A proposal has been endorsed to issue Rs 35.25 billion worth of public shares for the 1,063 MW Upper Arun semi-reservoir hydropower project in Sankhuwasabha. The amount represents 49 percent of the total equity (Rs 71.94 billion), equivalent to 30 percent of the project’s overall cost of Rs 239.79 billion. Shares will be allocated to non-resident Nepalis (18%), local residents (10%), people from disadvantaged regions, and employees of the promoter. The Nepal Electricity Authority board approved the proposal on Thursday.
