IBN Approves Rs 8.84 Billion Investment for 54 MW Lower Apsuwa Hydropower Project

The Investment Board Nepal (IBN) has approved an investment of Rs 8.84 billion for the development of the 54 MW Lower Apsuwa Hydropower Project.

The decision was made at the 65th meeting of the board, chaired by Prime Minister KP Sharma Oli, on Friday, August 22.

In the meeting, IBN also formed a negotiation committee led by its Chief Executive Officer to hold talks with the developer of the 800 MW West Seti Hydropower Project. The committee will review the draft project development agreement, financial structure, and other key aspects before presenting a final proposal to the board.

The meeting further authorised the CEO to issue survey licences and obtain detailed feasibility reports for the Panauti Special Economic Zone Development and Operation Project and the Kathmandu-Hetauda-Birgunj Podway Project, both submitted as unsolicited proposals.

Additionally, Karnali Transmission Company Pvt Ltd, the promoter of the 900 MW Upper Karnali Hydropower Project, has been allowed to conduct feasibility and environmental studies for a new transmission line route alignment.

Deputy Prime Minister and Finance Minister Bishnu Paudel, the board’s Vice-Chairperson, along with other senior officials including the Minister for Physical Infrastructure and Transport, the National Planning Commission Vice-Chairperson, the Chief Secretary, and the Nepal Rastra Bank Governor, attended the meeting.