Construction cost of Lower Modi river project increases

KATHMANDU: The production cost of the ‘lower Modi river A’ project is to increase after it was not completed within the scheduled time.

The project was delayed due to lack of fuel, strikes as well as legal hassles, to add around Rs 170 million to the pre-estimated production cost.

The project, under construction with domestic investment, was to be completed at the total cost of Rs. 1.66 billion. But it will now cost Rs. 1.83 billion, according to the United Modi Hydropower Private Limited.

The project that began in Asar, 2066 was to be completed in Bhadra, 2068. But it will be completed ten months after the targeted timeframe, says Director of the Project, Uprendra Raj Gautam.

The project aims to produce power by the end of the current fiscal year and presently the civil and electro-mechanicals works are going on in full swing.

Citizens’, Global, KIST, Nepal Credit and Commerce, Vibor, Clean Energy, Nepal Development and Employment Promotion Bank and Nepal Share Market Finance have invested in the project. RSS