NRNA

NRN Infrastructure and Development Limited

08 Dec 2015

“NRN Infrastructure and Development Limited (NRNIDL) was registered in Kathmandu under the Company Act 2063,” in Nepal (September 2012) with the main motive of collective investment in the hydropower sector in the initial phase meanwhile exploring other investment avenues of national priorities too. Initially, the company was registered under the name NRN Investment Limited which was changed to NRN Infrastructure & Development Limited on February 2, 2017. With liberalization in the state policies that allow private investors to build and operate hydropower projects and in the context of high demand for power in the country, significant development as expected of the energy sector is yet to happen. Investment in this sector was highly awaited. At the very outset, with the major objective to mobilize the knowledge, skills, capital, and other resources for the socio-economic development of Nepal in cooperation with the government, “NRN Infrastructure and Development Limited was registered in Kathmandu under the Company Act 2063,” in Nepal (September 2012) with the main motive of collective investment for a swift and smooth inflow of capital investment in prioritized sectors in Nepal. The registered office of the company is located in Kathmandu, Nepal. The objective of the company is to make investments in diversified sectors including Hydropower Projects, Banks and Financial Institutions, insurance, digital technology, e-commerce, and other profitable sectors thereby contributing to the overall economic development of Nepal and at the same time maximizing the profit of NRNIDL’s shareholder spread across the globe.

Concept Paper on Collective Investment

The gateway to this opportunity was the NRN Act 2064 B.S. and the Bylaws 2066 B.S. This Act entitled NRNs and PNOs an opportunity to invest in Nepal as resident Nepali or FDI. The Government of Nepal had declared 2012/013 as investment year and had promised to engender a conducive environment for investment. In this backdrop, development of a hydro power of 27 MW capacity was started as the Company’s initial undertaking. Hydro power was the first preference because of its potentiality in contributing to the socio-economic development of the nation, its market potentials, certainty of prices and value addition to the national resources. Its natural inclination towards the local market is a promising investment opportunity. Primarily, the idea of collective investment was adopted to attract the investment of low-income group, specifically, the people in foreign employment. Furthermore, such an initiative would give them a sense of ownership in the project and a feeling of pride in knowing that they are contributing to the nation’s development. Thus came the concept of investment aimed at mobilizing the remittance resources to more productive sectors, thereby ultimately contributing in the overall development of the nation. Undeniably, prosperous Nepal is a dream of every NRN.

The Kathmandu Declaration of the 5th Global Conference had envisaged bringing home collective investment, primarily in the government-prioritized sectors in Nepal by working closely in collaboration with the NRNA, the GoN, and the FNCCI. NRNIDL was thus established as a Public Limited Company, registered with the Company Registrar’s Office, Kathmandu under the banner of NRN Infrastructure and Development Limited to meet our collective objective of participating in the nation’s development through direct investment. Our huge respect to all our investors around the globe who have supported materializing this concept and have shown keen interest in investing in this mission. The collective investment concept embraced a large number of Nepali communities living abroad. We’ve found Nepali people residing all over the globe desirous to contribute to the development of their mother country Many NRN investors who had little idea and no time for operating enterprises were looking for investment opportunities and interested to contribute by investing in the development of their motherland. Here, NRNIDL acted as a catalyst in attracting and facilitating investment in Nepali Diaspora in Nepal.

As a kick start of investment with full support and trustworthy participation from shareholders around the globe, NRN Infrastructure and Development Limited (NRNIDL) tied up with Himalayan Power Partner Limited (HPPL) on 24 March 2013 to develop 27 MW Dordi Khola Hydropower Project on Lamjung. The project is in operation since October 2023.
NRN Infrastructure and Development Limited (NRNIDL) made an agreement with Sanima Middle Tamor Hydropower Limited (SMTHL) to develop the 73 MW Middle Tamor Hydropower Project in Taplejung and the project is in the full phase of development at present.
NRN Infrastructure and Development Limited (NRNIDL) has invested in the 28.1 MW Likhu Hydropower Project being developed by Swet Ganga Hydropower Limited in Ramechap and the project is in operation since November 2023.
Share Purchase Agreement (SPA) was made between NRN Infrastructure and Development Limited (NRNIDL) and Mathillo Mailung Khola Jalvidhyut Limited 14.3 MW Mathillo Mailung Khola Hydropower Project in Rasuwa and the project is in the full phase of development at present.
Nrn Infrastructure and Development Limited has invested in the 21.3 MW Thulo Khola Hydropower Project being developed by Samyukta Urja Private Limited and the project is in the phase of development at present.