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The meeting of cabinet on Wednesday took the decision to this effect. The government had issued open tender notice for interested parties for the construction of this 30 Megawatt project some two years back.
Even though China's Sino Company had also applied for the project, the government decided to award the contract to Butwal Power Company after assessing the proposals forwarded by the both companies.
As per the cabinet's decision, Ministry of Energy will give license to Butwal Power to commence the construction of the Kabeli.
A major chunk of the total shares of the project, in which companies like Khudi, Shangrila Energy, SCT Hydro, Canada and ADP have also invested, is occupied by Butwal Power Company.
The construction site of the project lies in the bordering area of Taplejung and Paanchthar district. The World Bank (WB) will sanction loan to enable the project to see the light of the day. The bank has not floated loan to any hydro project after withdrawing from Arun III some 13 years back.
Promoters of Kabeli hydropower will invest 20 percent of the total project cost while the WB and Nepali banks will pump in 40 percent each as investment partners. nepalnews.com
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