Investment Board accepts Rs 185 billion for seven projects

KATHMANDU: Investment Board has accepted seven projects equivalent to Rs 185.43 billion.

The Board’s 44th meeting held on Friday accepted the investment for five hydropower and two related to cement industries. The meeting was held under the chair of Prime Minister KP Sharma Oli.

Rs 78.65 billion has been endorsed for the 327-megawatt Upper Marshyangdi Hydropower Project-2; Rs 6.30 billion for the 42.9-megawatt Aakhu Khola Hydropower Project; Rs 13.57 billion for the 97.2-megawatt Isuwa Khola Hydropower Project; Rs 10.31 billion for 57.3-megawatt Myagdi Khola Hydropower Project, and Rs 28.6 billion for 164-megawatt Kaligandaki Gorge Hydropower Project have been accepted.

Likewise, Rs 32.5 billion has been okayed for Dang Cement Industry and Rs 15.5 billion for the Samrat Cement Industry, according to the Board.

Besides, the Risen Energy Singapore JV PTE Ltd has been granted a survey license to study the development and operation of two solar energy projects based in Kohalpur of Banke and Banganga of Kapilvasti on public-private partnership model.

The total capacity of twin projects in 125 megawatts with the storage capacity of 20 megawatts.

Moreover, the meeting decided to extend the deadline for submitting a detailed project report of the Nepal China Friendship Park, Damak; Muktinath Cable Car; Multimodal Logistics Park, and Private Freight Terminal and Bulk Handling Facilities bearing in mind the ongoing COVID-19 crisis.