May 14, 2021 | Investopaper
The 42 MW Mistri Khola Hydroelectric Project in Annapurna Gaonpalika-4 Narchang of Myagdi has been connected to the national transmission line since Thursday. The project has started transmitting electricity to the national line through Dana substation.
The project started on Jestha 31, 2073 [June 13, 2016]. The 2,270.5 meter tunnel of the project had a breakthrough in 2076 BS. A powerhouse has been constructed on the left bank of Kaligandaki river in Beshigaun of Narchang. A 23-meter high dam has been constructed at the confluence of the Nilgiri and Ghalemdi rivers.
Two underground sand canals with a length of 115 meters, a width of 8.5 meters, and a depth of 13 meters have been constructed. A 1,500 two-meter round penstock pipe has been connected from the outlet to the dam.
The estimated cost of the project is Rs 5.64 billion. Apart from the promoter, Nepal Investment Bank has invested Rs 700 million, Hydropower Investment & Development Company Rs 1 billion, and Nepal Bank Rs 500 million. Similarly, Nabil Bank has invested Rs 1 billion, Laxmi Bank Rs 400 million, Siddhartha Bank Rs 300 million, and Ace Development Bank Rs 300 million.
A total of 703,512 shares have been distributed to the residents of Narchang, the construction site of the project, and ten lakh shares to the residents of seven other wards of Annapurna village municipality in the affected areas. The company has also already issued the shares to the general public.
The Department of Electricity Development had given electricity generation license in 2064 BS. Mistri Khola is the largest project constructed in Myagdi so far.