finance

Bandipur Cable Car financial closure from Nepal SBI & NMB Bank

Two banks have done financial closure with Bandipur Cable Car Pvt.Ltd(BCCPL). Nepal SBI and NMB bank have agreed to invest in the bandipur cable car project.

A loan agreement has been signed between bandipur cable car, Tourism investment fund(Holding company of BCCPL) and the bank. As a banking partner, SBI and NMB have co-financed with each other. The agreement has been signed by Binod Dhungel, Chief Manager, Nepal SBI Bank and Vishal Thapa, Project Fiance Head, NMB Bank The cost of BCCPL is Rs 1 Arab and 68 crore. Equity to loan ratio for the construction of the project is 39:61. A total of Rs 700 million has been managed for the first phase of commerical operation by Ashwin end as told by Chairman of BCCPL. As per the loan split, 72.85 % will be disbursed by SBI and 27.14 % by NMB Bank

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