Investment Board Approves Rs. 141 Billion for 3 Hydropower Projects
November 29, 2024 | Investopaper
The Investment Board has approved an investment of Rs. 141.13 billion in three hydropower projects.
During a board meeting chaired by Prime Minister KP Sharma Oli on Thursday, the board sanctioned this investment for the Budhigandaki, Jagadulla, and Chainpur Seti hydropower projects. The meeting provided approval worth investment worth Rs. 70 billion for the 341 MW Budhigandaki project, Rs. 23.59 billion for the 106 MW Jagadulla semi-reservoir project, and Rs. 47.54 billion for the 210 MW Chainpur Seti project.
Additionally, the board has approved a restructuring of the shareholding in Samrat Cement Industry. Samrat Cement had submitted a request for this restructuring due to a previous high number of shareholders. Following the changes, Chaudhary Group will hold 74.8 percent of the shares, Anil Rungta will have 15 percent, Topendra Kumar Sharma will possess 2 percent, and Kamper Finance will account for 11 percent.
