Investment worth Rs 38.68 billion approved for three projects

KATHMANDU: The 45th meeting of Investment Board Nepal (IBN) was held under the chairmanship of the Right Honorable Prime Minister and IBN’s chairman Mr. K.P Sharma Oli, on 10th November. The meeting convened in Baluwatar, Kathmandu approved investment worth Rs 38.68 billion for three hydropower projects to be implemented under Public-Private Partnership (PPP) modality. The meeting granted approval for investment worth Rs 17624 million for 77.5-MW Ghumsakhola Hydropower Project, Rs 10619.1 million for 57-MW Himchuli Dordi Hydropower Project and Rs 10436 million worth of investment for 65-MW Dudhkhola Hydropower Project.
The meeting also discussed developing a project bank and a strategic plan, in consultation with relevant stakeholder agencies, for capacity enhancement and institutional development of the Office of the Investment Board Nepal (OIBN). The meeting also decided to implement a fully automated One-Stop Service (OSS) center and introduce Knowledge Management Portal – KMP at OIBN to provide convenient and fast service to investors were also discussed at the meeting.
Presiding over the meeting the Right Honorable Prime Minister Mr. Oli stressed the need to apply new technology to avoid delay in implementation of the project stating that COVID-19 taught a new lesson to all. Mr. Oli also emphasized making joint efforts among relevant agencies for formulating plans on the generation and consumption of energy within the country.
On the occasion, OIBN’s CEO Mr. Sushil Bhatta presented updates on the implementation of IBN projects and highlighted the recent activities being carried out by OIBN. Similarly, the meeting welcomed the newly appointed Honorable Minister for Finance Mr. Bishnu Poudel and CEO of OIBN Mr. Bhatta as IBN Vice-chair and member secretary of IBN, respectively.
Other dignitaries present on the occasion were Honorable Minister for Industry, Commerce and Supply Mr. Lekha Raj Bhatta, Honorable Minister for Energy, Water Resources and Irrigation Mr. Barsha Man Pun, Honorable Minister for Forest and Environment Mr. Shakti Bahadur Basnet, Honorable Vice-chair of National Planning Commission Dr. Pushpa Raj Kandel, Governor of Nepal Rastra Bank Mr. Maha Prasad Adhikari, representatives from the private sector in IBN (Ms. Bhawani Rana, Mr. Hari Bhakta Sharma, Mr. Rajesh Kaji Shrestha, Mr. Bal Krishna Siwakoti), secretaries of relevant ministries and other high ranking officials of Government of Nepal. ♦