Government committed to create investment climate: PM
KATHMANDU: FEB. 9 – The Investment Board of Nepal (IBN) has decided to permit the Central Electronics Limited (CEL) of India to conduct the feasibility study for 350 Megawatt solar energy projects in Doti and Dadeldhura districts in Sudurpaschim State.
A meeting of the IBN chaired by Prime Minister Sher Bahadur Deuba on Tuesday approved the feasibility study of the project with an estimated cost of Rs. 23 billion. The CEL is an Indian government-owned enterprise under the Ministry of Science and Technology.
The project will be developed in Silgadhi Municipality of Doti and Amargadhi Municipality of Dadheldhura districts by installing about 125 MW and 225 MW solar energy fields, said the IBN.
According to Ramesh Adhikari, Deputy Spokesperson for the IBN, the approval is the first step to the project development and a timeline for the study would be set while signing a Memorandum of Understanding with the CEL later. It is expected that the feasibility study would be completed in 12-15 months.
Likewise, the meeting approved Rs. 9.68 billion investment to be made by Dabur Nepal Pvt. Ltd., an Indian investment enterprise running a manufacturing business in the herbs and medicine sector in Nepal, for its capacity enhancement and product diversification.
It also approved the inception report of the SJVN Limited India for the development of the Lower Arun Hydroelectricity Project in the BOOT (Build, Own, Operate and Transfer) model.
SJVN India is the company selected for the development of the project in this modality, said the IBN, a one-door agency established to attract and facilitate foreign and domestic investments in large projects.
The meeting also allowed the IBN to be a member of the Geneva-based World Association of PPP Units and Professionals (WAPPP) and decided to publish the comparative study report for the establishment of a chemical fertiliser plant. It was prepared by the IBN itself.
Speaking at the meeting, PM Deuba, who is the Chairman of the board, said that the government was committed to making policy and legal reforms and creating an investment-friendly environment to attract investors in various projects in Nepal.
He directed the Office of the IBN and other bodies concerned with development to expedite the works related to a feasibility study by diversifying the infrastructure and giving emphasis on the development of the projects.
Chief Executive Officer of the board Sushil Bhatta said that the IBN was focused on project implementation, facilitating investment and institutional reforms.
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