Tunnel construction for Nepal's 456-MW Upper Tamakoshi hydropower plant is 50% complete, officials working on the project have told Asian news sources.
With construction of the 16-kilometer-long tunnel half finished, sources said work on the Upper Tamakoshi is progressing as scheduled.
HydroWorld.com reported earlier this month that the plant's developer, Upper Tamakoshi Hydropower Limited (UTKHPL) had decided to sell US$97.5 million in shares for the project in an initial public offering.
Overall, the Upper Tamakoshi is expected to cost $664 million and should be generating power by May 2015, according to UTKHPL.
The project is one of several revealed by Nepal's Finance Minister Baburam Bhattarai in September 2008 as part of a government initiative to increase the country's hydroelectric capacity by 10,000 MW by 2018.