Economy, Market Watch
Mutual Fund for Hydro Electricity
Published by Octron on November 4, 2009
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Even being the second richest country in water resource of the world, Nepal is experiencing long hour load shedding and people are forced to compromise with the darkness. It’s because of low production of electricity far down from potential. In this milieu, Mutual Fund [learn more about Mutual Fund] for hydro projects of around 500 MW has sought to exist in Nepal. For the production of electricity, HSL Capital will be established akin the Mutual Fund principle.
The HSL Capital will hold of national and international investment including capital from India, Canada, Norway and Singapore, said the chairman of Fund. However, the Fund will adapt the provision and regulation of Mutual Fund which is yet to come in to action through consent of regulating bodies of Nepal.
The fund will be started with Rs. 1 billion capital together with skilled human resource in the field and interested investors. The fund sought to collect capital for next three months but the consent for investment has reached to Rs. 6 billion, said the chairman of Fund, Pradhan. He added that, the fund will have around 250 big investors and hundreds small investors. It has planned its projects on MailKhola (10 MW), Charanawati (4 MW), Barmachi (4.2 MW), Upper Ankhu (42 MW), and Kaligandaki (250 MW).
Source: Jamb
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