Kathmandu, October 9
The Investment Board has approved investment in two semi-reservoir hydropower projects.
The decision was made at the board’s 68th meeting, held today under the chairmanship of Prime Minister Balen Shah.
The meeting approved investment in the 58.9 MW Nar Khola semi-reservoir hydropower project, costing Rs 10.75 billion, and the 46.72 MW Sani Bheri-3 semi-reservoir hydropower project, costing Rs 10.42 billion.
The meeting also decided that the 900 MW Arun-3 hydropower project will begin commercial generation by February 2028, and that the necessary facilitation will be provided to move ahead immediately with construction of the 900 MW Upper Karnali hydropower project, in line with the provisions of its project development agreement.
To facilitate implementation of the approved projects and the services provided to investors, and to ensure effective performance, the meeting decided to delegate the necessary powers to the chief executive officer of the Investment Board Office.
It also decided to direct the office to make the necessary legal arrangements so that proposals not invited by the board can be advanced through competition under the Swiss challenge method, as required.
In addition, the meeting decided that if investment proposals are received for infrastructure projects based on the latest information technologies, including artificial intelligence, priority will be given to developing such projects, taking into account their contribution to using Nepal’s renewable energy, creating jobs and advancing economic development.
