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Breakthrough of Face 8 to Face 9 of HRT

The Adit 4 (Face 7 and Face 8) of HRT of Nikachhu Hydropower project is being constructed by Construction Development Corporation Limited (CDCL). CDCL is a DHI owned company and the first Bhutanese company to venture into hydropower construction.

The breakthrough ceremony between Face 8 and Face 9 of the Head Race Tunnel was held on December 5, 2020. Lam Neten of Trongsa Dzongkhag presided over the Lhabsang Thruesel ceremony. The event was attended by members of CDCL Board, officials of local government and other dignitaries.

Dasho Ugen Chewang, Chairperson of the Druk Holding and Investment accompanied by Dasho Chhewang Rinzin, Managing Director of Druk Green Power Corporation graced the breakthrough ceremony as the chief guest.

Dasho Chewang Rinzin, Managing Director of DGPC graced the steel lining for the horizontal pressure tunnel and breakthrough of Face IV and Face V on May 19, 2020. The event was also attended by Dasho Dzongdag, National Council Member, officials and guest from the Trongsa Dzongkhag and Geog administration.

Dasho Chewang Rinzin, Managing Director of Druk Green graced the tunnel day-lighting ceremony of Face I & Face II of HRT held on 23rd Jan 2020. The event was also attended by officials and guest from the Trongsa Dzongkhag and Geog administration.

Mr.Ugyen Namgyal joined as the new Managing Director on October 10, 2018 and took over the charges from Mr. Sujan Rai, Deputy Managing Director, who was shouldering the additional responsibility of Managing Director in addition to his responsibilities as Deputy Managing Director,THyE.

Mr.Ugyen Namgyal, the new Managing Director, after offering Nyendhar and prayers at Goenpoi Goenkhang, Pelden Lhamoi Goenkgang and other altars in Choetse Rabtentse Dzong, Trongsa was received by THyE, DGPC, monks of Choetse Rabtentse Dzong and officials from various sectors of Trongsa Dzongkhag in front of THyE Corporate Office, Sherubling, Trongsa at 10 AM; followed by 'Marchang Ceremony'.

 The Contract Agreement for Main Contract Package , MP-1(Civil & Hydro-Mechanical Works) 
of 118 MW Nikachhu Hydropower Project ,was signed on April 20, 2016 with M/s Hindustan Construction Company Limited,India.

 The Contract Agreement for Main Contract Package , MP-2(Electro-Mechanical Works) of 118 MW Nikachhu Hydropower   Project,was signed on December 30, 2015 with M/s Voith Hydro Private Limited,India.

 The Letter of Understanding(LoU) between THyE and Gross National Happiness Secretariat on Fisheries Development Study and   Monitoring Program in Nikachhu,Trongsa was signed on December 24,2015.

The total Project Cost for the 118 MW Nikachhu Hydropower Project is expected to be Nu. 11,890.800 Million to be financed with Debt: Equity ratio of 65:35.

Out of the total Equity requirement of Nu. 4,161.780 Million, ADB is funding USD 50.50 Million i.e. approximately Nu. 3,030.000 Million to RGoB (via grant of USD 25.25 Million and loan of USD 25.25 Million) to be used as equity contribution for the Project by DGPC. The remaining Nu. 1,131.00 Million will be funded by DGPC.

The debt requirement for the Project is Nu 7,729.020 Million, out of which Nu. 4,200.000 Million is met from ADB loan of USD 70.00 Million and the remaining Nu. 3,530.000 Million will be met through loan from Indian Commercial Banks (ICB).

On November 01, 2015, the financing agreements for loan of INR 3,530 Million was signed between different stakeholders at the Le Meridian Hotel in the presence of Honorable Chairman, DHI & DGPC; Managing Director, DGPC; CEO, Bank of Bhutan Limited; representatives from ADB, SBI, SBICAPS, SBICAPS Trustee Company Limited, EXIM Bank, ILS-Link Legal, THyE and other distinguished guests.

The land lease agreement for 118 MW Nikachhu Hydropower Project was signed with the Royal Goverment of Bhutan on May 1st ,2015.

The 1st Annual General Meeting of Tangsibji Hydro Energy Limited( THyE) was held on May 6,2015.

news Cont.... All Pages News Breakthrough of Face 8 to Face 9 of H

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