Investment Board approves investment worth around Rs 100 billion for five projects

Kathmandu / April 4: The Investment Board Nepal has approved an investment worth Rs 100 billion for five different projects.

The 57th meeting of the Investment Board Nepal that was held on Thursday has approved the investment worth Rs 100 billion for five projects.

Joint Secretary Pradyumna Prasad Upadhyay, also spokesperson of the Investment Board Nepal said that the Investment Board Nepal has approved investment worth around Rs 100 billion for five projects, Super Tamor Hydropower Project, Saurya Urja Project, Banganga, Kohalpur, Upper Morang A Hydropower Station, HuaXin Cement Narayani and L ower Manang Marsyangdi Hydroelectric Project (LMMHEP).

Joint-Secretary Upadhyay also highlighted that the committee tasked with examining issues of concession, compensation, and entryway compensation for the Arun-III Hydropower Project has had its tenure extended by one month.

Moreover, Upadhyay said that the sale and purchase of shares of Dang Cement Industries Pvt Ltd had been approved and that it had been decided to issue the survey permits for solar energy projects in Budganga and Kohalpur.

He mentioned that Re-Nicola Company, which has been exploring the establishment of a fertilizer company, has had its bank guarantee period extended. Upadhyay added that a proposal regarding the Arun III Hydropower Project’s direct agreement is to be promptly presented to the Council of Ministers.

Additionally, he mentioned discussions on implementing package 1 of a project designed under a public private partnership model for integrated waste management in the Kathmandu Valley.

A Roundtable Conference will be organized under the leadership of IBN, involving the Ministry of Federal Affairs, the Ministry of Land Management, the Ministry of Cooperatives and Poverty Alleviation, and the Ministry of Urban Development.

Upadhyay also said that the deadline for a committee assigned to address disputed matters concerning the Tamor Reservoir project has been extended.

Lastly, he noted the committee’s decision to prolong the study period for the Nijgadh International Airport project’s blueprint and development and investment framework.