Kathmandu, May 27
The Investment Board of Nepal (IBN) has
decided to move forward by reviewing the final detailed feasibility study
report concerning the establishment of a chemical fertiliser plant in Nepal.
The 63rd meeting of the IBN,
held at the Prime Minister's Office on Tuesday evening, decided to form a task
force to review and reassess the report received from Germany’s DIAG Industries
GmbH and to recommend appropriate options. The company had initiated the
feasibility study following the Board's decision made in June 2020, according
to a statement issued by the Prime Minister's Secretariat.
The meeting, chaired by Prime Minister KP
Sharma Oli, also decided to process the proposal received regarding the
detailed study, development, and operation-management of the Panchkhal Special
Economic Zone (SEZ) Project through a competitive process in line with the
Swiss Challenge model.
Furthermore, the board resolved to form a
task force to study the Double Taxation Avoidance Agreements (DTAAs) and
Bilateral Investment Promotion and Protection Agreements (BIPPAs) signed to
date with various countries, and to present a report to the IBN regarding the
possibility of entering into similar agreements with additional countries.
Likewise, a committee has been formed to assess
the proposal related to the 'Deep Sea Bed Mining' project, examining its
economic and technical aspects in line with relevant international laws,
national policies, and legal provisions, and to present a report to the Board.
The meeting authorised the Board’s office
to issue a survey licence for a green hydrogen project in Nepal, in line with
the proposal received for the study and establishment of a related industry.
In a bid to expedite operations more
efficient and effective, a decision was made to delegate some of the Board’s
authorities to Chief Executive Officer Sushil Gyawali.
Additionally, the meeting recommended to
the Government of Nepal the formation of a Project Review Task Force in accordance
with the provisions of the Project Development Agreement for the
under-construction Arun-III Hydropower Project.
Published in The Rising Nepal daily on 28 May 2025.
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