Investment Board Nepal Approves Projects Worth Rs 271.26 Billion in FY 2023/24
The Investment Board Nepal (IBN) has approved nine major projects totaling Rs 271.26 billion in the fiscal year 2023/24, as reported in its annual submission to Prime Minister KP Sharma Oli on Thursday. Among these projects, eight are focused on hydropower generation.
The Upper Karnali Hydroelectric Project stands out as the largest investment approved during this period, with a substantial Rs 162.49 billion allocated for a 900 MW capacity project. Following this, the Super Tamor Hydropower Project, set to generate 166 MW of electricity, secured an investment of Rs 34.59 billion.
Additionally, the IBN has sanctioned a 250 MW solar energy project to be established in the Kohalpur and Banganga areas, with an investment of Rs 21.10 billion. Other notable hydropower projects include the 42 MW Upper Modi A Hydroelectric Project (Rs 10.08 billion), the 49.95 MW Dana Khola Hydropower Project (Rs 9.68 billion), and the 44.52 MW Sani Bheri Hydroelectric Project (Rs 9.46 billion).
The Chhujung Khola Hydropower Project, with a capacity of 63 MW, will invest Rs 9.30 billion, while the 22 MW Rolwaling Khola Hydroelectric Project will inject Rs 7.93 billion. The IBN also approved additional investment for Huaxin Cement, which will see Rs 6.63 billion directed towards its production plant.
Formed in 2011, the IBN was initially tasked with managing large-scale projects involving foreign investments exceeding Rs 10 billion and hydropower projects with capacities of 500 MW or more. The scope has since expanded to include projects with fixed capital of Rs 6 billion or more and hydropower projects with a minimum capacity of 200 MW.
In the previous fiscal year (FY 2022/23), the IBN approved five hydropower projects with a combined investment of Rs 167.59 billion, capable of producing a total of 954.3 MW of electricity.
Significant progress was also reported for the Arun III Hydropower Project, which achieved 75 percent completion in generation work and 38.21 percent progress in transmission lines by the end of FY 2023/24. Furthermore, DIAG Industries GmgH, Germany, prepared a preliminary study report for a chemical fertilizer installation, while the developers of the West Seti and Seti River-6 Hydropower Projects submitted their detailed project reports to the IBN.
The IBN has also introduced the Project Monitoring Unit (PMU) Dashboard/Project Monitoring Tool, a digital system aimed at enhancing the efficiency of project monitoring, which has been operational since the last fiscal year.
