Investment Board approves investment worth Rs. 38.65 billion

Kathmandu: The Investment Board (IBN) has approved investment of Rs. 38.65 billion for three projects.

The 45th meeting of the board chaired by Prime Minister KP Sharma Oli, who is also the chairman of the board, approved an investment of Rs 38.65 billion for three hydropower projects.

Chief Executive Officer of the Board Sushil Bhatta said that Rs. 17.62 billion has been allocated for the 77.5 MW Ghunsakhola Hydropower Project, Rs. An investment of Rs 10.43 billion has been approved for the project.

The meeting also decided to extend the term of the Compensation Study Committee set up for the 900 MW Arun III project from the powerhouse to the damside, which is a public-private partnership, Bhatta said. The meeting also discussed about the strategic plan of the board in consultation with the project bank and various stakeholders for capacity building and institutional development of the board.

Discussions were also held on automating the one-stop service center to provide easy and fast service to investors and setting up a knowledge management portal, Bhatta said. Addressing the meeting, Prime Minister Oli also instructed the board to prepare a power consumption plan along with power generation, Bhatta said.

Apart from this, the meeting also discussed about the implementation status of the projects promoted and facilitated by the board and the activities of the board.

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