SJVN Ltd, GMR Upper Karnalai Hydro Power Ltd and IREDA sign MoU for 900 MW project in Nepal

SJVN Limited ("Company"), GMR Upper Karnali Hydro Power Limited ("GMR") and IREDA has signed a MoU for development of Upper Karnali Hydro Electric Project (900 MW) through JV Company in Nepal.

The Company and GMR will hold 34% shareholding each and IREDA will have 5% shareholding in the proposed JV. The balance Equity will be held by NEA (Nepal Electricity Authority). The project shall be developed on BOOT basis with 25 years concessional period after commissioning.

The approximate project cost shall be ₹9,100 crore. The project is proposed to be funded through 70:30 Debt Equity ratio.

Shares of SJVN Limited was last trading in BSE at Rs. 126.30 as compared to the previous close of Rs. 130.50. The total number of shares traded during the day was 656473 in over 6842 trades.

The stock hit an intraday high of Rs. 130.25 and intraday low of 124.80. The net turnover during the day was Rs. 82918358.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 ElectricUtilities GMRUpperKarnaliHydroPower IREDA MoU 900MW UpperKarnaliHydroElectricProject Nepal