52nd Board meet of IBN concludes

KATHMANDU: The 52nd Board meeting of Investment Board Nepal (IBN) held under the chairmanship of Prime Minister and IBN Chairperson Sher Bahadur Deuba concluded on Monday. The meeting held at the Office of the Prime Minister and Council of Ministers in Singha Durbar, Kathmandu approved the agreement to be made with NHPC Limited, Government of India Enterprises, to carry out feasibility study for the development of West Seti (750 megawatts) and SR6 (450MW) Joint Storage Hydroelectric Project. Likewise, the meeting directed the Office of the IBN to proceed with the approval of the investment and development of Lower Arun Hydropower project (679MW). Similarly, the IBN Board meeting decided to grant permission to Himtal Hydropower Company to conduct a survey and feasibility study of Upper Marsyangdi-2 (UM-2)Hydropower Project (327-MW). The meeting also decided on the implementation of the decision taken by the Council of Ministers on the financial management of Upper Karnali  Hydropower Project. Moreover, the meeting decided to hold 'Sustainable Infrastructure Investment Forum-2022' in the second week of September to promote investment in sustainable infrastructure development in Nepal. On the occasion, PM Deuba directed to carry out feasibility study and the construction of national priority projects such as West Seti, Upper Karnali, Arun III, Lower Arun in time. He also urged Finance Ministry, Ministry of Energy, Water Resources and Irrigation, Ministry of Land Management, Cooperatives and Poverty Alleviation, Ministry of Forests and Environment, and other stakeholders concerned to work in coordination. PM Deuba further urged the stakeholders to adopt technologies to minimise negative effects on the environment and public health while developing cement industry projects. PM Deuba directed to move forward by attracting investment in the construction of large infrastructure and facilitating projects. [caption id="attachment_27255" align="alignnone" width="2048"] Prime Minister Sher Bahadur Deuba among other members attend the 52nd Board meeting of Investment Board Nepal (IBN) held under his chairmanship at the Office of the Prime Minister and Council of Ministers in Singha Durbar, Kathmandu, on Monday, August 8, 2022. Photo: IBN/Facebook[/caption] Likewise, IBN CEO Sushil Bhatta apprised the meeting of the progress made on project development as directed by the previous IBN Board meeting. He also informed about IBN's activities in the area of investment promotion, project development, institutional capacity development and partnership. CEO Bhatta expressed his commitment to moving forward with the development and facilitation of projects in high spirit as per the Board's directives. Present in the meeting were Finance Minister Janardan Sharma, also Vice Chairperson of IBN, Minister for Energy, Water Resources and Irrigation, Minister for Forests and Environment, Vice-Chairman of National Planning Commission, chief secretaries of Government of Nepal, Private sector representatives of IBN, Bhawani Rana, Rajesh Kaji Shrestha, Bal Krishna Siwakoti and other high ranking government officials. READ ALSO:

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