The Investment Board Nepal (IBN) claimed that it has completed the pre-qualification process of 14 projects worth Rs 1.18 trillion, out of the 50 projects that the investors showed interest during the Investment Summit 2019 held last March.
The board has already selected the company to conduct detailed feasibility study (DFS) of 756-megawatt (MW) Tamor Hydropower Project, IBN’s chief executive officer Maha Prasad Adhikari informed at a press meet orgainsed by the board today.
Likewise, the board has signed the initial investment agreement with Korean company Motrex to set up a vehicle manufacturing and assembly plant project worth Rs 10.54 billion, he said, adding that of the 77 projects that the government had showcased at the Nepal Investment Summit held in March, investors had submitted expression of interest (EoI) for 31 different projects amounting to more than $25.3 billion. “The board is continuously signing agreements with investors, who had expressed their interest in projects showcased at the investment summit.”
The board has also signed an agreement with a foreign firm to develop the Rs 64.6 billion worth Nepal-China Friendship Park Project in Province 1. “Similarly, the board has inked an agreement with two separate companies to conduct the DFS for developing the Rs 13 billion worth Multi-Model Logistic Parks in Biratnagar, Birgunj and Bhairahawa,” he said, adding that the board – as of today – is in the phase of implementing nine different projects worth Rs 565 billion. “Of this, development of Arun-III hydroelectric project is ongoing, while Hongshi Cement will soon start the second phase of production.”
These projects also include Kathmandu Outer Ring Road Project with a proposed cost of $1.87 billion, Lower Arun Hydro Power Project ($1.3 billion) and Nijgadh International Airport ($3.45 billion). Likewise, the applications for remaining 16 projects were not qualified during the evaluation process. “Similarly, the screening report has been prepared for Kathmandu Sky Train Project ($310 million) and Integrated National Agriculture Infrastructure ($70 million).”
Out of the total applications, the board disqualified 16 proposals and 20 did not receive any applications,” he said, adding that those projects which did not draw any eligible applicants will be still in the 'project list' of the board.
Adhikari, on the occasion, also sought government’s support in addressing few difficult legal processes that has been creating hassles in approving projects in a timely manner.
The board has already selected the company to conduct detailed feasibility study (DFS) of 756-megawatt (MW) Tamor Hydropower Project, IBN’s chief executive officer Maha Prasad Adhikari informed at a press meet orgainsed by the board today.
Likewise, the board has signed the initial investment agreement with Korean company Motrex to set up a vehicle manufacturing and assembly plant project worth Rs 10.54 billion, he said, adding that of the 77 projects that the government had showcased at the Nepal Investment Summit held in March, investors had submitted expression of interest (EoI) for 31 different projects amounting to more than $25.3 billion. “The board is continuously signing agreements with investors, who had expressed their interest in projects showcased at the investment summit.”
The board has also signed an agreement with a foreign firm to develop the Rs 64.6 billion worth Nepal-China Friendship Park Project in Province 1. “Similarly, the board has inked an agreement with two separate companies to conduct the DFS for developing the Rs 13 billion worth Multi-Model Logistic Parks in Biratnagar, Birgunj and Bhairahawa,” he said, adding that the board – as of today – is in the phase of implementing nine different projects worth Rs 565 billion. “Of this, development of Arun-III hydroelectric project is ongoing, while Hongshi Cement will soon start the second phase of production.”
These projects also include Kathmandu Outer Ring Road Project with a proposed cost of $1.87 billion, Lower Arun Hydro Power Project ($1.3 billion) and Nijgadh International Airport ($3.45 billion). Likewise, the applications for remaining 16 projects were not qualified during the evaluation process. “Similarly, the screening report has been prepared for Kathmandu Sky Train Project ($310 million) and Integrated National Agriculture Infrastructure ($70 million).”
Out of the total applications, the board disqualified 16 proposals and 20 did not receive any applications,” he said, adding that those projects which did not draw any eligible applicants will be still in the 'project list' of the board.
Adhikari, on the occasion, also sought government’s support in addressing few difficult legal processes that has been creating hassles in approving projects in a timely manner.
No comments:
Post a Comment