Ludhiana Holdings Sdn Bhd, a Malaysian group, has announced its plan to invest 400 million USD in Nepal. It has applied to the Department of Electricity Development for a survey license of 303 MW Jawa Humla Hydropower Project in Karnali and is awaiting a decision on the license.
As per a press statement issued by the company on Monday, it was working for an investment of more than 400 million USD in the form of private equity and bank financing for undertaking a couple of hydropower projects in Nepal over the next five years.
Manjit Singh, the Malaysian group’s managing director, said that he realized the importance of investing in Nepal’s hydropower when he saw the country reeling under acute power crisis during his Nepal visit in 2016.
The company also opened a one-stop resource center for hydropower development in Bansbari of Kathmandu on Monday. It said in the press release that the resource center would assist Malaysian companies to venture and invest in Nepal’s hydropower sector.
The company added that all the necessary information would be available at the resource center and that would make the process easier for Malaysian companies and investors.