The Nation has learnt that the Nepalese government was forced to seize the company’s performance bond of 2.1 billion rupees (Sh1.84 billion) after it failed to complete a Sh35.5 billion project. The company had abandoned the project after facing severe financial problems at home, forcing it to seek court protection for its assets. The NLC said 800 families would receive a total of Sh6 billion as compensation, thus pushing the cost of the dams to over Sh70 billion. The project also intended to carry out irrigation downstream, which was to cost Sh2.5 billion for Kimwarer and Sh1.8 billion for Arror. Another huge procurement was for the waterways and powerhouses, which were budgeted to cost Sh3.5 billion at Kimwarer and Sh5.9 billion at Arror.

Source: Daily Nation March 05, 2019 08:03 UTC