Organizing a press conference on Sunday, Bidur Gautam, one of the organizers, said that the tournament will carry a total cash prize of Rs 300,000 with top five players receiving Rs 60,000, Rs 40,000, Rs 25,000, Rs 15,000 and Rs 10,000 respectively. Similarly, sixth and seventh position holders will bag purse of Rs 8000 each while eighth to tenth will receive Rs 6,000 apiece. Players finishing from 11th to 20th position will also be awarded with cash prize.
Besides this best unrated, best U-18 players, best player from Eastern Region, veteran player, U-14 player and best women player will also be awarded with cash prizes.
According to Gautam, they are trying to bring 60 foreigner players and more than 30 have confirmed their participation in the tournament. Altogether 200 players will be competing in the tournament from at least 10 different countries.
"Grand Master from America, Australia and Germany, International Masters from India have already confirmed participation," Gautam said adding, "Besides players from India, Pakistan, Sri Lanka, Bangladesh, UAE, Singapore, Malaysia, Philippines have also shown interest for participation," Gautam said.
The world chess federation have approved the tournament to be held under Swiss League System until 10 rounds. Technical manpower -- international arbiters from India, Bangladesh and host Nepal will conduct the matches.
Gajurmukhi Construction Company Pvt Ltd, Ilam is the chief sponsor and Federation Contractors Association of Nepal, Kathmandu is the co-sponsor. The expected cost of the event is Rs 1.3 million.
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