Investment Board approves FDI worth over Rs 38 billion

Kathmandu - The Investment Board has approved foreign direct investment worth Rs 38.68 billion for the three mega hydro power projects (hydel). The 45th meeting of the board on Tuesday that was chaired by the Board’s chair and Prime Minister KP Sharma Oli approved the foreign investment for the hydel projects to be constructed as per the public private partnership.

For the 77.5 megawatt-Ghunsa Hydel, Rs 17.63 billion has been accepted, informed Board’s spokesperson Dharmendra Kumar Mishra. Likewise, Rs 10.61 billion has been approved for 57 megawatt Himchuli Dordi Hydel and Rs 10.43 billion for 65-megawatt- Dudhkhola Hydel. During the meeting, the attendants had discussed capacity enhancement of the Board and formulating the Board’s strategy in consultations with various stakeholders.

The meeting also dwelt on making the ‘One-stop Service Centre’ autonomous to facilitate the investors and setting up the ‘Knowledge Management Portal’ and optimizing it, according to Mishra. Board Chair and PM Oli underscored the need to leverage ICT to tide over the impediment and delays in the mega project occurring due to COVID-19 pandemic. Board’s CEO Sushil Bhatta on the occasion had briefed the attendants in the meeting about the implementation status of the projects facilitated and promoted by the Board. This is the first ever meeting held since Bhatta took up the Board’s meeting as its CEO.