Kathmandu. The agreement was signed between Bhotekoshi Power Company and Bhotekoshi Genji Public Investment Limited. The agitation has come to an end after Bhotekoshi had agreed to give 10 percent share to Genji.

The agreement was signed in the presence of local people’s representatives, Chief District Officer, Jejani Public Investment and Bhotekoshi Power on Sunday.

Earlier, in the agreement reached on December 22, 2014, Bhotekoshi had agreed to increase the share from 6 percent to 4 percent to 10 percent. According to the agreement, Bhotekoshi Power Company Private Limited will give 10 percent share of its shares to a public limited company that will directly involve the local people directly affected by the hydropower generation of the project.

As the face value of the shares is Rs 100 per share, Bhotekoshi Power will apply to the bank for loan and provide collateral for the loan issued by the bank. “If the second party does not clear the dividend to be managed by the second party from the dividend of the next 1 year, the second party will accept the remaining amount of the loan,” reads the letter.

It has been agreed that GenG will start the process of applying for 10 percent of the shares after the local people directly affected by the hydropower sector have been made shareholders of the company. An agreement has been reached to provide Rs 2.5 crore annually to Bhotekoshi Rural Municipality in addition to its existing social responsibility amount.