Kathmandu: The 66th meeting of Investment Board Nepal (IBN) has officially approved the draft of the project license for the 669 MW Lower Arun Hydropower Project. This pivotal decision authorizes the Chief Executive Officer of IBN to issue the necessary license for the project’s commencement.
According to National News Agency Nepal, the meeting, which took place on Friday under the leadership of Prime Minister KP Sharma Oli, was pivotal in advancing the hydropower sector. Pradyumna Prasad Upadhyay, spokesperson for the IBN office, shared details of the meeting, emphasizing the significant decision to recommend the proposal’s submission to the Council of Ministers for further action. This includes the draft concerning direct investment in the ongoing Arun-3 Hydropower Project located in Sankhuwasabha.
Additionally, the IBN has empowered its Chief Executive Officer to grant a survey license for the proposed ‘Auto Service Eco-Industrial Park’ project. This project was presented to the IBN office as an unsolicited proposal, highlighting a move towards expanding industrial infrastructure.