Kathmandu, Jan 2
Butwal Power Company Limited has sold 74 percent of its shares in Kabeli Energy Limited to Infraco Limited of Singapore.
BPC has sold its majority shares of Kabeli Energy before the construction of 37.4 Megawatt Kabeli ‘A’ hydropower project. Now BPC’s stake in the company is limited to 26 percent.
Though the project was scheduled to be completed by 2015, even civil work has not started so far.
On the other hand, BPC has also not clarified why it sold the majority stake in the Kabeli.
“In fact, we struck the deal with the Singaporean company a few months back,” a highly placed source at BPC said. “But even most of our employees are not aware of the deal.”
Butwal Power Company Limited has sold 74 percent of its shares in Kabeli Energy Limited to Infraco Limited of Singapore.
BPC has sold its majority shares of Kabeli Energy before the construction of 37.4 Megawatt Kabeli ‘A’ hydropower project. Now BPC’s stake in the company is limited to 26 percent.
Though the project was scheduled to be completed by 2015, even civil work has not started so far.
On the other hand, BPC has also not clarified why it sold the majority stake in the Kabeli.
“In fact, we struck the deal with the Singaporean company a few months back,” a highly placed source at BPC said. “But even most of our employees are not aware of the deal.”
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