The promoters of the Indrawati hydro-project are planning to issue Rs 140 million worth of shares to the general public. Preliminary work for the issue is underway and company sources say a formal announcement is imminent. The 7.5 MW project is expected to begin power production later this year. The project, estimated to cost $19 million upon completion, has power selling agreements with the Nepal Electricity Authority (NEA). It will sell electricity at Rs 3 per unit during the monsoon and Rs 4.26 in the dry season. The NEA will pay for 70 percent of the power purchase amount in convertible currency for 10 years and in Nepali Rupees thereafter. The company has a 25-year power selling agreement with the NEA.