KATHMANDU: The 54th meeting of Investment Board Nepal (IBN) was held under the chairmanship of Prime Minister and Chairperson of the board, Pushpa Kamal Dahal, today.
The meeting approved the final draft of project development agreement (PDA) with SJVN Lower Arun Power Development Company (SLAPDC) for the development of Lower Arun Hydropower Project (669 Megawatts) and decided to send the proposal to the Council of Ministers for approval.
The negotiating committee, which has representatives from various ministries and agencies under the coordination of IBN Chief Executive Officer Sushil Bhatta, has negotiated with SJVN Ltd India in stages and prepared the final draft document of the PDA, as per the decision of the 53rd meeting of IBN.
The previous meeting of IBN approved an investment worth Rs 92.68 billion for the Lower Arun Hydropower Project.
The development of the 669MW project is expected to significantly contribute to the economic and social development of the country in the context of exporting all the energy of its production and completing the construction on time.
Similarly, the meeting has decided to correspond with the proponent regarding the compliance of the memorandum of understanding (MoU) signed on January 19, 2020, regarding the progress of Tamor Reservoir Hydropower Project (756 MW).
At the meeting, IBN CEO Bhatt informed about the progress of projects and major tasks being carried out by the Office of IBN as directed by the previous board meeting.
[caption id="attachment_37165" align="alignnone" width="1000"]
A view of 54th meeting of IBN in Kathmandu, on Sunday, May 28, 2023. Photo: IBN[/caption]
During the meeting, Prime Minister Dahal thanked the negotiation committee, Office of IBN and all related agencies and officials engaged in preparing the final draft of PDA to promote national interest in the development of Lower Arun Hydropower Project.
IBN Chairperson Dahal directed all the agencies of the government to act in a manner that is favourable to the national interest.
Also present in the meeting were Minister for Finance and Vice Chairperson of IBN Prakash Sharan Mahat; Minister of Energy, Water Resources and Irrigation Shakti Bahadur Basnet; Minister of Industry, Commerce and Supplies, Ramesh Rijal; Minister of Forests and Environment, Birendra Prasad Mahato; National Planning Commission Vice-Chairman Min Bahadur Shrestha; Chief Secretary to the Government of Nepal, Shanker Das Bairagi; Nepal Rastra Bank Governor Maha Prasad Adhikari; expert members of IBN and high-ranking government officials.
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A view of 54th meeting of IBN in Kathmandu, on Sunday, May 28, 2023. Photo: IBN[/caption]
During the meeting, Prime Minister Dahal thanked the negotiation committee, Office of IBN and all related agencies and officials engaged in preparing the final draft of PDA to promote national interest in the development of Lower Arun Hydropower Project.
IBN Chairperson Dahal directed all the agencies of the government to act in a manner that is favourable to the national interest.
Also present in the meeting were Minister for Finance and Vice Chairperson of IBN Prakash Sharan Mahat; Minister of Energy, Water Resources and Irrigation Shakti Bahadur Basnet; Minister of Industry, Commerce and Supplies, Ramesh Rijal; Minister of Forests and Environment, Birendra Prasad Mahato; National Planning Commission Vice-Chairman Min Bahadur Shrestha; Chief Secretary to the Government of Nepal, Shanker Das Bairagi; Nepal Rastra Bank Governor Maha Prasad Adhikari; expert members of IBN and high-ranking government officials.
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Published Date: May 28, 2023, 12:00 am
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