60th IBN meet approves investments in multiple hydel projects 

KATHMANDU: The 60th meeting of the Investment Board Nepal (IBN), held on Thursday, approved investments in several hydropower projects.

The meeting, held in Singha Durbar, Kathmandu, decided to approve investments of Rs 70 billion in the 341-megawatt (MW) Budhigandaki Hydropower Project, Rs 23.59 billion in the 106-MW Jagadulla Semi-Reservoir Hydropower Project, and Rs 47.54 billion in the 210-MW Chainpur Seti Project. The meeting was chaired by Prime Minister KP Sharma Oli, who is also the chairperson of IBN.

The meeting also extended the term for the 327-MW Upper Marsyangdi Project and Samrat Company. As per the meeting's decision, the capacity of the 750-MW West Seti Project is to be increased to 800MW.

During the meeting, Prime Minister Oli urged relevant bodies to coordinate their efforts to create an environment conducive to investment. He also informed the meeting that the draft of the IBN's strategic and professional plan has been prepared, and discussions with stakeholders are ongoing.