Investments will come in high hill crop production, infrastructure and hospitality sectors

KATHMANDU, June 23: A company promoted by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Bhawani Rana, among others, has signed a preliminary agreement to bring US$ 46 million (about Rs 5 billion) worth of investment from China.

Rana, the chairman of Fortuna Investment Pvt Ltd, signed the agreement with the CEO of Guizhou Maritimes Silk Investment Corporation on the sidelines of Prime Minister Khadga Prasad Oli’s visit to China.

Prabal Jung Pandey and Bharat Acharya are the other promoters of Fortuna. The three have invested Rs 100 million in the company.

Talking to Republica, Pandey, director of the company, said: “The agreement is only preliminary. We are yet to work out details like project identification. Investments will come on project-wise basis.”

“These investments, which will be injected over three to four years, will be in a range of areas like high hill crops, export, infrastructure and tourism sectors,” Pandey, who returned to Nepal on Friday, said.

He further added that the company plans to produce crops in high hills in a commercial manner. “Our focus will also be on exports and infrastructure projects,” Pandey said, adding that they were at a preliminary phase of project identification. The focus of the company will be on exporting agri products to China, added Pandey.

Similarly, it also plans to make investments in transmission line, solar power smart city and highway, among others.

 
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