BPC Briefs AGM On Projects, Dividends

BPC Briefs AGM On Projects, Dividends

March 10, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 07 No. -17 Mar. 07- 2014 (Falgun 23, 2070)

Butwal Power Company has concluded its 21st annual general assembly (AGM). Chairman of Butwal Power Company Padma Jyoti and others associated with it informed at the AGM that the 9.4MW Andhikhola Hydropower Project (upgraded from existing 5.1MW capacity) will come into operation from April this year, adding nearly 26GWh extra power in the national power grid.

Andhikhola Upgrading Project, undertaken by BPC to upgrade the capacity from 5.1MW to 9.4MW, is under construction. The project is being financed by International Finance Corporation (IFC) and Mega Bank Nepal Limited.

He informed that unforeseen circumstances, on account of certain technical and geological issues,delayed  the project and led to an increment in the project costs. With the completion of the project, an additional 26GWh of power will be added to the INPS annually. BPC has spent Rs. 774 million in the project till the end of fiscal year 2069/70.

Meanwhile, the BPC is going to provide 18 per cent cash dividends and rights shares at the ratio of 3:2.  The BPC was to open its rights shares to its shareholders from March 3, 2014. BPC is one of the leading companies in Nepal's power sector with generation and distribution as its core business areas.

Recently, the company has also expanded its wings over operation and maintenance of power plants, consulting engineering of hydropower and infrastructure projects, manufacturing and repair of hydro-mechanical and electromechanical equipment for power plants through its subsidiary companies..

Currently, BPC owns 5.1MW Andhikhola and 12MW Jhimruk plants. It owns a majority stake in 4MW Khudi and has ownership in 60MW Khimti. It is developing two hydropower projects namely Nyadi and Kabeli A, with a combined capacity of 68MW. Similarly, it is also planning to construct another 140MW project.

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