KATHMANDU, FEBRUARY 16
NMB Bank has inked a memorandum of understanding (MoU) with Remit Hydro Ltd to finance Ghunsa Khola Hydroelectric Project (77.5 MW) located at Taplejung district. Hydroelectricity Investment and Development Company Ltd and equity collected from people working abroad (remittance) are the major promoters of Remit Hydro Ltd.
This project has been included in the 'Janata Ko Jalvidhyut Karyakram' by the government, as per a press statement.
With experience of financing around 46 hydropower projects, NMB Bank shall lead the project under consortium arrangement with inclusion of other banks and financial institutions to finance the project.
The total cost of project is estimated at Rs 18.25 billion.
A version of this article appears in the print on February 17, 2022, of The Himalayan Times.
