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KATHMANDU: Investment Board Nepal (IBN) has decided to recommend the Council of Ministers to solve the problems of Chhyangkuti-Diding road section (0-24km), the entrance of the under-construction 900MW Arun-3 Hydropower Project in Sankhuwasabha district.
IBN Chairperson and Prime Minister, Pushpa Kamal Dahal, who chaired the 56th Board Meeting on Tuesday, said that since the Arun-3 Hydropower Project is a foreign investment project being implemented under the concept of public-private partnerships, its smooth and successful implementation and effective facilitation will convey the message that there is a favourable environment for foreign investment. PM Dahal also instructed the officials to work properly on the hydropower project.
The physical progress of this project, which is being constructed by developer SJVN Power Development Company Pvt Ltd at a cost of Rs 144 billion, is 66.3% and 15.46% towards the transmission line.
In the meeting, IBN CEO Sushil Bhatta made a brief presentation regarding the activities conducted by the Board. Further, he apprised the meeting of the implementation status of the 55th IBN Board meeting decisions and the agenda of 56th Board meeting. Bhatta opined that the entire mechanism of the government should take effective steps to fulfil the contractual obligations of the project development agreement (PDA).
Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet, Minister for Industry, Commerce and Industries Ramesh Rijal, Minister for Forests and Environment Birendra Prasad Mahato, Government Chief Secretary Baikuntha Aryal, expert representatives from the private sector including Bhawani Rana, Haribhakta Sharma, Rajesh Kaji Shrestha and high-ranking officials of the Government of Nepal were also present at the meeting.
