Kathmandu. Investment has been collected for the Lower Hewakhola Hydropower Project.

Two commercial banks have agreed to invest Rs 981.7 million in the 6.84-megawatt capacity hydropower project.

Siddhartha Bank and Rastriya Banijya Bank will invest Rs 500 million and Rs 481.7 million in the scheme. Of the total investment of the project, 70 per cent will be financed by loan and 30 per cent by promoters. The total cost of the project is Rs 1.40 billion.

According to company chairman Basanta Kumar Tamang, the project will generate 40.82 gigawatt hours of energy annually. The electricity generated by the project will be connected to the central grid through a 3.8-kilometer-long transmission line with a capacity of 33 kV.

According to the project, the construction of the project located in Panchthar district has already started and will be completed within the stipulated time.