Kathmandu, Aug. 8
The
Investment Board of Nepal (IBN) has approved the memorandum of understanding
with the developer company NHPC Limited – an Indian government Enterprise – to
study for the development of 750-Megawatt West Seti and 450-MW Seti River-6 joint
hydroelectricity projects.
The
52nd meeting of the Board chaired by Prime Minister and Chairman of the IBN Sher
Bahadur Deuba held on Monday at the Prime Minister's Office in Singhadurbar has
also directed the office of the IBN to proceed with the necessary preparations
related to the investment approval and project development agreement (PDA) of
679-MW Lower Arun Hydroelectricity Project.
Likewise,
it also decided to provide survey license to Himtal Hydropower Company Pvt.
Ltd. to conduct study on 327-MW Upper Marsyangdi – 2 Hydroelectricity Project.
A
decision was also made to organise Sustainable Infrastructure Investment
Forum-2022 in the second week of October this year with the aim of promoting investment
in sustainable infrastructure development in Nepal.
Similarly,
it decided to implement the decision of the Cabinet regarding the financial closure
of the Upper Karnali Hydropower Project.
In
the meeting, PM Deuba instructed the board to proceed with the study and
construction of national priority projects such as West Seti, Upper Karnali,
Arun -3, and Lower Arun within the stipulated time.
The
Ministry of Finance, Ministry of Energy, Ministry of Land Reform and Ministry
of Forestry and other relevant agencies should be effectively coordinating, he
said.
The
work should be conducted in a way that shows the result of cooperation, and
emphasize should be given to the adoption of technologies that reduce the
negative impact on the environment and human health while developing cement
industries, instructed the PM.
Sushil
Bhatt, the Chief Executive Officer of the IBN, has informed about the progress
regarding the project development and the activities carried out by the office
in the areas of investment promotion, project development, institutional
capacity development and partnership.
Published in The Rising Nepal dain 9 August 2022.
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