KATHMANDU: The 51st meeting of Investment Board Nepal held under the chairmanship of Prime Minister and Chairperson of the Board Sher Bahadur Deuba concluded on Monday.
The meeting held at the Office of the Prime Minister and Council of Ministers (OPMCM), Singha Durbar, approved investment of Rs 25.92 billion for the construction and development of two hydropower projects.
The investment was approved for 99.8MW Tamakoshi-V Hydropower Project in Dolakha district costing Rs 16.45 billion and 40MW Rahughat Hydropower Project in Myagdi district costing Rs 9.47 billion and 3 million.
The meeting will continue to implement the report along with the recommendations submitted by the study committee formed with the purpose of preparing development and investment blueprint for West Seti and SR6 Joint Storage Hydroelectric Project. In this regard, the meeting also recommended the Council of Ministers for a decision on the request made by NHPC Limited, Government of India Enterprise for the implementation of the project through negotiations.
GMR- Upper Karnali Hydropower Company, developer of 900MW Upper Karnali Hydropower Project, recommended the government to extend the term with a condition to complete the financial management within 24 months. Likewise, the meeting also decided to resume the negotiation with Motrex Co for the development of Vehicle Manufacturing and Assembly Plant project.
In the meeting, PM Deuba emphasized on the development of reservoir based projects in the hydropower sector and directed the stakeholders to adopt environment-friendly technologies in line with the international commitments made by the Government of Nepal while developing and operating the projects.
[caption id="attachment_24630" align="alignnone" width="1000"]
Investment Board Nepal CEO Sushil Bhatta addresses the 51st meeting of the board held at the Office of Prime Minister and Council of Ministers in Singha Durbar, Kathmandu, on Monday, June 6, 2022.[/caption]
During the meeting, IBN CEO Sushil Bhatta informed about the progress made in the project development as per the previous board meeting. He also briefed the investment promotion and other activities undertaken by the office of the Investment Board Nepal.
Present at the meeting were Finance Minister and Vice Chairperson of IBN, Janardan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu, Minister for Forests and Environment Ramsahay Prasad Yadav, National Planning Commission Vice-chairman Biswo Nath Poudel, Chief Secretary Shanker Das Bairagi, Governor of Nepal Rastra Bank Maha Prasad Adhikari, IBN expert members Haribhakta Sharma, Bhawani Rana, Rajesh Kaji Shrestha and Balkrishna Siwakoti among others.
READ ALSO:
Investment Board Nepal CEO Sushil Bhatta addresses the 51st meeting of the board held at the Office of Prime Minister and Council of Ministers in Singha Durbar, Kathmandu, on Monday, June 6, 2022.[/caption]
During the meeting, IBN CEO Sushil Bhatta informed about the progress made in the project development as per the previous board meeting. He also briefed the investment promotion and other activities undertaken by the office of the Investment Board Nepal.
Present at the meeting were Finance Minister and Vice Chairperson of IBN, Janardan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu, Minister for Forests and Environment Ramsahay Prasad Yadav, National Planning Commission Vice-chairman Biswo Nath Poudel, Chief Secretary Shanker Das Bairagi, Governor of Nepal Rastra Bank Maha Prasad Adhikari, IBN expert members Haribhakta Sharma, Bhawani Rana, Rajesh Kaji Shrestha and Balkrishna Siwakoti among others.
READ ALSO:
Published Date: June 7, 2022, 12:00 am
Post Comment
E-Magazine
Click Here To Read Full Issue
RELATED B360 National
