Nepal Investment Bank Limited (NIBL), in a press statement, has said that is proud to extend its CSR activities in the field of education.

The bank has contributed Rs one million to Kathmandu University (KU).

The cheque was handed over by the bank’s chairman Prithvi Bahadur Pandé to vice chancellor of Kathmandu University Dr Ramkantha Makaju Shrestha to support KU’s Turbine Testing Lab for the purpose of education, research and development. This will also aid the development of indigenous industries.

KU has also entered into a technical cooperation with Norwegian University of Science and Technology (NTNU)/ Waterpower Land. It will be the first and only turbine testing laboratory in Asia.

Currently, there is a huge gap between supply and demand of electricity in Nepal. The government plans to develop 38,000 MW by the year 2035, which requires high quality, performance and reliability of locally produced turbines.

The success of the turbine testing lab could prove invaluable to the country, as this will help reduce investment in hydropower projects by reducing uncertainties of turbine performance and competence in turbine design and manufacturing.

The relationship between NIBL and KU was established in 2004. NIBL opened a counter on the premises of KU in 2006, which has proven to be very productive and efficient. NIBL strives to maintain its strong affiliation with a prestigious educational institution such as Kathmandu University.

source: the himalayan times,2 Oct 2013