Government decides to construct Budhigandaki Hydel Project through domestic investment
Kathmandu, 3 September: The government has decided to construct the Budhigandaki Hydropower Company by establishing a company. The government has registered a company for this purpose.
The 1200 MW reservoir model hydropower project will be constructed through domestic investment, in which the Ministry of Energy, Water Resources and Irrigation will have 50 per cent of the share, the Ministry of Finance 30 per cent and Nepal Electricity Authority 20 per cent ownership of Rs. 16 billion.
Founder shares of the company may not be sold or mortgaged for five years from the date of commencement of business. However, this provision will not hinder the addition of new founders by changing the existing share structures.
The shares owned by the government of Nepal cannot be sold or transferred to any other organisation except for the bodies under the government of Nepal, the provincial governments or the local levels.
People’s News Monitoring Service
Comments:
Leave a Reply