First Business News Portal in English from Nepal
KATHMANDU: The 456-MW capacity Upper Tamakosi Hydropower Project set to increase capital and a proposal to this effect is being presented at the 14th Annual General Meeting of the project.
The general meeting of the project will be held on the 3rd of August. Issuing a notice on Sunday, the company said that it will present a special proposal for capital increment in the meeting. The meeting also has an agenda to pass the annual report for the FY 2077/78. The paid up capital of the company is 10.59 billion.
This is a hydropower project built with domestic investment, which has been in operation since the second week of last August. It is now also constructing a 20-MW Rollwalling project. Upper Tamakosi Hydropower Company is going to raise money for the Rollwalling project, which is estimated to cost Rs 8 billion.
It is said that the shareholders who have been trading in the stock exchange until the day before the closing of the shareholders book can participate in the general meeting.
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