Kathmandu, Nov. 28
The Investment Board Nepal (IBN) has approved investments
for several hydroelectricity projects, including the Budhigandaki HEP.
The 60th meeting of the Board chaired by Prime Minister
KP Sharma Oli at Singha Durbar on Thursday sanctioned a funding of Rs. 70
billion for the 341 MW Budhigandaki HEP, Rs. 23.59 billion for the 106 MW
Jagdulla Semi-Reservoir HEP, and Rs. 47.54 billion for the 210 MW Chainpur Seti
HEP.
Additionally, the IBN extended the deadlines for the 327 MW
Upper Marsyangdi HEP and Samrat Cement Company Pvt. Ltd., the Board informed in
a statement.
Likewise, the capacity of the West Seti Hydropower Project
has been increased from 750 MW to 800 MW, and an amendment has been approved
for its four-cornered designated area permit. Similarly, decisions were made to
modify the share structure and agreement documents of the Upper Karnali
Hydropower Project.
Prime Minister Oli urged relevant authorities to work in a
coordinated manner to foster a conducive environment for investment and
accelerate the nation's journey toward prosperity. He emphasised the need to
utilise existing laws and policies effectively for development and progress.
Speaking at the meeting, Sushil Gyawali, Chief Executive
Officer of the Board, provided updates on the draft strategic and business plan
being prepared based on the board's earlier decision from October 8. According
to him, discussions with stakeholders are ongoing.
Published in The Rising Nepal daily on 29 November 2024.
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