Investment of Rs 108.69 bn proposed to set up 102 firms in around five months of 2022/23

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KATHMANDU: Investors pledged to inject Rs 108.69 billion to set up 102 firms in the first five months of the current fiscal year.

The statistics maintained by the Department of Industry (DoI) shows that the aforementioned amount of investment was committed by both domestic and foreign investors. The registered number, however, declined from 133 to 102 firms in the review period.

During mid-July and the first week of December, the DoI registered 31 big production plants pledged with an investment of Rs 88.25 billion. Similarly, 38 small firms for an investment of Rs 5.07 billion and 33 medium firms for capital injection of Rs 15.36 billion were registered at the department.

According to the private sector, there was a dramatic fall in the registration of big firms in the past few months because of the shortage of loanable funds with the banks and the exorbitant interest rates they charge.

The pledged investment amount in big production plants each ranges from Rs 600 million to Rs 16.50 billion. Most of them were related to hydropower projects.

Out of the registered 31 big firms, 23 are hydroelectricity projects, which were proposed with investments of Rs 76.49 billion in total. Of the remaining, six are hotels and two are in the manufacturing segment.

According to the DoI, six hydropower projects have been pledged with the investment of more than Rs 5 billion. Investors proposed to inject Rs 16.45 billion, the largest among all, to set up Tamakoshi Jalvidyut Company.

Likewise, an investment of Rs 5.96 billion was proposed for Carbonless Energy Fund Pvt Ltd and Rs 5.91 billion has been committed to invest in Dynamic Hydro Energy Pvt Ltd.

Fiscal Nepal |
Monday December 12, 2022, 05:10:43 PM |

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