Wednesday Apr 24, 2024
Wednesday Apr 24, 2024

IBN approves Rs 73b budget for two hydropower projects

2021 Oct 09, 17:50, Kathmandu
This image shows the office of Inestment Board Nepal at Birendra International Convention Center (BICC) in February 2020. Photo courtesy: Ameya Nigam

The Investment Board Nepal (IBN) has approved investments worth approximately Rs 73 billion for the construction and development of two hydropower projects.

The 48th meeting of the IBN presided over by its chairperson and Prime Minister Sher Bahadur Deuba today took the decision to this effect. As per the investment approval, the 56-megawatt Jumkhola hydropower project based in Dolakha district will attract investment of around Rs 10.5 billion while the 900-megawatt Arun III hydropower project based in Sankhuwasabha district will receive an investment of Rs 62.26 billion.

Likewise, the meeting has decided to form a high-level study committee under the coordination of the IBN vice-chairperson for the committee to submit a report relating to the 900-megawatt Upper Karnali hydropower project to the IBN within 45 days.

The committee comprises representatives from the Ministries of Finance, Energy, Water Resources and Irrigation and Law, Justice and Parliamentary Affairs, the IBN chief executive officer, and an expert. IBN joint secretary is the member secretary of the committee as informed.

Similarly, it was decided to approve the annual budget and programmes of the IBN for the fiscal year, 2021/22, and approve the share purchase and sale agreement of Samrat Cement and the Upper Trishuli-1 hydropower project.

On the occasion, PM Deuba directed all concerned sectors to make a long-term plan relating to electricity consumption increment and create an environment conducive for investment.

IBN chief executive officer Sushil Bhatta apprised the event of the progress of projects launched by the IBN and its progress and activities.

Present on the occasion were Finance Minister and IBN Vice-Chairperson Janardan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Gajendra Bahadur Hamal, Minister for Forest and Environment Ram Sahaya Prasad Yadav, National Planning Commission Vice Chairperson Bishwonath Poudel, Chief Secretary Shankar Das Bairagi, IBN members Hari Bhakta Sharma, Bhawani Rana and Rajesh Kaji Shrestha and high ranking government and officials.


Investment Board Nepal IBN Sher Bahadur Deuba Hydropower projects Jumkhola Arun III Karnali Hydropower Upper Trishuli Samrat Cement Pampha Bhusal National Planning Commission Janardhan Sharma Electricity Consumption
Nepal's First Online News Portal
Published by Nepalnews Pvt Ltd
Editor: Raju Silwal
Information Department Registration No. 1505 / 076-77


KMC-02, UttarDhoka,
Lazimpat, Nepal

+977–01–4445751 / 4445754

[email protected] [email protected]

Terms of Use Disclaimer
© NepalNews. 2021 All rights reserved. | Nepal's First News Portal