Category: Biz News
Civil Group To Invest Rs 1.5 Billion In Housing
Civil Group is planning to invest Rs 1.5 billion in the housing industry. The group is conducting a feasibility study in order to develop housing projects in four cities outside the Kathmandu Valley.
400 MW Of Clean Energy To Be Developed
New Generation Power (NGP), a Chicago-based renewable energy company, and Hydro Solutions (HSL), a Nepali hydropower company, have signed a Memorandum of Understanding (MoU) to develop clean energy projects with a total capacity of around 400MW in Nepal. The MoU was signed by Dr. Chirinjeev Kathuria, Chairman and Nisha Joshi, Senior Vice-President (International) of NGP and Gyanendra Lal Pradhan, Executive Chairman of Hydro Solutions and Suman Neupane, President of NIC. Manish Miglani, the founder of MEI, facilitated this signing of MoU between NGP and HSL. According to Pradhan, the companies will now jointly work to develop, manage and even acquire clean energy projects in Nepal. HSL and NGP will also form a consortium including two of the latter’s partners -Nepal Infrastructure Consult (NIC) and Moksha Energy International (MEI) – to work together to develop and manage clean energy projects in the country,” Pradhan said. NGP, in association with some of its partners such as Panasonic, Martifer Solar or Toshiba,, has already built renewable energy projects (solar, biomass, wind, hydro, waste to energy, and geo-thermal energy) worth over 200MW in different parts of the world. Other projects, with a total capacity of around 3,000 MW, are still in the pipeline. HSL is a rapidly expanding energy company in Nepal. The company is already operating the 4.2MW Baramachi hydel project in Sindhupalchowk. Similarly, the 3.5 MW Charnawati in Dolakha, 10MW Upper Mai in Ilam, 20MW Lower Modi in Parbat and the 6.1MW Upper Mai ‘C’ in Ilam are in the final stage of construction. Likewise, the 42.9MW Ankhu in Dhading, 280MW Kaligandaki Gorge in Mustang and the 2.4MW Lower Charnawati in Dolakha are in the pre-construction phase, according to HSL’s website. NIC is a New York-based company which represents NGP in Nepal. MEI explores viable and creditable clean energy projects from around the globe on behalf of NGP. “HSL has its own portfolio of projects whose cumulative capacity is more than 400MW. So, finding suitable projects is not going to be a problem. Also, we may acquire other projects as well,” said Pradhan.
Nepal Witnesses A Six-year Low Growth
Nepal’s economic growth recorded at 3.56 per cent -- a six-year low growth -- at basic price for the fiscal 2012-13‚ according to preliminary estimation of the Central Bureau of Statistics’ (CBS).
Commercial Code Of Conduct In The Offing
With an aim to make Nepali industries and corporate houses responsible and ethical, an extensive code of conduct is in the pipeline.
SMSI: Employing Women
Around 454,000 women are finding jobs in small and medium scale industries (SMSI). According to Women Entrepreneurs Association of Nepal (WEAN), female employees occupy almost half one million jobs created in this sector.
Standard Of Star Hotels To Be Upgraded To Int’l Levels
Star hotels already established in Nepal and those that will soon be operating will have to meet the international standards.
Yak & Yeti To Spend Rs 800m On Renovation
Five-star Yak & Yeti will be investing nearly Rs 800 million on renovation and refurbishing of its standard rooms, according to Bharat Joshi, resident manager of the hotel.
Central Bank To Continue Managing NBL
Nepal Rastra Bank (NRB) has decided to continue supervising the management of the Nepal Bank Limited (NBL) for nine more months.
BFIs Increases Investment In Health Sector
Investment in the health sector by Banks and Financial Institution (BFIs) has increased around 61 per cent until mid February 2013 in comparison to the same period previous year.
Nepali Tea Gets 3 New Destinations
Himalayan Orthodox Tea Producer’s Association of Nepal is planning to export organic tea to three new countries- China, USA, and Russia - within a month. “Export to these countries is the result of high demand of Nepali Tea there,” said Kamal Raj Mainali, Treasurer at the Association.
