Silver Heritage Group says the opening of its Tiger Palace Resort Bhairahawa in Nepal will be pushed back as a result of “temporary unexpected delays.”
The announcement states that a “shortage of liquidity in the Nepal banking system” and “unanticipated delays in the issuance of approval for Silver Heritage to increase the equity ceiling of its corporate investment vehicle in order to fund construction costs” have been the main reasons for the delay in on-site activity.
The company says the process is expected to take several weeks.
