PHCL Approves Investments in Hydropower and Agribusiness Firms

The board of directors of PHCL has approved investments in a hydropower company and an agribusiness firm by utilizing a portion of its surplus investable funds. The decision, taken during the board meeting held on Asar 19, 2083, authorizes the company to purchase 500,000 ordinary shares of Nyadi Phidi Hydropower Ltd. at a face value of Rs 100 per share. The company is developing the 21.4 MW Nyadi Phidi Hydropower Project in Marsyangdi Rural Municipality, Lamjung, which is currently under construction and is expected to begin commercial operations by November 2027 after obtaining the required survey and generation licenses. The board also approved the acquisition of 200,000 shares of Janata Agro & Forestry Ltd. at Rs 125 per share. The agribusiness company operates agricultural and forestry projects in districts including Jhapa, Arghakhanchi, Lamjung, and Parbat, and markets its products under the Aafnai Mato and Ashapuri Organic Farm brands. Janata Agro & Forestry is also preparing to launch an initial public offering (IPO) in the near future. According to PHCL, both investments were made in line with the company's Articles of Association as part of its strategy to utilize available surplus funds efficiently.