Tag: Project

  • Slow Progress: Narayangadh-Butwal Road Project 46% Complete

    Slow Progress: Narayangadh-Butwal Road Project 46% Complete


     

    The Narayangadh-Butwal road expansion, part of the East-West Highway, is only 46% complete after five years, with significant work remaining. Engineer Shiv Khanal, from the project’s Eastern Section, attributes the slow progress to contractors not sticking to their schedules. The China State Construction Engineering Corporation Limited began the project in 2075 B.S. with a four-year target, but it’s behind. Rakesh Jha, the contract co-manager, suggests a one-year extension as it can’t be finished in the current extended period.

  • Upper Tamakoshi Hydropower Limited Initiates Auction for Unclaimed Right Shares

    Upper Tamakoshi Hydropower Limited Initiates Auction for Unclaimed Right Shares


    Upper Tamakoshi Hydropower Limited (UPPER) is currently conducting an auction for its unclaimed right shares, which commenced on the 13th of Poush and is scheduled to conclude on the 29th of Poush, 2080. The auction involves 1,70,19,530 units of ordinary right shares, representing the remaining portion of the rights offering issued by the company. The rights offering, in a 1:1 ratio, occurred between the 18th of Bhadra and the 22nd of Ashwin, 2080, where a total of 105,900,000 shares were issued. Eligible shareholders were allotted 8,88,80,470 shares, leaving 1,70,19,530 shares unclaimed. The ongoing auction is managed by Sunrise Capital Limited.

    The minimum bid rate for the auction is set at Rs. 100, with a minimum bid quantity of 100 units and a maximum bid quantity of 5,00,000 units. After the adjustment of the proposed right share, UPPER’s paid-up capital will increase to Rs. 21.18 Arba.

    In its recent financial report for the first quarter of the fiscal year 2080/81, UPPER reported a net profit of Rs. 1.00 Arba, resulting in an annualized earnings per share of Rs. 25.20. The net worth of the company stands at Rs. 60.97, with Rs. 73.01 Arba in long-term loans and Rs. 3.04 Arba in short-term loans.

    Upper Tamakoshi Hydropower Limited closed at Rs. 198 per share on January 9th, with a 52-week high of Rs. 590 and a low of Rs. 190. Established in 2007 by the Nepal Electricity Authority, UPPER is a key player in the hydropower sector, focusing on the Upper Tamakoshi Hydroelectric Project.

    The decision to issue 100% right shares aims to strengthen UPPER’s financial position amid challenges faced during the construction of the Upper Tamakoshi Hydroelectric Project. Unforeseen circumstances and a prolonged construction period led to increased costs, prompting the issuance of right shares to address rising interest expenses. The issuance was approved during the 14th Annual General Meeting in 2079, aligning with the company’s commitment to financial restructuring and stability.

    The construction phase of the project initially had a loan-to-equity ratio of 70% to 30%, but the evolving financial landscape and increased costs necessitated a shift in this ratio. The proposed right shares will contribute to stabilizing the company’s financial health and facilitate further growth opportunities. UPPER aims to fulfill its financial requirements, ensuring it remains well-positioned to navigate future challenges and contribute significantly to Nepal’s energy sector.

    Regarding the company’s capital across fiscal years, after the adjustment of 100% right shares, UPPER’s authorized capital for 2080/81 stands at Rs. 30 Arba, with issued and paid-up capital also at Rs. 21.18 Arba. The Mathillo Tamakoshi Jalbidhyut Yojana, a run-of-river type project, is the flagship project with a maximum output of 456 MW.

    The management team, led by CEO Mr. Mohan Prasad Gautam, oversees various aspects of the company’s operations. The board of directors plays a crucial role in guiding UPPER’s strategic decisions.

    In conclusion, UPPER’s move to issue 100% right shares presents an opportunity for investors to acquire shares at a lower price. The ongoing auction of unclaimed right shares provides investors with a chance to participate and potentially enhance returns. Existing shareholders can consider averaging their cost price through this opportunity.

  • NMB Bank and HIDCL to Invest 7.40 Arba Rupees in Upper Modi A Hydropower Project

    NMB Bank and HIDCL to Invest 7.40 Arba Rupees in Upper Modi A Hydropower Project


    NMB Bank and the Hydroelectricity Investment and Development (HIDCL) Company have jointly committed a substantial investment of 7.40 Arba rupees towards the Upper Modi A hydropower project. In this collaboration, NMB Bank will contribute 4.40 Arba rupees, while HIDCL will invest 3 Arba rupees. The signing of a tripartite loan agreement formalized this partnership, witnessed by Energy, Water Resources, and Irrigation Minister Shakti Bahadur Basnet, involving the project promoters Modi Hydropower Company, NMB Bank, and HIDCL.

    The comprehensive cost of the entire project, inclusive of interest during construction, is estimated to be 10.57 Arba rupees. Financing for the project will comprise 70% from debt and the remaining 30% from equity, sourced from the project authority and the public. The objective is to complete the Upper Modi A hydroelectric initiative within a four-year timeframe, currently in the preparatory stages with evaluations ongoing for civil and hydromechanical aspects under Phase 1. Simultaneously, construction is underway for essential infrastructure such as project site offices and residences.

    Crucial approvals for land acquisition, including forested areas, have been secured, and NEA Engineering Company is slated to oversee construction. This company will also supervise the 18.2 MW Upper Modi Hydroelectric Project. Financial management for the 42 MW Upper Modi A hydroelectric project, situated in the Annapurna Rural Municipality of Kaski, will be handled through a subsidiary company of the Nepal Electricity Authority.

