Letter of intent on two projects presented in Investment Summit received

KATHMANDU: Letters of intent have been received for two projects that were showcased in the third Investment Summit held in Kathmandu on April 28 and 29.

Ramesh Adhikari, joint spokesperson for the Investment Board Nepal (IBN), announced that Soaltee Shivkrim, Tahachal, submitted a letter of intent for the Janaki Heritage Hotel and Cultural Village. Additionally, the Gansu-SS Landmark at Blue Bird Mall in Kathmandu registered a letter of intent for the Babarmahal Administrative Plaza Project.

The estimated cost of the Janaki Heritage Hotel and Cultural Village Project is Rs 2.35 billion. The Investment Board Nepal conducted a study on this project, proposing its construction to develop Janakpurdham as a major tourism destination and expand the area as an eco-tourism zone.

Similarly, a call for letters of intent was issued during the investment summit for the construction of the Babarmahal Administrative Plaza. The project aims to house various government offices and covers an area of 30,021 square metres. Its estimated cost is Rs 10.2 billion.

The IBN extended the deadline for submitting letters of intent for the 12 projects under its jurisdiction. Pre-feasibility studies for these identified projects have been completed, and initial development work is underway.

A total of 19 projects were showcased during the investment summit to mobilise investment.