Kathmandu: The Investment Board of Nepal has sanctioned an investment of Rs 8.84 billion for the development of the Lower Apsuwa Hydropower Project, which has a planned capacity of 54 megawatts. This decision was reached during a Board meeting, as confirmed by Pradhumna Prasad Upadhyay, the spokesperson for the Investment Board of Nepal.
According to National News Agency Nepal, the Board also resolved to establish a negotiation committee led by the CEO to present a proposal concerning the project development agreement, financing modalities, and other related issues for the West Seti Hydropower Project. The meeting, presided over by Chairman and Prime Minister KP Sharma Oli, directed the Board’s CEO to submit the feasibility study report for the Kathmandu-Hetauda-Birgunj podway project and the development and operation of the Panchkhal Special Economic Zone. Additionally, the Board granted a survey license for these projects.
Further, the meeting bestowed approval upon the developer, Karnali Transmission Company, to conduct an environmental impact assessment and feasibility study for the new route alignment of the transmission line intended for the 900-megawatt capacity Upper Karnali Hydropower Project.
The meeting saw the participation of several high-ranking officials, including Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Physical Infrastructure and Transport Minister Devendra Dahal, National Planning Commission Vice Chairman Prof Dr. Shivaraj Adhikari, Chief Secretary Eaknarayan Aryal, central bank governor Dr. Bishwo Nath Paudel, among others.