Letters of intent received fo two projects presented in Investment Summit

KATHMANDU, JULY 4: Letters of intent have been received for two projects that were showcased at the Third Investment Summit held on April 28 and 29. According to Investment Board Nepal's joint-spokesperson Ramesh Adhikari, Soaltee Shivkrim Pvt Ltd, Tahachal, presented a letter of intent for the Janaki Heritage Hotel and Cultural Village, and Gansu-SS Landmark, Blue Bird Mall, Kathmandu, registered a letter of intent for the Babarmahal Administrative Plaza Project.

The estimated cost of the Janaki Heritage Hotel and Cultural Village Project is Rs 2.35 billion. The Investment Board Nepal conducted a study on this project, proposing its construction to develop Janakpurdham as a major tourism destination and to expand the area as an eco-tourism zone.

Similarly, the letter of intent was called through the Investment Summit for the construction of the Babarmahal Administrative Plaza, aimed at housing various government offices. This project covers an area of 30,021 square meters and has an estimated cost of Rs 10.2 billion.

The Board had extended the deadline for the call for letters of intent for 12 various projects under its jurisdiction. The pre-feasibility study of these identified projects has been completed, and initial phase development work has been initiated.

A total of 19 projects were showcased at the Investment Summit to mobilize investment.