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Summary of Project Information (SPI) |
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| Project number | 7365 |
| Project name | Upper Bhote Koshi Hydroelectric Power Project |
| Country | Nepal |
| Sector | Utilities |
| Department | Infrastructure |
| Company name | Bhote Koshi Power Company Private Limited |
| Environmental category | A |
| Date disclosed | April 8, 1996 |
| Status | Active |
| Previous Events | Invested: December 29, 1997
Signed: December 12, 1997
Approved: June 26, 1996 |
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Summary Of Project Information (SPI)
| Project Name | Nepal-Upper Bhote Koshi Hydroelectric Power Project |
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| Region | Asia |
Project No007365
Projected Board DateDecember 8, 1997
Company NameBhote Koshi Power Company
Technical Partner and/or Major Shareholders
Panda Energy International, Inc.
Harza Engineering Company International L.P.
Himal International Power Corporation
Project Cost Including proposed IFC investment
Up to US$3 Million exposure to undertake US$ interest rate swaps.
Location of project and Description of site
Kathmandu (Nepal)
Description of Company and Purpose of Project
The objective of this project is to allow Bhote Koshi Power Company (“the Company”) to hedge its interest rate risk. The Company has requested that IFC establish a Risk Management Facility in order for it to enter into interest rate swaps on its FMO, Dresdner and Bayerische Vereinsbank loans under the IFC “B” loan. The interest rate swaps will effectively convert these loans from variable rate US Dollar (US$)to fixed rate US$. These interest rate swap transactions will be priced on the basis of standard IFC pricing guidelines for client risk management transactions. IFC’s total exposure under these swap transactions is estimated at approximately US$3.0 million. This project will further support the developmental initiatives cited in IFC’s investment in the Project. Interest rate risk management would improve the stability of the Company’s future cashflows and enhance its economic viability.
Environmental Category and Issues
The proposed transaction is of financial nature only, and accordingly is classified as a Category C Project according to IFC’s environmental review guidelines and procedures. No further environmental review is required.
Date SPI sent to PIC
Revised: | April 8, 1996
December 4, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384 |
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| Environmental documents for this project are available at http://www.ifc.org/projects and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html). |
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