Construction ofMid-Modi Hydropower Project begins, Industrialist Chaudhary inaugurates

            Parbat, Nov 24: Construction works of the Mid-Modi Hydropower Project (15.1 MW) based in Parbat district have started.

            The Chaudhary Group of Nepal and Coaster Company, India, have jointly invested in the project.

            Chairman of the Chaudhary Group, Binod Chaudhary, laid the foundationstone amid a programme at Bhurungdichour of Bhuka Deurali VDC of Parbat district on Sunday.

            Speaking at the programme Chairman Chaudhary said the project would be constructed at around Rs 3 billion and is targeted to be constructed by 2017. It would be a model project of the country.

Chairman Chaudhary said the Super Modi Hydropower Project (44 Mw) would also be started within a few months. The Prime Bank including other seven banks are jointly investing for the construction of the project. The project has already made Power Purchase Agreement (PPA) with Nepal Electricity Authority.

           

            As per the agreement the NEA would purchase the power from the investing companies at Rs 4.8 during the rainy season while at Rs 8.4 during the winter. RSS