1. INTRODUCTION
Sagarmatha Power Company (P) Limited (hereinafter
mentioned as SPCL was established and registered with
His Majesty's Government of Nepal in September 10, 1997
(Bhadra 25, 2054) under the Company Act 1997 with the
objective of:
- Utilization of water resources for production of
electrical energy within the framework of the Hydropower
Development Policy 1992 (2049) and the Electricity
Act 1992 (2049).
- Augmentation of public sector electric supply system
for efficiently meeting the growing domestic demand;
and
- Entering into direct distribution and sales of electricity
to domestic as well as foreign consumers.
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Specially,
SPCL has the following objectives in mind
:-
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To plan, investigate,
design, build, own and operate small and medium
size hydropower projects;
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To undertake management
contracts for operation of hydropower projects;
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To undertake the rehabilitation
works of hydropower projects;
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To provide engineering
and other consulting services for hydropower
development and power related sector; and
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To collaborate, if required,
with foreign firms as well as local firms
for achieving the above objectives.
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The birth of SPCL was a culmination
of effort of the principals with all determinations
and commitments of its directors who have got long &
wide professional and management experiences of proven
quality.
SPCL's main motto is "Provide
management services of highest professional standard
in the field of hydro-power to ensure client satisfaction
and reputation for excellence".
2. EQUITY HOLDING
SPCL is promoted by the following two Nepalese
companies and an individual, viz.,
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- Chitawon Co-E Nepal
(P) Ltd.
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- GEOCE Consultants (P)
Ltd.
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Chitawon Co-E has the major (83%) shareholding with
GEOCE (7%) and Mr. Harsha Man Shrestha (10%) in the
Company.
3. ORGANIZATION AND MANAGEMENT
3.1 Organization
 SPCL
is wholly owned by two reputed companies and an individual.
It has got the advantage of pulling the requisite quantity
of experts professional personnel and administrative
and financial resources. The management is at the hands
of professionals and managers who have got direct and
extensive experiences as required by the SPCL. The strength
of SPCL is the sum total of the strengths of its constituent
members. The following is the key strength of constituent
members.
Chitawon Co-E is one of the foremost
construction company in Nepal and is in business since
more than three decades. Chitawon Co-E has wide experience
in the construction of infrastructure sector, e.g.,
water resources, irrigation, roads, industrial and commercial
buildings and other general fields. It has got five
major sector concerns such as
- Manakamana Darshan
(P) Ltd.
- Sagarmatha Power Co. (P) Ltd.
- Nepal Ropeway System
(P) Ltd.
- Aar Bee Enterprises
(P) Ltd.
Being greatly motivated by the Hydropower Development
Policy 1992 (2049), Chitawon Co-E has diversified its
experience and capability in the hydropower sector by
establishing this SPCL.
GEOCE Consultants is also one of the leading domestic
consultant in the field of rrigation and drainage engineering,
agriculture, urban planning, rural development, power
and energy sector, water supply and sanitation sector.
It has been in business since June 1986 and has grown
to one of the most competitive domestic consultant in
a short span of time.
Mr. Harsha Man Shrestha, former Managing Director of
Nepal Electricity Authority and Chief Engineer of the
Department of Electricity has 35 years experience in
the field of power generation and supply.
3.2 Management of the Organization
At present the management of SPCL is
done by three personnel deputed form the constituent
members.
3.2.1 Mr. Harsha Man Shrestha, is the Managing Director
of SPCL. Mr. Shrestha has got wide experience of 35
years in the field of Electrical Engineering and Hydropower
Project planning implementation. He has got practical
experience of construction of hydropower project, as
the Project Chief in the following projects:
- Panauti Hydroelectric Project (2.4 MW)
- Sunkoshi Hydroelectric Project (10.05 MW)
- Kulekhani-1 Hydroelectric Project (60 MW)
He was Chief Engineer of the Department
of Electricity for more than five years and later Managing
Director of Nepal Electricity Authority for four years.
During these periods he had overall responsibility for
investigation, planning and design and construction
of hydropower projects and distribution of electrical
energy to the consumers. During his tenure as Chief
Planning Co-ordinator in the Ministry of Water Resource,
he worked towards formulation of strategies for the
development of hydropower. His curriculum vitae is attached
herewith.
3.2.2 Mr.Gokul Lal Amatya, Director
of the Governing Board of Directors of GEOCE  Consultants,
Director representing GEOCE on the Governing Board and
Technical Director of SPCL. Prior to retirement in 1987
(2044), after serving HMG for almost 27 years, Mr. Amatya
had served as Regional Director (1985-1987) and Deputy
Director General in Irrigation Department (1972-74,
1978-1980 and 1983-1985), Project Manager (Chitawon
Irrigation Project 974-1978 and 1980-1983), Head of
Department of Hydrology and Meteorology (1965-67 and
1970-72) and Senior Hydrologist in Department of Hydrology
& Meteorology (1967-1970) and Engineer in Electricity
Depatment (1960-65).
3.2.3 Mr. Rajesh Babu Shrestha, Director
Governing Board of Chitawon Co-E Nepal (P) Ltd., shareholder
and Managing Director of Manakamana Darshan (P) Ltd,
Aar Bee Enterprises (P) Ltd., Nepal Ropeway System (P)
Ltd. Shareholder and Director of Sangrila Printing Services,
Director representing Chitawon Co-E on the Governing
Board and Director (Finance & Administration) of
SPCL.
4. Resources
The resources of SPCL are composed of the resources
held by its constituent companies. The following are
the resources of its companies.
4.1 Financial Resources
Chitawon Co-E Nepal (P) Ltd.
 Chitawon
Co-E has the most of the financial resources. Its annual
turnover is about NRs. 339 Million during fiscal year
1997/98. It has got its total assets worth NRs. 192.43
million, its working capital is NRs. 41.80 million and
credit facilities of NRs. 200 million from a number
of banks in Nepal are available from which investment
will be made to SPCL as required
GEOCE Consultants (P) Ltd.
GEOCE Consultants has an assets of NRs. 8.3 million
with working capital of NRs. 4.8 million at the end
of the fiscal year 1997/98. It has got credit facilities
of NRs. 8.5 million from Nepal Grindlay's Bank Ltd.,
Naya Baneswor, Kathmandu.
4.2 Other Resources
CHITAWON CO-E NEPAL (P) LTD.
Chitawon Co-E has all the technical as well as financial
and administrative manpower required to undertake the
civil engineering works. The technical and non-technical
facilities are
- Field test equipment for soil and rock investigation,
drilling, sampling pavement tests
- Engineering survey equipments
- Drafting equipment for drawing and map preparation
- Computer facilities for data processing, programming,
analysis, design, drawings and report preparation
- Report and document reproduction facilities
- A comprehensive library
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