June 21 : The Investment Board Nepal (IBN) has approved a total foreign direct investment (FDI) of Rs 185.43 billion for seven projects
The 44th meeting of the IBN, which was led by Prime Minister as well as board chief KP Sharma Oli, made such an approval on Friday (June 19).
Of the said seven projects , five are related to hydropower and the remaining two to cement.
The Upper Marshyangdi Hydropower-2 Project (357 MW), Kaligandaki Gorge Hydropower (164 MW) and Isuwa Khola Hydroelectric (97.2 MW) secured the investments of Rs 78.65 billion, Rs 28.60 billion and Rs 13.57 billion respectively. Similarly, Myagdi Khola Hydropower (57.3 MW) and Ankhu Khola Hydropower (42.9 MW) will be built at the costs of Rs 10.31 billion and Rs 6.30 billion respectively.
The board also approved the investment of Rs 32.50 billion for Dang Cement Industries and Rs 15.05 billion for Samrat Cement Industries.
Meanwhile, the IBN meeting decided to provide a survey licence to Risen Energy Singapore JV PTE for the development and operation of two separate 125 MW solar power projects in Banke and Kapilvastu under the public-private-partnership model.
It also decided to extend the deadline to submit the detailed project report for four projects—Damak Clean Industrial Park, Muktinath Cable Car, Multi-Modal Logistics Park, and Private Freight Terminal and Bulk Handling Facilities.
The preparation of these detailed project reports have been affected by the Covid-19 pandemic.
