A hydropower project is to be constructed in Gorkha at joint investment of Non-Resident Nepalis and local partners.

Bikas Hydropower Company is going to construct the hydel project at Upper Machhakhola Hydropower Project at Machha rivulet in Gorkha.

Non-resident Nepalis residing in Malaysia since long are investing on the hydel project with 4.55 Megawatt capacity.

The project will be constructed at a total cost of Rs 816.5 million. Out of this, the investors will invest Rs 326.5 million as equity capital.

Similarly, an investment agreement has been signed by which the government-owned Rastriya Banijya Bank would invest Rs 489.9 million. The proportion of the equity capital and loan investment would be 40 and 60 per cent.

Khagendra Neupane from Bikas Hydropower and RBB CEO Kiran Kumar Shrestha signed on the agreement on behalf their respective organisations.