Investment Board Approves Rs 185 Billion Foreign Investment
June 20, 2020 | Investopaper
The Investment Board has approved foreign investment of Rs 185 billion for various projects including five hydropower projects. A board meeting held at the PM’s residence in Baluwatar on Friday approved an investment of Rs 185.43 billion. The board meeting has approved the investment for five hydropower projects and two cement industries.
The meeting of the board has approved the investment of Rs 78.65 billion for the 327 MW Upper Marsyangdi Hydropower Project. Likewise, it has provided approval of Rs 10.31 billion for the 57 MW Myagdikhola Project, Rs 13.57 billion for the 97 MW Isuwakhola Project and Rs 28.06 billion for the 164 MW Kaligandaki Gorj Hydropower Project.
The board meeting has also decided to issue survey license for 125 MW solar energy project with 20 MW storage in Banke and Kapilvastu. In addition, survey licenses have been issued to JV PTE Limited, including Rising Energy of Singapore, for both the projects to be constructed separately.
Similalry, the board has also approved the investment of Rs 32.50 billion for Dang Cement Industries and Rs. 15.05 billion for Samrat Cement Industries. The meeting decided to extend the deadline for submission of detailed study report of Nepal-China Friendly Industrial Park Damak, Muktinath Cable Car, Multimodal Logistics Park and Private Freight Terminal and Bulk Handling Facility project due to the situation created due to COVID-19.
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