KATHMANDU, April 4: The Investment Board Nepal (IBN) has sanctioned investments totaling Rs 100 billion for five distinct projects.

The 57th meeting of the IBN, held on Thursday, approved investments amounting to Rs 100 billion across five projects. These projects include the Super Tamor Hydropower Project, Upper Morang A Hydropower Project, a Solar Energy Project in Kohalpur Badganga, HuaXin Narayani Cement, and the Lower Manang Marsyangdi Hydropower Project.

IBN Spokesperson Pradyumna Prasad Upadhyay announced the approval of investments for these projects. He mentioned the formation of a negotiation committee to discuss the Project Development Agreement (PDA) for the solar energy project at the upcoming Investment Conference, as there are several tasks to be addressed during the project implementation phase.

Further, Upadhyay revealed that after reviewing detailed project information for the Upper Marsyangdi Hydropower Project, a decision was made to form a negotiation committee.

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.