IBN to invest big in hydel projects

KATHMANDU, NOVEMBER 29: The 60th meeting of the Investment Board Nepal (IBN) has approved significant investments in various hydropower projects to boost the country’s energy capacity. The meeting, chaired by Prime Minister KP Sharma Oli, was held at Singha Durbar yesterday.  The Board approved for investing Rs 70 billion for the 341-megawatt Budigandaki Hydropower Project, Rs 23.59 billion for the 106-megawatt Jagadulla Semi-Reservoir Hydropower Project, and Rs 47.54 billion for the 210-megawatt Chainpur Seti Project.

The meeting also decided to extend the terms for the 327-megawatt Upper Marsyangdi project and Samrat Company Pvt. Ltd. Furthermore, it was agreed to increase the capacity of the 750-megawatt West Seti Project to 800 megawatts.

Prime Minister Oli highlighted the need for coordination among concerned agencies to create an environment conducive to investment. He also informed attendees that the draft of the Board’s strategic and professional plan has been completed and is currently under discussion with stakeholders.