IBN approves FDI worth Rs 38 billion in three hydropower projects

KATHMANDU: The 45th board meeting of the Investment Board of Nepal (IBN) on Tuesday approved almost Rs 38 billion foreign direct investment in three hydropower projects of 199.5 megawatt capacity.

The meeting led by Prime Minister KP Sharma Oli approved Rs 17.62 billion FDI in Ghunsakhola Hydropower Project (77.5 megawatt), Rs 10 billion FDI in Himchuli Dordi Hydropower (57 megawatt) and Rs 10 billion FDI in Dudhkhola Hydropower Project (65 megawatt).

At the meeting, IBN chief executive officer Sushil Bhatta gave a presentation on the detailed concept paper of the project bank and projects to be taken forward by attracting foreign private investment in coordination with the investment board.

Addressing the meeting, Prime Minister Oli urged IBN to focus on bringing in quality investment and explore potential investment areas.