Authorization to issue license for Lower Arun Hydropower Project

Kathmandu, Aug 30: The 66th meeting of Investment Board Nepal has approved the draft of the project license for the 669 MW-capacity Lower Arun Hydropower Project and decided to authorize the Chief Executive Officer of IBN to issue the license for the project.

The meeting held on Friday under the chairmanship of Prime Minister KP Sharma Oli took the decision, shared Pradyumna Prasad Upadhyay, spokesperson of IBN office.

The draft related to direct investment in the Arun-3 Hydropower Project under construction in Sankhuwasabha was approved and a decision made to recommend submitting the proposal to the Council of Ministers for necessary decision.

Similarly, the IBN has decided to authorize its Chief Executive Officer to issue a survey license for reaching an agreement with the company that has proposed the 'Auto Service Eco-Industrial Park' project. The project proposal was received as an unsolicited proposal at the IBN office. (RSS)