It all started with a small stationery mart at New Road in 1974 with a capital of Rs 100,000 that set up the foundation for the formation of ICTC Group. The stationary business, started by Ram Lal Shrestha, mostly catered to government and semi-government clients. His relationship with such clients proved to be a beneficial leverage to start a business that catered the service of representation and liaisoning to foreign firms giving birth to Inter-Continental Trading Concern in 1975. In the 1970s, ICTC had established Himalayan Brick Factory and electric bulb production plant, but both failed. In 1978, its initials were retained to form ICTC Pvt Ltd with a capital base of Rs 5,000. In the same year, ICTC was engaged in its first project, Lower Marshyangdi Hydropower Project. Today, with its four decades of experience in providing representation and liaisoning service, ICTC boasts of specialisation in providing support to foreign firms entering Nepal.
Since 1991, the group started diversifying into a range of business activities but keeping its focus mainly on five business sectors – services, engineering and construction, energy, consumer products and information and communication services. Within these sectors, the group has presence in business areas such as insurance, beverages, hospitality, hydropower and real estate development, consumer product trading, marketing and distribution, IT, communication, software development and business process outsourcing services.
In 1991, the group established Taragaon Regency Hotels Ltd under the Public Private Partnership (PPP) model, with investments coming from the government, Asian Development Bank (ADB) and the ICTC. The Taragaon Regency is considered among the first PPPs in Nepal that started operating Hyatt Regency Kathmandu in 2000. Three years later, the group promoted Premier Insurance Co, a general insurance company, landing its investment in the insurance sector. The group also has presence in liquor manufacturing through its Highland Distillery. According to Dinesh Lal Shrestha, Highland Distillery is the second largest distillery in Nepal in terms of business turnover and its net profit stood at Rs 430 million in 2016.
- Annual Turnover Rs 1.6 billion in hotel businesses, Rs 1.5 billionin insurance, Rs 3.5 billion in liquor business
- Estimated turnover from Solu hydroelectric project once the project starts commercial production is Rs 700 million
- Rs 758 millionin 2015 from Prime International (confectionaries, liquor, beer and detergents)
- Engineering and Construction
- Consumer products
- Information and communication services
- Hyatt Regency Kathmandu
- Expansion within Hyatt Regency Kathmandu adding 150 rooms
- A 4-star hotel primarily catering to Chinese tourists
- International Exhibition Centre with 1,000 car capacity
- Taragaon Village, a Boudha-based project with a replica of Thamel
- Engagement in government projects including Upper Karnali with India’s GMR and West Seti with China’s Three Gorges
- 1,000 people