Investment Board-Nepal (IBN) has received 48 expression of interest (EoI) for 31 different projects amounting to $25.3 billion.
"Of the 77 projects that the government had showcased at the Nepal Investment Summit held last month, investors have submitted 48 EoIs for 31 different projects," informed IBN chief executive officer Maha Prasad Adhikari today.
As the board has extended the deadline for potential investors to submit their EoI for projects showcased at the summit till May 20, the number is expected to increase. "We are expecting more investors to submit EoIs for different projects as we still have time," he informed, adding that the investors have, though, shown keen interest on various projects, Nijgadh International Airport has received the highest number of EoIs.
Investors are interested on projects related to transport infrastructure as the board has received 22 EoIs for nine transport infrastructure projects, including Bus Rapid Transit (BRT) on Nijgadh International Airport (6 EoIs), Outer Ring Road (4 EoIs), BRT on Ring Road of Kathmandu (4 EoIs), Kathmandu Valley Metro Rail, East-West Electrified Rail, Kathmandu-Pokhara-Lumbini Railways, Kathmandu Sky Train, Samakhusi-Tokha-Chhahare Road (2 EoIs) and Dhangadi Regional International Airport (2 EoIs).
Likewise, the board has received seven EoIs for five agriculture infrastructure projects including Integrated Agri Projects in Urlabari, Hemja, Banepa, Biratnagar and Tillottama.
The board has also received eight EoIs for seven energy infrastructure projects, whereas five EoIs for four projects related to urban infrastructure, apart from some EoIs for tourism, industry, health and education infrastructure projects. "Two investment proposals have been received for two projects of education and health infrastructure, while one application has been received for one industry infrastructure project."
The board, however, has not made identity of applicants public. "The identity will be made public after May 20, the deadline of the extension of the applications," the board said.
The government has extended the time for the submission of EoIs as during the two-day Nepal Investment Summit – held on March 29 and 30 – only above a dozen of projects were signed by the domestic private sector and Non Resident Nepalis Association (NRNA).
The board has categorised the EoIs into three categories. Among the applicants, some 27 projects are in the first category. The board plans to select eligible developers for these projects within three months by August 20, according to the board that will select developers for the projects in second category within nine months by February 20, 2020. Developer of these projects will be selected by reviewing their Request for Proposals (RFP). There are 17 projects in the second category. Likewise, projects in the third category are big and are of complex nature. An expert team or transaction advisory services led by secretaries of concerned ministries will look after these six projects in the category, according to the board that plans to select developers for them within 14 months by August 20, 2020.
The board has also formed a high-level committee – led by secretary at the Office of the Prime Minister and Council of Ministers Sishir Dhungana including joint secretaries from the Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, Ministry of Industry, Commerce and Supplies and the board – to evaluate and monitor different proposals and EoIs submitted by investors for projects that were showcased at the investment summit.
"Of the 77 projects that the government had showcased at the Nepal Investment Summit held last month, investors have submitted 48 EoIs for 31 different projects," informed IBN chief executive officer Maha Prasad Adhikari today.
As the board has extended the deadline for potential investors to submit their EoI for projects showcased at the summit till May 20, the number is expected to increase. "We are expecting more investors to submit EoIs for different projects as we still have time," he informed, adding that the investors have, though, shown keen interest on various projects, Nijgadh International Airport has received the highest number of EoIs.
Investors are interested on projects related to transport infrastructure as the board has received 22 EoIs for nine transport infrastructure projects, including Bus Rapid Transit (BRT) on Nijgadh International Airport (6 EoIs), Outer Ring Road (4 EoIs), BRT on Ring Road of Kathmandu (4 EoIs), Kathmandu Valley Metro Rail, East-West Electrified Rail, Kathmandu-Pokhara-Lumbini Railways, Kathmandu Sky Train, Samakhusi-Tokha-Chhahare Road (2 EoIs) and Dhangadi Regional International Airport (2 EoIs).
Likewise, the board has received seven EoIs for five agriculture infrastructure projects including Integrated Agri Projects in Urlabari, Hemja, Banepa, Biratnagar and Tillottama.
The board has also received eight EoIs for seven energy infrastructure projects, whereas five EoIs for four projects related to urban infrastructure, apart from some EoIs for tourism, industry, health and education infrastructure projects. "Two investment proposals have been received for two projects of education and health infrastructure, while one application has been received for one industry infrastructure project."
The board, however, has not made identity of applicants public. "The identity will be made public after May 20, the deadline of the extension of the applications," the board said.
The government has extended the time for the submission of EoIs as during the two-day Nepal Investment Summit – held on March 29 and 30 – only above a dozen of projects were signed by the domestic private sector and Non Resident Nepalis Association (NRNA).
The board has categorised the EoIs into three categories. Among the applicants, some 27 projects are in the first category. The board plans to select eligible developers for these projects within three months by August 20, according to the board that will select developers for the projects in second category within nine months by February 20, 2020. Developer of these projects will be selected by reviewing their Request for Proposals (RFP). There are 17 projects in the second category. Likewise, projects in the third category are big and are of complex nature. An expert team or transaction advisory services led by secretaries of concerned ministries will look after these six projects in the category, according to the board that plans to select developers for them within 14 months by August 20, 2020.
The board has also formed a high-level committee – led by secretary at the Office of the Prime Minister and Council of Ministers Sishir Dhungana including joint secretaries from the Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, Ministry of Industry, Commerce and Supplies and the board – to evaluate and monitor different proposals and EoIs submitted by investors for projects that were showcased at the investment summit.
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