The Investment Board of Nepal has approved the investment for the Muktinath Cable Car Project along with several other infrastructure and energy projects.
A meeting chaired by Prime Minister and Board Chair KP Sharma Oli on Thursday approved the construction of an 81.041-kilometer-long cable car line from Sera Phant (Birethanti–Naya Pul) in Parbat to Muktinath in Mustang, with stations at seven locations along the route.
The project, estimated to cost Rs 57.64 billion, is proposed to be developed under the Build, Own, Operate, and Transfer (BOOT) model by Muktinath Darshan Pvt. Ltd. To advance negotiations on project development terms, the Board has formed a committee led by Chief Executive Officer Sushil Gyewali. Once operational, the cable car is expected to significantly boost local tourism and employment opportunities.
The meeting also decided to conduct further detailed studies on the 750-megawatt West Seti reservoir-based hydropower project, which entails an estimated investment of Rs 160 billion. Additionally, the Board resolved to seek Cabinet approval for a draft agreement with KORAIL, a South Korean railway organization, to explore potential collaboration in Nepal’s railway sector.
Furthermore, the Board approved investments for several hydropower projects, including:
- 43.2 MW Chilung Khola Hydropower Project
- 216 MW Upper Seti Hydropower Project in Bajhang
- 44 MW Bakan Khola Hydropower Project
The meeting also decided to move forward with proposals for setting up a refined edible oil industry in Janakpur and establishing IT parks in various locations across the country.
