SATV, Nov. 21: The Investment Board Nepal (IBN) has approved investment for the Betan Karnali Semi-Reservoir Hydropower Project (439 MW) to be developed at an estimated cost of Rs. 93.40 billion. 

The meeting held at the Prime Minister's Office (PMO) on Wednesday also decided to form a negotiation committee for the Project Development Agreement (PDA) for the Betan Karnali.

The IBN informed in a statement that the meeting, chaired by Prime Minister and Chairperson of the Board Sushila Karki, also approved the draft generation licence for the Lower Arun Hydropower Project (669 MW) and authorised the CEO of the Investment Board Office to issue the licence.

Similarly, the meeting decided to submit a proposal to the Cabinet seeking approval of the draft of Direct Agreement for the Arun-III Hydropower Project (900 MW), and to extend the survey licence for the West Seti Reservoir Hydropower Project (800 MW).

The Board further decided to authorise the CEO to sign an MoU for the preparation of the Detailed Project Report (DPR) and to issue a survey licence for the Auto Service Eco-Industrial Park Project (estimated cost of Rs. 16 billion). It was submitted as an unsolicited proposal by Blazepic Global Group Ltd., Hong Kong.

Likewise, the meeting approved temporary staffing positions of various services, groups and categories required for the Investment Board Office in the current Fiscal Year 2025/26, and decided to submit the draft amendment to the Public-Private Partnership and Investment Regulations, 2020, to the Cabinet for approval.

The meeting was attended by Finance Minister and Vice-Chair of the Board, Rameshore Prasad Khanal, Minister for of Energy, and Minister for Infrastructure Kul Man Ghising, Minister for Industry Anil Kumar Sinha, Chief Secretary Eak Narayan Aryal, Governor of Nepal Rastra Bank Dr. Bishwo Nath Poudel, Secretary of the PMO Raj Kumar Shrestha, and other senior officials.