that CG is planning a mega cement project and three hydro power projects.

“We are in a process to get licence for three hydropower projects,” announced Binod Chaudhary, president and managing director (PMD) of Chaudhary Group talking to the media persons here today.

CG, a company with a turnover of around Rs 20 billion, has also been contributing a huge amount to the welfare of society as its Corporate Social Responsibility (CSR).

Nirvana Chaudhary, executive director of the group that has involvement in various business and economic activities, speaking on ‘today and tomorrow of the Group’ informed that CG has a 20 per cent growth in its FMCG division. “Our electronics business has also grown by 35 per cent over the past five years,” he said adding that CG Finco, a subsidary of CG, has been a key contributor in reducing the 80 per cent of the remittance funds, which were channelled through unofficial routes to 40 per cent. The remittance business contributes 20 per cent to Nepal’s GDP.

Earlier, Mahesh Raj Pant, GM of the CG gave a welcome speech.