Financial closure of Super Dordi Hydro

Kathmandu February 29– Nabil Bank has announced the successful arrangement of the largest loan syndication ever among banks in Nepal for a private sector led project under Nabil Bank’s leadership. The Facilities Agreement for financing the 49.60 MW Super Dordi Hydropower Project – B was signed at a function on February 26, it said in a statement, on Sunday.

The project is located at Phaleni and Dhodeni VDCs in Lamjung district and is being developed by Peoples Hydropower Company Pvt Ltd. The total cost of the project is estimated at Rs 8.3 billion with bank financing of Rs 5.8 billion. This is the largest hydropower project being built in the country by domestic private sector investors financed by domestic banks.

A consortium was formed to finance the project with Nabil Bank as lead manager and Everest Bank and Global IME Bank as co-leads. The other participants in the consortium are Rastriya Banijya Bank, Prabhu Bank, Employees Provident Fund, Hydroelectricity Investment and Development Company Ltd, Triveni Bikas Bank and Deva Bikas Bank. Keshav Bahadur Rayamajhi, managing director of Peoples Hydropower, signed the agreement on behalf of the company.