Prime Minister Jhala Nath Khanal has inaugurated the Hydropower Investment & Development Company Ltd, set up by the government to channelise investments in hydropower sector, amid a function on Tuesday.
With the inauguration, the hydropower investment and development company has started operation from its office in Babarmahal Tuesday.
The company has been set up with an issued capital of Rs 10 billion. Nepal Government has invested Rs 5 billion from the unspent amount in the previous year's development budget.
Employees Provident Fund, Citizen Investment Fund and National Insurance Board have invested Rs 1 billion each. Rs 2 billion will be sold to the public as general share.
The company said, it will invest only in hydropower projects more than 25 MW and invest only amounts more than Rs 250 million.
Addressing the inaugural function on Tuesday, PM Khanal advised the company to rethink its policy on investing only on projects above 25 MW.
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