Butwal Power Company ties up with chinese companies for a new joint venture; All set to build two projects
Mon, May 7, 2018 1:45 AM on External Media, Latest, Stock Market,
Butwal Power Company is all set to start a new joint venture as it has joined hands with SCIG International Nepal Hydro Joint Company and other 3 chinese companies regarding the same.
The hydropower company had recently notified Nepal Stock Exchange (NEPSE) regarding the agreement.
The joint venture has purchased the entire shares of ‘Himtaal Hydropower Limited’ and for which the agreement has also been made with the foreign investors of the company i.e. GMR Energy Limited and also with the domestic shareholder company.
As per the information received, BPCL will have 19.4% holding of the hydropower company.
Himtaal Hydropower Limited was established to build 600MW upper Marshyangdi-2 in Marshyangdi river.
Also, the joint venture has acquired all the holdings of Manang Marshyangdi Hydropower Company Limited. It was established to build a 282MW Manang Marshyangdi Hydropower project. Following the acquisition, the agreement with the domestic shareholder of the company was made on Chaitra 15, 2074 while agreement with the foreign shareholder of the company i.e. Rajratna Energy Holdings Pvt Limited was made on Chaitra 12, 2074.