Employees Provident Fund constructing 680 MW Karnali Hydropower
KATHMANDU: Nepal Government on Sunday has given approval to the Employees Provident Fund to construct 680 MW Karnali Hydropower Project on the latter's funding.
Energy Ministry Secretary Anup Kumar Upadhyay today handed over a permission letter to Fund Administrator Krishna Prasad Acharya for the production survey of 'Betan Karnali Depositors Hydropower Limited'.
Preparations are being made to complete the survey works in the first two years and undertake the construction within five years.
The EPF would invest Rs 1.29 billion from its income of fiscal year 2015-16 in the first phase of the project.
The estimated cost of the project is Rs 80 billion.
Around 40 per cent share of the project would be offered to the depositors of EPF.