Investment Board approves investment of Rs 185.43 billion for seven projects

Published On: June 20, 2020 01:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 20: The Investment Board Nepal (IBN) has approved a cumulative investment worth Rs 185.43 billion to be invested in seven projects in the pipeline.

According to the IBN, its meeting headed by the IBN Chair Prime Minister KP Oli on Friday gave the green signal to five hydropower projects and two cement manufacturers. The projects receiving the government permission include the Upper Marsyangdi Hydropower-2 (357 MW) that will be built with an estimated cost of Rs 78.65 billion.

Similarly, Kaligandaki Gorge Hydropower (164 MW) has been permitted to invest Rs 28.60 billion, Isuwa Khola Hydroelectric (97.2 MW) to invest Rs 13.57 billion, Myagdi Khola Hydropower (57.3 MW) to invest Rs 10.31 billion and Ankhu Khola Hydropower (42.9 MW) to invest Rs 6.30 billion.

Likewise, the IBN meeting has also okayed Dang Cement Industry and Samrat Cement Industry to install their production plants for the investment of Rs 32.50 billion and Rs 15.05 billion, respectively. It also gave the go-ahead to Risen Energy Singapore JV Pvt Ltd to conduct a survey on two solar power projects with capacity of 125 MW each planned to be installed in Kohalpur of Bake District and Banganga of Kapilvastu. Both these storage projects have proposed to keep stock of 20 MW power as backup.

Citing the ongoing threat of the global pandemic, the IBN meeting also extended the deadline to submit the detailed project reports of the projects that include China-Nepal Friendship Industrial Park, Muktinath Cable Car, Multimodal Logistics Part and Private Freight Terminal and Bulk Handling Facilities. 

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