IBN approves Rs. 8.84 bn for Lower Apsuwa Hydel Project

By A Staff Reporter,Kathmandu, Aug. 23: The Investment Board of Nepal (IBN) has approved an investment of Rs. 8.84 billion for the 54-megawatt (MW) Lower Apsuwa Hydropower Project. 

The meeting of the Board on Friday also decided to form a negotiation committee, led by the Chief Executive Officer of the Investment Board, Sushil Gyawali, to hold discussions with the developer of the 800-MW West Seti Hydropower Project regarding the draft of the Project Development Agreement (PDA) and financial structure and to present a proposal to the board.

Similarly, the meeting authorised the CEO of IBN to grant survey permits and request detailed feasibility study reports for the development and operation of the Panchkhal Special Economic Zone and the Kathmandu–Hetauda–Birgunj Podway Project. Proposals of these projects were received as unsolicited proposals – submitted to the IBN without being asked.  

Additionally, the meeting approved consent for the promoter company, Karnali Transmission Company Private Limited (KTCPL), to conduct a feasibility and environmental study for a new route alignment for the transmission line of the 900-MW Upper Karnali Hydropower Project.

The meeting was attended by Deputy Prime Minister and Minister for Finance, as well as Vice-Chairperson of the Board Bishnu Prasad Paudel, Minister for Physical Infrastructure and Transport Devendra Dahal, Vice-Chairperson of the National Planning Commission Prof. Dr. Shivaraj Adhikari, Chief Secretary Ek Narayan Aryal, Governor of Nepal Rastra Bank Dr. Bishwanath Paudel, and Secretary of the Office of the Prime Minister and Council of Ministers Raj Kumar Shrestha, along with other 

high-ranking officials.