Investment Board Nepal Approves NPR 93.40 Billion for 439 MW Betan Karnali Semi-Reservoir Hydropower Project

Kathmandu.
The Investment Board Nepal (IBN) has approved an investment of NPR 93.40 billion for the development of the 439 MW Betan Karnali Semi-Reservoir Hydropower Project. The decision was made during the Board’s 67th meeting, which also endorsed the formation of a negotiation committee to proceed with the Project Development Agreement (PDA).

The meeting, chaired by Prime Minister Sushila Karki, reviewed the progress report of fiscal year 2081/82 and approved the Board’s Annual Work Plan for FY 2082/83.

Lower Arun (669 MW) Generation License Approved

During the meeting, the Board approved the draft of the Generation License for the 669 MW Lower Arun Hydropower Project, authorizing the Chief Executive Officer of the Investment Board Office to issue the official license.

Decisions on Arun–3 and West Seti Projects

The Board also made major decisions regarding other large hydropower projects:

• The draft Direct Agreement of the 900 MW Arun–3 Hydropower Project will be submitted to the Council of Ministers for approval.

• The survey license of the 800 MW West Seti Reservoir Hydropower Project will be extended.

Eco-Industrial Park Project Receives Survey Permission

The meeting further approved survey permission for the proposed Auto Service Eco-Industrial Park Project (estimated cost: NPR 16 billion).
According to the Board, the proposal was submitted independently despite not being invited by the Hong Kong–based Blazepic Global Group Limited.

The decision grants authority to the Board’s CEO to sign an MoU for preparing the Detailed Project Report (DPR) and to issue the necessary survey license.

High-Level Officials Present

The meeting was attended by key government officials including:

• Finance Minister Rameshwor Khanal

• Minister for Energy, Water Resources and Irrigation Kulman Ghising

• Minister for Industry, Commerce and Supplies Anil Kumar Sinha

• Chief Secretary Ek Narayan Aryal

• Nepal Rastra Bank Governor Bishwanath Poudel

• and other senior representatives.