KGHP financial closure concludes
KATHMANDU: NMB Bank has successfully executed financial closure of Kalanga Gad Hydroelectric Project (KGHP) having an installed capacity of 15.33MW. The project being developed by Kalanga Hydro P Ltd, is located in Sukunda, Bajh and Khairatadi VDCs of Bajhang district, Seti zone of far western region of Nepal, as per a media release issued on Wednesday. The project under the lead of NMB Bank includes NIC Asia Bank, Civil Bank, Janata Bank Nepal, Deva Bikas Bank and Jyoti Bikas Bank as consortium member banks. The total project cost stands at Rs 2.80 billion, out of which Rs 2.10 billion has been managed by the consortium debt. The financial closure of Kalanga Gad Hydroelectric Project places NMB Bank as the forerunner in financing the hydropower project.