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Published on: 2017-09-14     327 times read    0  Comments

KOSEP Supports Nepal’s Flood Victims

September 14: KOSEP, a South Korean government-owned power generating company having installed capacity of more than 10,000 MW in the Korean peninsula, has contributed USD 100,000 (NRs 10,257,871) for the victims of recent flood and landslides in Nepal through Prime Minister Disaster Relief Fund.

The company is currently developing Upper Trishuli-1 Hydroelectric Project (216 MW) located in Rasuwa district, reads a press statement issued by Nepal Water & Energy Development Company P Ltd (NWEDC), which is a special purpose company registered in Nepal for development of Upper Trishuli-1 Hydroelectric Project.

The CEO of KOSEP Jaewon Chang handed over the cheque to Deputy Prime Minister and Foreign Minister Krishna Bahadur Mahara at his office on Wednesday, September 13.

Currently, the delegates from KOSEP are in Nepal to support the flood-affected families in Nepal as a part of Corporate Social Responsibility (CSR) of the company.

Earlier, NWEDC and its employees had contributed NRs 546,300 as a support to victims affected by flood through Prime Minister Relief Fund.

KOSEP is the main sponsor of Upper Trishul-1 Hydroelectric Project. The hydropower project has already concluded Project Development Agreement (PDA) with Ministry of Energy, Government of Nepal on December 29, 2016 and is in a process of PPA negotiation with NEA.

“KOSEP and its subsidiary company, NWEDC, strongly believe that development of electricity is one of the core factors in upgrading the living standard of people and economic development of the country,” the statement said.

Similarly, both the companies said they consider Corporate Social Responsibility as a crucial component and believe in shared value creation and bringing positive impact to the society at large. As a part of this, the project said it contributed to the project affected communities at the time of devastating earthquake of April 25, 2015 by distributing immediate relief package to the earthquake victims in the project area.

It also constructed two school buildings and one health post in the project affected VDCs which were destroyed by the earthquake.


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