Kathmandu: The 60th meeting of the Investment Board, chaired by Prime Minister KP Sharma Oli, approved investments for several hydropower projects, including the Budhigandaki Hydropower Project. The meeting, held at Singha Durbar, granted approval for a budget of NPR 70 billion for the 341 MW Budhigandaki Hydropower Project.
Similarly, the board approved NPR 23.59 billion for the 106 MW Jagdulla Semi-Reservoir Hydropower Project and NPR 47.54 billion for the 210 MW Chainpur Seti Project.
Additionally, the meeting extended the deadlines for the 327 MW Upper Marsyangdi project and Samrat Cement Company Pvt. Ltd. It also decided to increase the capacity of the West Seti Hydropower Project from 750 MW to 800 MW, amend the license for the designated project area, and approve changes in shares and agreement terms for the Upper Karnali Hydropower Project.
Prime Minister Oli emphasized the importance of coordinated efforts by relevant agencies to create a conducive investment environment and expedite the nation’s journey toward prosperity. He urged stakeholders to work proactively within the framework of existing laws to promote development and growth.
During the meeting, the Chief Executive Officer of the Investment Board, Sushil Gyawali, provided an update on the strategic and business plans drafted following the board’s previous decision on October 9. He stated that discussions with stakeholders are underway to finalize the plans.
