Investment commitment of Rs. 152 billion in 46 projects in Koshi

By Our Correspondent,Biratnagar, May 4:: Investment commitments have been made for 46 projects at the Koshi Province Investment Summit organised by the provincial government. 

A memorandum of understanding was signed between the government and investors on Friday evening.

It was informed at the closing ceremony of the investment conference that an investment commitment of Rs. 152 billion has been made by investors with Koshi Province Investment Authority for the 46 projects.

A memorandum of understanding was signed and handed over by the Executive Director of the Koshi Province Investment Authority, Dr. Saroj Koirala, and the investors at the closing ceremony of the summit on Friday evening.

At the investment summit, investors have expressed their commitment to invest in projects ranging from manufacturing alcohol from millet to commercial agricultural farms, agro-based industries, turmeric processing, chhurpi production, coffee production, organic fertiliser production to agro-tourism and tourism to the development of the Barjutal tourist area.

At the investment summit, investor KP Sitaula was the first to sign an agreement to operate the Deumai Coffee Farming Project with an investment of Rs. 220 million.

Similarly, Keshab Ghimire, the operator of the Turmeric Production and Processing Centre, Baraha area, has signed an agreement to operate a turmeric production and processing project with an investment of Rs. 190 million, Giriraj Basnet has signed an agreement to operate a Greenyard Agro Farm with an investment of Rs. 450 million, and Kusum Dahal of Ilam has signed an agreement to operate an Advancing Nepalese Tea and Coffee Project with an investment of Rs. 800 million.

Likewise, Netra Prasad Bhandari has signed an investment commitment to operate a Chhurpi Project with an investment of Rs. 180 million, Rajan Sharma has signed an investment commitment agreement to operate a Citrus Fruit Farming and Agro Tourism with an investment of Rs. 270 million, Vishnu Agrawal has made an investment agreement to operate a Kiwi Farming and Processing Industry in Dhankuta, and Dhankuta Avocado Farming and Processing Industry with an investment of Rs. 640 million.

Industrialist of Biratnagar Pawan Kumar Sarda has signed an agreement to operate the Pashupati Energy Project in Sunsari with an investment of Rs. 1.6 billion, Rajendra Shrestha has signed an agreement to operate the Agrivoltaic Solar Project in Udayapur with an investment of Rs. 5.6 billion, and Rajan Niraula has signed an agreement to invest Rs. 142 million from Panchkhapan Hydropower Company. 

Similarly, Shambhubabu Koirala has committed to invest Rs. 20 million in President Agrotech, Anantaram Khatiwada has committed to invest Rs. 27 million in Shivashakti Biotech Morang, and Uday Baral has committed to invest Rs. 1.16 billion in Herbal Processing Plant Project in Morang.

As a new project, the alcohol from millet project has signed an investment agreement with the provincial government at the investment summit. 

Although necessary laws have not been enacted to produce millet alcohol, the government has signed an agreement to invest Rs. 400 million with Janak Rai of Solukhumbu Tilicho Peak Food and Drink Pvt. Ltd. to brand it and move forward with production.

The Koshi provincial government had put 74 projects on display at the investment summit. The government has said that investment commitments have been made in 46 of these projects.