Prime Minister Pushpa Kamal Dahal 'Prachanda' virtually inaugurated the Upper Machha Khola Hydropower Project
Prime Minister Pushpa Kamal Dahal 'Prachanda' virtually inaugurated the Upper Machha Khola Hydropower Project, promoted by Vikas Hydropower Company Limited, on Monday by operating the turbine in a ceremony held at the Prime Minister's Office. The 4.55 MW hydropower project is located in Dharche Rural Municipality in the northern part of Gorkha District.
During the inauguration, Prime Minister Prachanda emphasized that the government's primary focus is on good governance and development. He expressed his dedication to these goals, stating that the launch of this hydropower project marks the beginning of development in Gorkha District and assures employment for locals. He also thanked the investors for their contributions.
The Prime Minister acknowledged the challenges in maintaining political stability in the past but expressed confidence in achieving stability this time. He noted that this year has been an election year, with local, provincial, and federal elections, and following the upcoming presidential and vice-presidential elections, the focus will shift entirely to development activities. Prachanda also extended special thanks to the investors and emphasized the significance of this hydropower project for Gorkha's development.
He further highlighted the involvement of non-resident Nepalis (NRNs) and local investors in the project, expressing his gratitude for their contributions and urging them to continue investing. Prachanda assured that the government will soon begin the construction of a 132 kV transmission line in Machha Khola, Dharche Rural Municipality, to facilitate the project. He reiterated the government's commitment to good governance and development, encouraging investors to proceed with confidence.
In the program, Rajendra Bajgai, Member of the House of Representatives from Gorkha Constituency No. 1, informed the Prime Minister about the various issues in Gorkha and emphasized the need for immediate construction of the 132 kV transmission line in Dharche Rural Municipality. He mentioned that there is no land-related issue for the project, and its absence has created challenges for many hydropower projects in the area. Bajgai also noted the potential for additional hydropower projects in Gorkha, alongside the Budhi Gandaki project, and extended his best wishes for the continued success of Vikas Hydropower.
Khagendra Neupane, Chairman of Vikas Hydropower, expressed gratitude to all those who contributed to the project's completion. He thanked Prime Minister Prachanda, Rajendra Bajgai, and local government officials for their support. Neupane also acknowledged the contributions of various stakeholders, including the Ministry of Energy, Ministry of Forests, Department of Electricity Development, Nepal Electricity Authority, Rastriya Banijya Bank, insurance companies, financial and technical consultants, local residents, political parties, and the management team led by Managing Director Krishna Ghimire.
Krishna Ghimire, Managing Director of Vikas Hydropower, welcomed the guests and expressed appreciation for the continued support of everyone involved, especially the shareholders and guests present at the event.
The company is led by NRN Secretary and Chairman Khagendra Neupane, with a board of directors that includes Managing Director Krishna Prasad Ghimire, Director Saroj Dhital, and other young entrepreneurs such as John Ghale, Indra Bahadur Dhakal, and Sunil Shrestha.
Several NRN investors, including NRN Treasurer Lok Prasad Dahal, Sunil Sharma, Ramji Bagale, Santosh Koirala, Mani Gurung, Bal Krishna Khadka, and Ishwar Sapkota, attended the event. NRN Treasurer and hydropower investor Lok Dahal thanked Chairman Neupane and the management team for completing the project six months ahead of schedule, unlike many other delayed hydropower projects.
John Ghale, a businessman from Australia and a director of the hydropower project, expressed his regret for not being able to attend the event in person but praised the management team and announced plans to invest in additional projects.
The directors of Vikas Hydropower also announced during the program that they will start construction on another hydropower project soon after completing this one. The Upper Machha Khola Hydropower Project, constructed in Dharche Rural Municipality in Gorkha District with an investment of approximately NPR 1 billion, was funded through 35% promoter investment and 65% loan from Rastriya Banijya Bank. Although the project was initially scheduled to start electricity production by mid-July 2023, all construction work was completed six months ahead of schedule.
During the construction phase, the project provided employment to over 150 locals and currently offers direct and indirect job opportunities to more than 20 people as it moves into the operation phase. The project is supported by enthusiastic participation and investment from both non-resident Nepalis and local businessmen.
Under its corporate social responsibility program, Vikas Hydropower Company has undertaken various community support initiatives in the project-affected areas. These include repairing local roads and bridges, improving irrigation canals for agriculture, tree planting, erosion control measures, and pollution reduction efforts. The company has committed to allocating 1% of its net profit towards these initiatives.