Nepal’s Investment Board is signing first project investment agreement today

Kathmandu, September 3

Nepal’s Investment Board is signing the first project investment agreement today to bring in Rs 36 billion investment from China.

The IPA is being signed with Hongshi Shivam Cements, a joint venture of Nepal’s Shivam Cements and China’s Hong Kong Red Lion.

Board’s spokesperson Uttam Bhakta Wagle says the Chinese company holds 70 per cent shares of the joint venture.

The company aims to produce 12,000 tonnes of cement every day from its factory in Beluwa, Benimanipur of Nawalparasi district.

It has been expected that the production will begin in 2019. Currently, infrastructures are being developed in the company site.

This is the biggest investment in Nepal’s cement industry ever.



Published on September 3rd, Sunday, 2017 4:21 PM

Download Onlinekhabar App. Android click here & IOS click here . Keep in touch with us on Facebook, Twitter & YouTube.

Related News Nepal plans to scrap another hydropower deal with China Investment Board to begin feasibility study for Naagdhunga-Dhulikhel railway China investing Rs 14 billion in Nepal’s cement industry

No Comments

Leave a Reply

Your email address will not be published.


You May Like This