A consortium of banks led by Global IME is set to finance the 31.92 MW Upper Mewa Khola Hydropower Project in Taplejung district through a syndicated loan arrangement.
Global IME Bank announced that a loan agreement has been signed to finance the project, estimated to cost Rs 6.37 billion. Under the deal, the consortium—comprising Global IME Bank as the lead financier and Laxmi Sunrise Bank as a partner—will provide Rs 4.85 billion in funding.
The project’s promoter, Saurya Holding Pvt. Ltd., will contribute the remaining 25% of the investment through a rights share issuance.
The agreement was signed in the presence of Global IME Bank CEO Surendra Raj Regmi. Signatories included Global IME Bank’s Chief Business Officer Kalyan Bikram Pande, Laxmi Sunrise Bank’s Chief Business Officer Manish Raj Kunwar, and Saurya Holding’s Managing Director Mohan Bikram Karki, the bank said in a statement.
Construction of the hydropower project is expected to be completed within three years from the date of commencement.
