April 15, 2022 | Investopaper
NMB Bank Limited and Hydroelectricity Investment and Development Company (HIDCL) will invest in the 42 MW Upper Madi ‘A’ Hydropower Project. An agreement has been reached between the bank, HIDCL and the promoter company to invest in the project. As per the agreement, HIDCL under the leadership of NMB bank will invest 70 percent of the total cost of the project.
The Modi Hydropower Company is constructing the project in Annapurna rural municipality of Kaski. The estimated cost of the project is Rs. 9.08 billion. Of which, Rs. 6.36 billion will be financed through loan investment. Likewise, the remaining amount will be injected through the equity investment.
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