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The gold is being traded at Rs 110, 000 per tola in the domestic market on Monday. According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 109, 500 per tola. Similarly, the silver is being traded at Rs 1, 375 per tola today.

The financial close of the Upper Tamakoshi-V Hydroelectric Project has been completed. A tripartite agreement regarding loan investment was signed between the promoter company Tamakoshi Hydropower Company, Nepal Electricity Authority (NEA), and the Employees Provident Fund (EPF) on Sunday. According to the agreement, EPF will invest Rs 13.47bn in the 99.8 MW project, a cascade project of the 456 MW Upper Tamakosi Hydroelectric Project. NEA and Tamakoshi Hydropower Company had earlier signed a memorandum of understanding (MoU) with EPF in August 2021 for the loan investment in the project. NEA's subsidiary company Tamakoshi Hydropower Company Limited is developing the project with an estimated cost of Rs 20 billion. Of the total cost, 70 percent, or Rs 13.47bn, is being raised through loans and the rest through equity. As per the agreement, EPF will start disbursing loans at an interest rate of 14 percent per annum to the project after the promoter spends 50 percent of its equity. Binod Bhandari, CEO of Tamakoshi Hydropower Company, said that with the loan investment signing completed, the construction work of the project will proceed ahead. "The loan investment agreement for the project has been signed. We planned to proceed with the project construction within the current fiscal year," he said. The company had called for contracts for the construction of the civil component of the project in July 2022. Two Chinese contractors—Sino Hydro Corporation Limited and China Gezhouba Group Company Limited were shortlisted. However, it was found that the cost proposed by the companies was more than the estimation and the tender was canceled. According to CEO Bhandari, a new tender will be called soon. “Preliminary work is being done for the construction of the project now. As the previous tender has been canceled, we are preparing to invite a new tender,” he said. As the project is a cascade project of the 456 MW Upper Tamakosi Project, it does not need to build a dam as it takes its water directly from the tailrace tunnel of the Upper Tamakoshi Project. The power produced from the project will be connected to the 220kV transmission line of the Upper Tamakoshi Project. The underground powerhouse will be made at Suri Dobhan in Bigu Rural Municipality-3. The Department of Electricity Development (DoED) issued a power generation license to the project in 2017. An additional environmental study of the project was carried out with a grant from the Asian Infrastructure Investment Bank (AIIB). The construction of the project is targeted to be completed within 2027. According to the promoter company, the Tamakhoshi-V will be constructed under the engineer procurement construction (EPC) model. Under an EPC contract, a single contractor takes responsibility for all components like design, engineering, construction, and procurement.

The Nepal Stock Exchange (NEPSE) gained 5.88 points to close at 2,883.20 points on Sunday. Similarly, the sensitive index surged by 0.14 points to close at 358. 33 points. A total of 4,828,776-unit shares of 273 companies were traded for Rs 1. 60 billion. Meanwhile, Rastriya Beema Company Limited was the top gainer today, with its price surging by 10. 00 percent. Similarly, Adarsha Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 6.56 percent. At the end of the day, total market capitalization stood at Rs 2. 74 trillion.

The price of gold has increased by Rs 800 per tola in the domestic market on Sunday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 110, 000 per tola today. The gold was traded at Rs 109, 200 per tola on Friday. Meanwhile, tejabi gold is being traded at Rs 109, 500 per tola. It was traded at Rs 108, 700 per tola. Similarly, the silver is being traded at Rs 1,385 per tola today.