Investment Board of Nepal (IBN) has approved an investment of Rs 8.84 billion for the development of the 54 megawatt (MW) Lower Apsuwa Hydropower Project.
A Board meeting held today took the decision to approve the investment, IBN spokesperson Pradhumna Prasad Upadhyay confirmed.
Likewise, the IBN has decided to form a dialogue committee under the leadership of the CEO to table a proposal on project development agreement (PDA), financing modality and other issues regarding the West Seti Hydropower Project.
The meeting chaired by the chairman of the IBN Prime Minister KP Sharma Oli has also entrusted the Board's CEO to submit the feasibility study report of Kathmandu-Hetauda-Birgunj podway project and development and operation of Panchkhal Special Economic Zone (SEZ) as well as provide the survey license for the projects.
The IBN meeting also provided approval to the developer company Karnali Transmission Company for the Environmental Impact Assessment (EIA) and feasibility study of the new route alignment for the development of transmission line for the Upper Karnali Hydropower Project of 900 MW.
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Physical Infrastructure and Transport Minister Devendra Dahal, National Planning Commission (NPC) vice chairman Prof Dr Shivaraj Adhikari, chief secretary Eaknarayan Aryal, central bank governor Dr Bishwo Nath Paudel and other top ranking officials attended the meeting.
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