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The financial closure of the 285 MW Upper Tamor Hydroelectric Project, the largest project undertaken by the domestic private sector, has been achieved. The consortium of bank led by Everest Bank signed the loan agreement with the project developer Tamor Energy Private Limited on June 6. Apart from Everest Bank, Agricultural Development Bank, Rastriya Banijya Bank, Prabhu Bank, Laxmi Sunrise Bank, Nepal SBI Bank, Garima Bikas Bank and HIDCL will be financing this semi-reservoir project. The estimated total cost of the project, including interest during the construction period, amounts to Rs 55.15 billion. Of this total, Rs 16.55 billion will be raised through equity, while the remaining Rs 38.60 billion will be financed under the leadership of Everest Bank.
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