Construction and financial management modalities of Budhi Gandaki to be determined

KATHMANDU, NOVEMBER 17: The Ministry of Energy has held a discussion meeting to determine the construction and financial management modalities of the Budhi Gandaki Hydropower Project. It was held today in the capital following the instructions on the part of Prime Minister Puspa Kamal Dahal to immediately move the national pride project forward.

“During the meeting, Minister for Energy Shakti Bahadur Basnet directed the CEO of Budhi Gandaki Hydropower Company, Jagat Shrestha as well as other high-placed officials of the ministry to finalise the equity structure of the project. Similarly, they instructed to assess the potential of monetary investment from the Employee Provident Fund, Citizen Investment Fund, Nepal Telecom and Bank and Financial Institutions (BFIs), among others, in the project.   Also, Minister Basnet told them to initiate a process to select an international-level consultant and a manager for the project.

The total cost of this 1200-MW project is estimated at Rs 380 billion. Of the total figure, Rs 73 billion will be spent on land compensation, reestablishment, and resettlement.

The government plans to accomplish the Budhi Gandaki hydel within 8 years by totally mobilising internal financial resources.