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State Bank of India (SBI) will be investing a total of Rs. 80 billion in Nepal

Apr 09, 2018 17:42 IST
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The State Bank of India (SBI) will be investing a total of Rs 80 billion. The amount will be invested in the Arun III hydropower project of Nepal. This station has 900 megawatts (MW) electricity production capacities. The SJVN has been awarded the construction of the mega power project of Nepal. Soon the SBI will make a formal agreement to acquire the investment as a loan. After the completion of the project, Nepal will get 21.9 percent of the total electricity produced in a year i.e., 197 MW electricity with 86 crore unit for free in a year. The Indian Government, on the other hand, has made the approval of 92 billion rupees that is to be invested by SJVN. With this, the SJVN will invest 25 billion of its own for the mega-project. And will take the charge for 25 years excluding the time for the construction of infra. The mega project is targeted to be completed by 2022’s September.