NST owner to invest NPR6bn in telecoms expansion plan

24 Dec 2013

Nepal Satellite Telecom (NST) owner the Muktishree Group has announced plans to invest a further NPR6 billion (USD61.4 million) in the country, as part of a wider five-year NPR23.5 billion investment that the conglomerate is taking in developing its various hydropower, hotels, retail and cement factory operations there. The Group’s chairman Ajay Raj Sumargi says that the company had received loans totalling NPR18 billion from Europe-based Zhodar Investment and Airbell Investment to implement its various schemes, and in respect of NST – which provides telecoms services in the mid-western part of the country under the brand Hello Nepal – the parent is hoping to take Hello nationwide by February 2014, and is currently extending its reach in the Far Western and Western regions. The chairman says: ‘Telecommunication is a costly business. We have already made an investment of NPR3 billion, and we sank another NPR4 billion into our expansion plan in the Far Western and Western regions.’

Nepal, Nepal Satellite Telecom (NST),

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