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Govt build Budhigandaki Hydro Project on its own : Energy Minister Pun

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KATHMANDU — The government is set to initiate a bidding process for the construction of Budhi Gandaki Hydropower Project from the coming fiscal 2018/19.

At a programme organized at the Ministry on Tuesday, Minister for Energy, Water Resources and Irrigation Barsha Man Pun has said that the government will build the 1200 MW Budhigandaki Hydropower Project on its own and the tender process for the project will begin from next fiscal year.

“Necessary preparations are being made in a way to initiate the project construction process in the coming fiscal year,” Minister Pun said.

Budhigandaki is currently the only ready-to-implement reservoir-based hydropower project. The project’s Detailed Project Report (DPR) and tender documents are ready, according to officials.

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The erstwhile government had decided to construct the project with the capacity of 1,200 MW with Nepali investment. The Nepali Congress-led government had also decided to provide grant of Rs 100 billion to the project to make it investment worthy. Total estimated investment of the project is Rs 273 billion.

On the occasion, Minister Pun expressed commitment that he would not make any decision to award the contract for the project construction to any foreign company or agency. The government has put the project in the list of national pride.

Minister Pun informed that the government is currently exploring the sources of financing. The project’s estimated cost is Rs 259 billion.

With RSS Inputs

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Economy

NEPSE stabilises

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KATHMANDU- The Nepal Stock Exchange (Nepse) index has stabilised to some extent as compared to the first trading day on Sunday when it suffered a sharp dip.

The NEPSE index increased 0.9 points to close at 1131.73. Likewise, the sensitive index, which measures the performance of group ‘A’ stocks has also risen 0.06 points.

Over 2 million shares of a total of 156 companies were traded at more than Rs 637 million. Of the total 11 subgroups, four made gains, and the rest seven declined.

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Development bank surged 4.7 points, while non-life insurance 92.1 points, life-insurance 13.57 points and others 0.43 points.

But, banking dipped 0.27 points, while trade 1.18 points, hotel 2.04 points, hydropower 2.17 points, finance 1.82 points, production 9.21 points and microfinance 8.31 points.

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