"Investment Board Nepal (IBN) has received an application from Dangote Cement PLC expressing interest to establish a cement factory in Nepal," reads a press statement issued by IBN on Friday. [break]
According to an IBN official, a three-member committee has been formed to assess the Nigerian company´s application.
The committee members are: IBN CEO Radhesh Pant, Dhurba Lal Rajbansi, director general of the Department of Industry and Sarabjeet Prasad Mahato, director general of the Department of Mines and Geology, the offical said.
“The committee will assess the application of the company and come up with a decision within next few weeks,” the official further said requesting anonymity.
“Following this, the matter will be forwarded to the IBN board of directors."
IBN CEO Pant also confirmed about the interest shown by the Nigerian company to establish a cement plant in Nepal. "They are looking for mines in Nepal," he told Republica over the phone.
The Dangote Cement PLC is a part of Dangote Group that was established in 1981 as a trading business and initial focus on cement. Over the years, the group has diversified into a conglomerate trading sugar, flour, salt and fish.
A source privy to the development revealed that Dangote has expressed interest in setting up a plant in the western Nepali district of Surkhet.
"It seems the company´s interest in establishing a cement plant in Nepal is genuine," the source said. "But it largely depends on how IBN, a high level entity to facilitate the implementation of large scale projects in the country, and the government work toward creating investment friendly climate."
Confirming the development of the issue, Krishna Gayawali, secretary at the Ministry of Industry (MoI), said the company has already presented its profile among high-ranking government officials, including Chief Secretary Lila Mani Poudel.
"Going by the information provided to us, the company´s profile looks impressive," Gayawali said. "They have also demonstrated some evidence of the company´s presence in other countries as well."
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