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- A financial closure agreement has been signed for the construction of 32-MW Upper Mewa Khola Hydropower Project, Taplejung
- Global IME Bank and Laxmi Sunrise Bank will jointly invest Rs 4.85 billion (75%)
- The estimated cost of the project is Rs 6.37 billion
- Saurya Holdings Pvt. Ltd. is the promoter company
Kathmandu, June 13: A Syndicated Loan Agreement (SLA) has been signed for the 32-MW Upper Mewa Khola Hydropower Project under the leadership of Global IME Bank Limited.
The agreement was signed between the project’s promoter company, Saurya Holdings Pvt. Ltd., and the bank for financial management.
As per the agreement, a consortium led by Global IME Bank, with participation from Laxmi Sunrise Bank, will invest Rs 4.85 billion in the project.
The signing ceremony took place in the presence of Global IME Bank CEO Surendra Raj Regmi, and the agreement was signed by Chief Business Officer of Global IME Bank Kalyan Bikram Pandey, Chief Business Officer of Laxmi Sunrise Bank Manish Raj Kunwar, and Managing Director of Saurya Holdings Pvt. Ltd. Mohan Bikram Karki.
CEO Regmi expressed confidence that the project will be completed within the scheduled timeframe, contributing to increased national energy production and supporting electricity export.
The 31.92-megawatt project will be constructed on the Upper Mewa Khola in Taplejung district. The estimated cost of the project is Rs 6.37 billion.
According to the agreement, 75% of the investment will be financed by the banks, while the remaining 25% will be contributed by Saurya Holdings through rights shares.
The project is expected to be completed within three years from the start of construction.
Global IME Bank
Global IME Bank has been recognized as Nepal’s Best Bank under the Best Bank Award 2024 by Global Finance and the Euromoney Award for Excellence 2024. The bank has also received multiple national and international awards in various categories.
Global IME Bank is the first private commercial bank with branch coverage across all 77 districts of Nepal. It operates through more than 1,000 service centers, including 352 branch offices, 385 ATMs, 158 branchless banking units, 68 extension and revenue collection counters, and 3 international representative offices.
In addition to offering comprehensive banking services to Nepali citizens, the bank also provides remittance services from several countries, including the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, India, Jordan, and others.
Laxmi Sunrise Bank
According to the latest information, the Laxmi Sunrise Bank has a total assets of 417.9 billion, total loans as Rs. 287 billion, total deposits as Rs. 350 billion, paid-up capital as Rs. 24.3 billion and 254 branches. #nepal #hydro #MewaKhola
