Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The 67th meeting of the Investment Board Nepal (IBN), formed under Section 5 of the Public-Private Partnership and Investment Act, 2075, was held on Tuesday at the Office of the Prime Minister and Council of Ministers under the chairmanship of Prime Minister and IBN Chair Sushila Karki.
The meeting approved investment for the 439 MW Betan Karnali Semi-Reservoir Hydropower Project, which carries an estimated cost of NPR 93.40 billion, and decided to form a negotiation committee to prepare the Project Development Agreement.
The Board also reviewed the progress report of fiscal year 2081/82 and endorsed the annual work plan for FY 2082/83.
IBN approved the draft generation license for the 669 MW Lower Arun Hydropower Project and authorized the Board’s Chief Executive Officer to issue the final license.
Similarly, the meeting endorsed submitting the draft Direct Agreement for the 900 MW Arun-3 Hydropower Project to the Council of Ministers for approval. It also decided to extend the survey license of the 800 MW West Seti Reservoir Hydropower Project.
The Board further authorized its CEO to issue a survey license for the preparation of a detailed project report for the Rs 16 billion Auto Service Eco-Industrial Park Project, an unsolicited proposal submitted by Blazepic Global Group Ltd., Hong Kong.
The meeting also approved temporary staffing positions for IBN for FY 2082/83 and decided to submit the draft amendment of the PPP and Investment Regulation, 2077 to the Council of Ministers for approval.
The session was attended by Finance Minister and Board Vice Chair Rameshwar Prasad Khanal, Energy Minister Kulman Ghising, Industry Minister Anil Kumar Sinha, Chief Secretary Ekanarayan Aryal, Nepal Rastra Bank Governor Dr. Bishwanath Paudel, PMO Secretary Rajkumar Shrestha, and senior government officials.
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