Investment Board Approves Investment in Two Semi-Reservoir Hydropower Projects
The 68th meeting of the Investment Board, chaired by Prime Minister Balendra Shah, approved investment in the Nar Khola (58.9 MW) and Sani Bheri-3 (46.72 MW) semi-reservoir hydropower projects. The meeting also decided to prioritize the implementation of the Arun-3 and Upper Karnali projects and infrastructure projects based on the latest information technology.
Kathmandu. The 68th meeting of the Investment Board, chaired by Prime Minister Balendra Shah, held today, decided to approve investment in two semi-reservoir hydropower projects.
The meeting decided to approve investment in the Nar Khola Semi-Reservoir Hydropower Project (58.9 MW) with a cost of Rs 10 billion 750 million 497 thousand and the Sani Bheri-3 Semi-Reservoir Hydropower Project (46.72 MW) with a cost of Rs 10 billion 423 million 362 thousand.
Similarly, the meeting also decided to facilitate the Arun-3 Hydropower Project (900 MW) to commence commercial production by February 2028, and to immediately proceed with the construction of the Upper Karnali Hydropower Project (900 MW) as per the provisions of the project development agreement.
The meeting decided to delegate necessary authority to the Chief Executive Officer of the Investment Board office to facilitate the implementation of the approved projects and the services provided to investors, and to ensure effective performance.
Likewise, it directed the office to make necessary legal arrangements to proceed with proposals not invited by the Board through the Swiss Challenge method as needed.
Furthermore, if investment proposals for infrastructure projects based on the latest information technology, including artificial intelligence, are received, the meeting decided to prioritize the development of such projects, considering their contribution to the utilization of Nepal's renewable energy, job creation, and economic development.