Ridge Line Energy Limited has decided to invest Rs 20 crore in the Tila-1 Hydropower Project and has also frozen its shares of Kang Hydropower Company at NMB Bank.
Investment in Tila-1 Hydropower Project
Ridge Line Energy Limited has made decision to invest Rs 20 crore in Tila-1 Hydropower Project. The meeting of board of directors held on Asar 3 took this decision.
According to company, they will invest Rs 20 crore in the reserve shares of SP Power Private Limited. This money will be managed from the cash collected through the issuance of right shares of the company. The 440 MW capacity Tila-1 Hydropower Project is currently under construction on the Tila River in Kalikot district, which is promoted by SP Power Private Limited.
Freezing of Kang Hydropower Shares
In the same meeting, the board has also decided to lock 15 lakh unit shares of Kang Hydropower Company Limited. These shares have face value of Rs 100 per share and are owned by Ridge Line Energy. Kang Hydropower is located at Kupondole, Lalitpur-1.
These 15 lakh shares will be frozen at the central office of NMB Bank Limited in Kathmandu. The company stated that these shares are locked so that they cannot be bought, sold, or transferred to any other parties.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
