KATHMANDU: Investment Board Nepal (IBN) has approved an investment of Rs 185.43 billion for seven projects.
Five hydro power projects and two cement projects are among those receiving the approval.
A meeting of the IBN chaired by Prime Minister KP Sharma Oli on Friday approved Rs 78.65 billion for Upper Marshyangdi Hydropower-2 project (327 megawatt), Rs 6.3 billion for Ankhukhola Hydropower (42.9 megawatt), Rs 10.31 billion for Myagdikhola Hydropower (57.3 megawatt), Rs 13.57 billion for Isuwakhola Hydroelectric (97.2 megawatt) and Rs 28.6 billion for Kaligandaki Gorge Hydropower (164 megawatt).
Similarly, the meeting also approved Rs 32.5 billion for Dang Cement Industries project and Rs 15.5 billion for Samrat Cement Industries project, according to the press note issued by the Board.
The meeting decided to extend the deadline to submit detailed project report (DPR) of China-Nepal Friendship Industrial Park, Damak, Muktinath Cable Car, Multi-Model Logistics Park and among other projects.
Finance Minister and Board Vice Chairman Dr Yuba Raj Khatiwada, Minister for Energy, Water Resources and Irrigation Barshaman Pun, Minister for Industry, Commerce and Supplies Lekh Raj Bhatta and Minister for Forest and Environment Shakti Bahadur Basnet and Minister for Physical Infrastructure and Transport Basanta Nembang were present in the meeting.
Also present in the meeting were Vice Chairman of National Planning Commission Prof. Dr. Pushpa Raj Kandel, Nepal Rastra Bank Governor Maha Prasad Adhikari, representatives from the private sector Bhawani Rana, Rajesh Kaji Shrestha among others.
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