KATHMANDU, Dec 22: Different banks have agreed on financial closure for the Lapchekhola Hydropower Project of 160 megawatt capacity to be built in Dolakha district.

Private business house Dugar Group is investing in the project through Nasha Hydropower Pvt Ltd.

The total cost of the project is estimated to be Rs 26.20 billion.

In the project, nine banks and financial institutions under the leadership of Nepal Bank Limited would make joint investment.

A multilateral deal was signed on Tuesday for the investment of Rs 19.65 billion through co-financing.

Besides Nepal Bank, other institutions investing in the project are Nepal Investment Bank, Employee Provident Fund, Rastriya Banijya Bank, Himalayan Bank, Laxmi Bank, Nepal SBI Bank, Bank of Kathmandu and Agricultural Development Bank.