Investment Board of Nepal approves investment worth Rs 8.84 billion

Kathmandu, Aug 22: The Investment Board of Nepal has approved an investment of Rs 8.84 billion for the development of the Lower Apsuwa Hydropower Project with a capacity of 54 megawatt.     

A Board meeting held today took this decision, Spokesperson of the Investment Board of Nepal Pradhumna Prasad Upadhyay said.     

Likewise, the Board has decided to form a talk committee under the leadership of the CEO to table a proposal on project development agreement, financing modality and other issues regarding the West Seti Hydropower Project.     

The meeting chaired by the Chairman of the Board and Prime Minister KP Sharma Oli has entrusted the Board's CEO to submit the feasibility study report of Kathmandu-Hetauda-Birgunj podway project and development and operation of Panchkhal Special Economic Zone as well as provide the survey license for the projects.     

Furthermore, the meeting provided approval to the developer company, Karnali Transmission Company, for the environmental impact assessment and feasibility study of the new route alignment for the development of transmission line for the Upper Karnali Hydropower Project of 900 megawatt capacity.     

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Physical Infrastructure and Transport Minister Devendra Dahal, National Planning Commission Vice Chairman Prof Dr Shivaraj Adhikari, Chief Secretary Eaknarayan Aryal, central bank governor Dr Bishwo Nath Paudel and other top ranking officials attended the meeting. (RSS)