KOSEP a renown Korean company which is developing Upper Trishuli-1 Hydroelectric Project (216 MW) located in Rasuwa has contributed USD 100,000 (NPR 10,257,871.51) for supporting victims of recent flood and landslides in Nepal through Prime Minister Disaster Relief Fund.
The CEO of KOSEP Jaewon Chang handed over the cheque to Deputy Prime Minister and Foreign Minister Krishna Bahadur Mahara at ministry of foreign affairs. Currently, the delegates from KOSEP are in Nepal to support the flood affected families in Nepal as a part of Corporate Social Responsibility (CSR) initiative of the Company.
Earlier, Nepal Water & Energy Development Company P. Ltd. (NWEDC) which is a special purpose company registered in Nepal for development of UT-1 Hydroelectric Project and its employees have contributed NPR 546,300 as a support to victims affected by flood through Prime Minister Relief Fund.
KOSEP is the main sponsor of UT -1 Hydroelectric Project. The hydropower project has already concluded Project Development Agreement (PDA) with Ministry of Energy, Government of Nepal on 29th December 2016 and is in a process of PPA negotiation with NEA.
KOSEP, a Government owned power generating company having installed capacity of more than 10,000 MW in South Korea, KOSEP and its subsidiary company, NWEDC strongly believe that development of electricity is one of the core factors in upgrading the living standard of people and economic development of the country.
Similarly, both companies consider Corporate Social Responsibility as a crucial component and believe in shared value creation and bringing positive impact to the society at large. As a part of this, the project contributed to the project affected communities at the time of devastating earthquake of 25th April 2015 by distributing immediate relief package to the earthquake victims in the Project area. It also constructed two school buildings and one health post in the project affected VDCs which were destroyed by the earthquake. The school buildings and health post have already been handed over to the concerned Government authorities of Rasuwa district.
The CEO of KOSEP and entire KOSEP family wish that the flood affected people as well as the country recovers from this difficulty created by flood and landslides very quickly. Also, the KOSEP family wishes that UT-1 project can be used as a tangible bridge to further enhance mutual co-operation and relationship between Nepal and Korea.