HIDCL likely to get USD 50 million concessional loan from ADB – ShareSansar

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Hydroelectricity Investment and Development Company Ltd (HIDCL) is in final stages to get approved for a concessional loan of USD 50 million loan from Asian Development Bank (ADB). HIDCL has secured approval from the Government of Nepal to secure the loan from ADB. The concessional loan is in final stages being approved.

An official from ADB office in Nepal informed ShareSansar that this concessional loan is being overseen by the headquarter of ADB located at Manila, Philippines. Once the headquarter of ADB forwards the  document related to the loan to the Nepal Resident Mission of ADB, we may be able to comment on the issue, added the official.

HIDCL is floating its Initial Public Offering (IPO) worth Rs 2 arba (2 crore units shares) from Kartik 12, 2072. After the IPO the paid up capital of HIDCL will stand at Rs 10 arba.

HIDCL is established for mobilizing funds from domestic and international resources to fund medium to big hydropower projects and transmission lines has so far co-financed a total of six hydropower projects with capacities ranging from 23.5 MW to 82 MW.

 

Published on: Sharesansar (October 19, 2015)