Kathmandu: Sagarmatha Insurance Company Limited has paid Rs. 123 million to Madi Power Pvt for loss against damage caused to one of its hydropower project in the western Nepal.
A symbolic cheque against the claim amount has been handed over by Chunky Chhetri, Chief Executive Officer of Sagarmatha Insurance to Vel Junchao,General Manager of Madi Power Pvt. Ltd. The damage was caused due to flood and landslide to the 25 MW Madi Hydro Electricity Project situated in Kaski District.
Sagarmatha Insurance has stated that it has settled the claim of Rs 1.53 billion during current fiscal year.