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Infrastructure Company ‘Emerging Nepal’ Established
Investment from Industrialists, Ex-administrators and Bankers
2 min 29 sec to read
December 13, Kathamndu. An infrastructure company is all set to come into operation with the investment of industrial groups, former administrators and bankers. Named ‘Emerging Nepal’, the company has decided to invest in roads and hydroelectricity projects at the first stage. It has also planned to revive ailing industries by investing in them or taking over their management. ‘The company will concentrate on the development of most essential infrastructures for economic development’, Chairperson of the company, Lalmani Joshi said. The company has been established with a view to invest in infrastructure development, initiate consultancy services and to undertake feasibility survey for the infrastructure development. The company was registered at the office of the Company Registrar on 17 August 2015.
The company’s authorized capital is 5 billion rupees while its paid up capital is 100 million rupees. It will be increased as per need. The government has invested 500,000 rupees in the company. In addition to that, there is investment of business houses, industrialists, administrators, bankers and non-resident Nepalis. “Though the company is in the stage of starting the operation by collecting paid up capital, it is delayed somewhat due to the unofficial blockade as well as for the time consumed in the process of the appointment of the company’s CEO,” he said. The management of the company has claimed that it will come into operation by the end of this fiscal year at the latest.
The company will be operated on public-private partnership basis. ‘We will in fact present ourselves as a model of public-private partnership’, Joshi said. According to him, the investment of the government in the company will increase the confidence of national and international institutions on this company increasing the possibility of attracting more investments. However, it is structured in such a way that the private sector will take up its management responsibility. According to the investors, this will facilitate many things ranging from policies and infrastructure building.
The company is also visualized as a ‘think tank’ in addition to its role to organize trainings and seminars. It has an objective of investing in infrastructure; provide infrastructural support to other organizations and to offer consultancy services when asked for. According to Joshi, the company may also issue bonds and debentures with prior permission from Nepal Rastra Bank. It may also contribute to develop financial, educational and medical hubs in some areas of the country.
Renowned business people like Manoj Bahadur Shrestha from Himalayan Bank, Chandra Dhakal from Global IME Bank, Industrialist Shrawan Kumar Agrawal, Senior Vice OPresident of Confederation of Nepalese IndustriesHaribhakta Sharma and Business Houses such as Vishal Group, Sanghai Group, Murarka Organisation, Golchha Organisation and Jyoti Group are also participating in the company. Former finance secretary Rameshwor Khanal and retired officers from various banks are also part of the company.
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<p>The company will be operated on public-private partnership basis. ‘We will in fact present ourselves as a model of public-private partnership’, Joshi said. According to him, the investment of the government in the company will increase the confidence of national and international institutions on this company increasing the possibility of attracting more investments. However, it is structured in such a way that the private sector will take up its management responsibility. According to the investors, this will facilitate many things ranging from policies and infrastructure building. </p>
<p>The company is also visualized as a ‘think tank’ in addition to its role to organize trainings and seminars. It has an objective of investing in infrastructure; provide infrastructural support to other organizations and to offer consultancy services when asked for. According to Joshi, the company may also issue bonds and debentures with prior permission from Nepal Rastra Bank. It may also contribute to develop financial, educational and medical hubs in some areas of the country.</p>
<p>Renowned business people like Manoj Bahadur Shrestha from Himalayan Bank, Chandra Dhakal from Global IME Bank, Industrialist Shrawan Kumar Agrawal, Senior Vice OPresident of Confederation of Nepalese IndustriesHaribhakta Sharma and Business Houses such as Vishal Group, Sanghai Group, Murarka Organisation, Golchha Organisation and Jyoti Group are also participating in the company. Former finance secretary Rameshwor Khanal and retired officers from various banks are also part of the company.</p>
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