With limited projects in its ambit, Investment Board Nepal (IBN) has now started exploring new projects which will be later showcased at different forums to draw foreign investments. The IBN’s board meeting decided to conduct a feasibility study of five different mega projects. The projects, if found feasible both technically and financially, will later be awarded through open competition.
The meeting led by Prime Minister KP Oli has approved the documents for inviting expression of interest from interested firms and companies for feasibility study of five projects: a glass mine industry, Shey Foksundo luxury resort, an integrated agriculture project, a ski resort, and a city of health, education and sports. IBN’s spokesperson Uttam Bhakta Wagle said firms or companies that are selected will conduct feasibility study within the next six months. The IBN said all projects will be awarded to the prospective developer through competitive bidding.
Unlike his predecessors, Oli has put the IBN’s work in priority. He has already called two meetings of the board after assuming office. The IBN, which is for mega projects dealing with investments of over Rs 10 billion or 500 MW in case of hydropower projects, has so far been neglected. The ministries have been denying handing over projects such as Upper Tamakoshi III (650 MW), Kathmandu-Tarai Expressway, and Budhigandaki Hydropower Project to the board.
