EPF to Invest in Upper Tamakoshi

EPF to Invest in Upper Tamakoshi
New Business Age, September 2007

Employees’ Provident Fund (EPF) is to invest in 309 MW Upper Tamakoshi hydropower project though it has not decided at the exact amount of investment. According to sources, the officials of EPF and Nepal Electricity Authority (NEA) have already hammered out a framework of the agreement. Now the EPF is giving the final shape to ensure enough security to the investment, informed Dr. Ramesh Kumar Bhattarai, Chief Officer of the EPF.

The NEA is seeking Rs. 10 billion from the EPF for the project to be located at Lamabagar VDC of Dolkha district and billed to be the cheapest hydropower project in the country so far in terms of per unit cost.

The total project cost of Upper Tamakoshi is estimated at 340 million US dollars giving per unit cost of 2.6 US cents. The project is planned to generate 1.74 billion units of electricity in a year.