Nepal | January 18, 2021

Construction of 37MW Upper Trishuli III B hydel starts

Himalayan News Service
Share Now:

Kathmandu, February 10

With the major stake of Nepal Electricity Authority (NEA) and Nepal Telecom (NT), the construction works of the 37-megawatt capacity Upper Trishuli III B hydropower project has formally started.

In a formal programme organised in Kispang Village Municipality of Nuwakot where the hydropower project is located, Minister for Energy, Water Resources and Irrigation Barsha Man Pun laid the foundation stone of the project today.

Speaking at the programme, Minister Pun directed the project officials to complete the project within the stipulated time. “The project is located close to the capital city and will help ease the increasing demand of electricity in the Valley.”

Managing Director of NEA and Chairman of the project Kul Man Ghising, said that the project will be completed within three years. “We have already signed the contract agreement with a Chinese company called Sichuan Hydraulic and Hydroelectric Engineering to build the project under the engineering, procurement and construction, (EPC) model,” he informed.

As per the contract agreement, the contractor company has been assigned the responsibility to build the entire project, which includes not only the design of the project but also completion of all civil, electromechanical and hydromechanical works. The contractor is also responsible for connecting the power generated by the project to the national grid.

The Trishuli Hydro Power Company Ltd — developer of the project — and Nabil Bank had signed an agreement to provide necessary loan to the project on August 22 last year.

Nabil Bank along with Hydropower Investment and Development Company Ltd (HIDCL), Citizen Investment Trust (CIT) and Nepal Bank have agreed to provide a loan of Rs 5.76 billion to the project.

As per the agreement, Nabil Bank will be providing loan worth Rs two billion. Similarly, HIDCL and Nepal Bank have agreed to provide Rs 1.50 billion and Rs 1.10 billion, respectively.

CIT will also be providing loan worth Rs 1.16 billion.

Though the actual construction cost of the project stands at Rs 7.44 billion, the total cost of the project will stand at Rs 8.22 billion including interests of Rs 780 million. Of the total investment, 30 per cent or Rs 2.46 billion has been managed through equity.

Both NEA and NT have 30 per cent share each in the project while five per cent is owned by the rural municipalities and municipalities of Rasuwa and Nuwakot districts. A further five per cent share has been allotted to local financial institutions of Rasuwa and Nuwakot and 10 per cent to the locals of the two aforementioned districts. Meanwhile, 15 per cent share has been allocated to the general public and five per cent to NEA and NT employees.

The Upper Trishuli III B is a cascade project of the Upper Trishuli III A project.


A version of this article appears in print on February 11, 2019 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

CM Raut casts doubt over apex court’s role

RAJBIRAJ, JANUARY 16 Province 2 Chief Minister Lalbabu Raut today said though the Supreme Court verdict should be acceptable, circumstances in which the Parliament was dissolved were suspicious. Addressing the 10th General Assembly of Saptari chapter of Federation of Nepali Journalists at Bana Read More...

Home Minister Thapa defends dissolution of Parliament

DHANKUTA, JANUARY 16 Home Minister Ram Bahadur Thapa said that dissolution of the Parliament was an imperative for the sake of political stability. Addressing a district-level meeting of party cadres in Dhankuta today, the Nepal Communist Party (NCP) leader claimed that the prime minster h Read More...

Security tightened at border points in Banke

NEPALGUNJ, JANUARY 16 District Administration Office, Banke, has tightened security to prevent the possible spread of bird flu in Banke. The DAO took the decision after bird flu was found in different states of India. The DAO has banned import of birds and poultry-related items from India. Read More...

Mexico records deadliest coronavirus week yet with 7,000 deaths

MEXICO CITY:  Mexico has registered its worst week yet of the pandemic, with a record number of infections from the new coronavirus and more than 7,000 COVID-19 deaths, government data showed on Saturday. There were 20,523 new coronavirus cases and 1,219 more fatalities on Saturday, push Read More...

Price of precious metals fall

KATHMANDU, JANUARY 16 The price action of precious metals in the trading week of January 10 to 15 suggests investor indecision and impending volatility in the international markets. According to the rate list of the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), gold Read More...

Sherpa, Acharya take lead

KATHMANDU, JANUARY 16 Pemba Sherpa and Sadbhav Acharya took lead after the first day of the Indian Ambassador’s Invitational Golf Tournament here at the Gokarna Golf Club today. Played under stabelford 3/4 handicap format, the seven-handicap amateur golfer Sherpa earned 39 points to stay Read More...

APF register huge victory

KATHMANDU, JANUARY 16 Abinash Bohara took five wickets and Asif Sheikh scored half century as Nepal APF Club thrashed Province-1 by 135 runs in the Group A match of the PM Cup National Men’s Cricket Tournament here at the TU Stadium today. Batting first, APF were all out for 243 runs in Read More...

Tikapur carnage convict says he will revolt for justice

DHANGADI, JANUARY 16 Laxman Tharu, who has been sentenced to life imprisonment for his role in the Tikapur carnage by the High Court, said he would start a revolt for justice. Tharu, who had been underground following the High Court’s verdict, informed about his preparations to take up a Read More...