Arun III, Upper Karnali get financial closure deadline extension

Published On: November 13, 2017 05:40 PM NPT By: Republica


KATHMANDU, Nov 13: A meeting of Investment Board Nepal (IBN) has extended the deadline of Arun-III Hydropower Project and Upper Karnali Hydropower Project for financial closure.

The 28th meeting of the IBN chaired by Prime Minister Sher Bahadur Deuba has extended the deadline of Arun-III hydro power project for six months starting September 30, 2017 to complete financial closure.

Similarly, the meeting also extended financial closure deadline of Upper Karnali Hydropower Project for a year, staring September 18, 2017.

Both the hydropower projects had requested the IBN to extend the deadline for financial closure citing the delay in acquiring required forest areas and private land.

The meeting also directed the office of the IBN to take forward the project to build two metro lines in a BOOT model.

It also directed the Board to expedite the works including the preparations of DPR.

 


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