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NRNs in UAE collect 350 million investment for hydropower

Khem Nath Paudel, (UAE): The Non Residential Nepalese Associations UAE NCC has collected Rs 350 million for joint investments in Nepal’s hydropower sector.

The investments were raised as part of the NCC’s initiative to make joint investments in Nepal during a meeting of the NRNs residing in the UAE on August 3.

The initiative was launched in Russia on July 22 and the National Coordination Councils (NCC) of the NRNA across the world have expedited the initiatives in their respective country of residence.

NRN-NCC’s former gulf regional coordinator Chandra Prasad Sapkota urged participating investors for not making the investments by taking loans. He cautioned them the return in such sector will bring in long term and loans might bring misery to them.
UAE NRN-NCC president Chandra Rokaya informed participants that the NRN-NCC was planning to form an NRN investment company and stated that NRNs will be able to invest  one lakh to ten million in it.

Speakers on the occasion elaborated on the benefits on making joint investments in Nepal’s hydro sector and in contributing to the prosperity of their motherland.

Published Date: Saturday, August 4th, 2012 | 10:35 AM

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