June 19: Api Power Company has received the ICRA Rating of Grade 4 by ICRA Nepal for its upcoming right issue of 1:2 right share. The company having paid up capital of Rs 1 billion is trying to raise an additional Rs 2 billion capital for its upcoming projects.
According to the press statement, the company is investing 80% in Siddhakali Power Ltd which is developing 75MW Trishuli Galchi Hydropower Project. Additionally, Api Power is also constructing 8MW Upper Naugarh Gad Small Hydropower Project at Darchula District in the same Naugarh Gad River.
The company informs that it had constructed an 8.5 MW project in 17 months earlier. The company believes to get final approval from the SEBON in any time soon as all the paper works have been completed by the company.
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