    Minister Basnet highlighted the government’s commitment to enhancing domestic electricity consumption and exporting surplus power to neighboring countries like India and Bangladesh. He emphasized a shift in perspective, noting that hydropower is now recognized not just as infrastructure but also for its economic potential through electricity consumption.

  • Which hydro project do you guys think that will be next big thing in the future ? And please explain why too.

    Which hydro project do you guys think that will be next big thing in the future ? And please explain why too.


    Which hydro do you guys think that will be the next big thing that can give great return in the future ?
    And please explain why too.

    View on r/NepalStock by ControlSpiritual6075

  • Hello, I created a simple python script to check batch IPO result, as my first python project. Be sure to leave feedback.

    Hello, I created a simple python script to check batch IPO result, as my first python project. Be sure to leave feedback.


    Hello, I created a simple python script to check batch IPO result, as my first python project. Be sure to leave feedback.

    View on r/NepalStock by 1-3-5-1

  • “Millennium Challenge Corporation (MCC) Project Implementation Starts”

    “Millennium Challenge Corporation (MCC) Project Implementation Starts”


     

    The much-anticipated Millennium Challenge Corporation (MCC) initiative is about to start on Wednesday. This project, spanning five years, will begin its implementation on August 30, 2023, which aligns with the 13th of August in the Nepali calendar. Today, the Ministry of Finance is organizing an event to officially announce this significant milestone.

    As per Article 7 of the agreement between the Nepali government and the American Cooperation Mission MCC, the effectiveness of the agreement depends on the date when MCC sends a letter to Nepal’s government. This letter confirms MCC’s readiness to carry out the agreement, provided that they are satisfied with the completion of necessary prerequisites.

     

  • “Citizens Capital Partners with Thulo Khola Hydropower for IPO Management; Myagdi’s 22.5 MW Project Set to Offer Shares”

    “Citizens Capital Partners with Thulo Khola Hydropower for IPO Management; Myagdi’s 22.5 MW Project Set to Offer Shares”


     

    In an event held at Sundhara, Kathmandu, Thulo Khola Hydropower Limited and Citizens Capital Limited signed an agreement for the management of their Initial Public Offering (IPO). The agreement was formalized by Mrs. Shweta Adhikari Panth, Director of Thulo Khola Hydropower Limited, and Mr. Sabir Bade Shrestha, CEO of Citizens Capital Limited.

    Under this agreement, Citizens Capital Limited, a subsidiary of Citizens Bank International Limited, will oversee the IPO process for Thulo Khola Hydropower Limited. The main objective of the IPO is to issue ordinary shares to local residents who are affected by the project, as well as to the general public.

  • “BoK Capital Market Allots IPO of Manakamana Engineering Hydropower on Shrawan 16 to Project-Affected and Migrant Nepalese.”

    “BoK Capital Market Allots IPO of Manakamana Engineering Hydropower on Shrawan 16 to Project-Affected and Migrant Nepalese.”


     

    BoK Capital Market will allocate the Initial Public Offering (IPO) of Manakamana Engineering Hydropower on Shrawan 16, 2080. The company offered 8 lakh unit shares to project-affected locals and 2 lakh unit shares to migrant Nepalese workers, as stated in the media release.

  • “Setikhola Hydropower Appoints Kumari Capital as Issue Manager for 60 Lakh Unit Share Float; 20 MW Pokhara Project Set to Operate in 2024”

    “Setikhola Hydropower Appoints Kumari Capital as Issue Manager for 60 Lakh Unit Share Float; 20 MW Pokhara Project Set to Operate in 2024”


    Setikhola Hydropower has selected Kumari Capital as the issue manager to issue 60 lakh unit ordinary shares to the public investors. The memorandum of understanding (MoU) was signed between the CEO of Kumari Capital, Mr. Puspa Sharma, and the chairman of Setikhola Hydropower, Mr. Anup Acharya, during a program, according to the media statement.

     

  • Radhi Sana Hydropower Project’s 4.4 MW Capacity Put on Hold Due to Flood Damage

    Radhi Sana Hydropower Project’s 4.4 MW Capacity Put on Hold Due to Flood Damage


    The Radhi Sana Hydropower Project, with a capacity of 4.4 MW and owned by Radhi Bidyut Company Limited (RADHI), has come to a halt due to flooding. The recent flood and landslide on Ashad 22 caused significant damage to the project’s headworks and head race pipe, resulting in the suspension of energy production.

    Located in the Lamjung district of the Gandaki Province in Nepal, the Radhi Sana Hydropower Project operates as a run-of-the-river (R-o-R) type project. It was designed with a 40% probability of exceedance (Q40). Although the project was scheduled for commercial operation by April 13, 2013, it faced delays and was finally commissioned on June 14, 2014, approximately a year later than the required commercial operation date (RCOD).

    Unfortunately, the recent flood has caused significant damage to the project’s infrastructure, leading to a temporary halt in energy generation. The company is likely assessing the extent of the damage and will need to undertake necessary repairs before resuming operations.

    The interruption in the Radhi Sana Hydropower Project’s functioning is a setback for the company, as it impacts their ability to contribute to the local energy grid and meet the region’s power demands. Efforts will now be focused on restoring the damaged components and ensuring the project can resume its operations as soon as possible, providing clean and sustainable energy to the area once again.