One of the largest industrial houses of Nepal, Chaudhary Group, is all set to invest in hydropower development as well.
The group is investing in the Modi Khola Hydro Project located at the confluence of Parbat and Kaski districts. President and Managing Director of Chaudhary Group Binod Chaudhary laid the foundation stone of the 15.1MW Mid-Modi Hydro Project on Sunday. The company is also planning to invest in the 44MW Super-Madi hydel project within a few months.
After laying the foundation stone, Chaudhary said that it was a special day in the history of the organisation. He added, “There was no investment friendly environment in the hydropower sector earlier due to complexities in the government policy and the network of Nepal Electricity Authority employees. But the situation has changed a lot now.”
Chaudhary said that they had to step back when the state said it would invest in energy generation from Upper Modikhola some 25 years ago. “It is our dream come true after 25 years. Our first interest was to invest in Modi, and it’s a coincidence that our investment in the energy sector has begun from there. Now we have to see that we carry out the work in an effective way,” he added.
The construction site of the project lies at Bhuktangle-1, Bhurungdanda, whereas the powerhouse will be constructed at Deubapur-2, Maninswara of Parbat.
Nepal’s Chaudhary Group and Coastal India will jointly invest in the hydro project. Himal Hydro and General Construction Ltd has been assigned the responsibility of the construction work. According to Kumar Bajracharya, chief of the project, the construction of the project will be completed within three years once it starts. The total estimated cost of the project is Rs 2.8 billion.
Meanwhile, Arun Rajauriya, deputy director general of Himal Hydro, the project will be constructed in the ‘run of river’ model and the electricity will be evacuated using the 132kV national transmission line at Kerunga. Two hydro projects have already been constructed in the Modi river.
