First Business News Portal in English from Nepal
KATHMANDU: Office of the Investment Board Nepal (OIBN) has approved investments worth approximately Rs 73 billion for the construction and development of two hydropower projects.
The 48th meeting of the Investment Board of Nepal presided over by its chairperson and Prime Minister Sher Bahadur Deuba on Saturday approved the investment amount.
As per the investment approval, the Dolakha based 56-megawatt Jumkhola hydropower project will attract investment of around 10.5 billion rupees while Sankhauwasabha based 900-megawatt Arun III hydropower project will receive an investment of 62.26 billion rupees.
Likewise, the meeting has decided to form a high-level study committee under the coordination of the Investment Board Vice-Chairperson, for the committee to submit a report relating to the 900-megawatt Upper Karnali hydropower project.
On the occasion, Prime Minister Deuba directed all concerned sectors to make a long-term plan relating to electricity consumption increment and create an environment conducive for investment.
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