KATHMANDU, OCTOBER 17

The 56th meeting of the Investment Board Nepal (IBN), chaired by Prime Minister Pushpa Kamal Dahal 'Prachanda', has recommended that the government of Nepal address issues related to the 0-24 km road section of the entrance route to the 100 MW Arun III Hydropower Project in Sankhuwasabha district.

This project, with a 66.3 per cent physical progress, is being developed by SJVN Power Development Company Pvt Ltd at a cost of Rs 144 billion, with 15.46 per cent progress on the transmission line.

During the meeting, IBN Chief Executive Sushil Bhatta provided an overview of the board's activities, the status of the decisions taken by the 55th board meeting, and the agenda for the 56th meeting.

Prime Minister Dahal emphasised the need for agile and coordinated efforts by relevant agencies to ensure the timely completion of the Arun III project, as any delays could negatively impact foreign investors.

Other key attendees included Minister for Energy, Water Resources, and Irrigation Shakti Bahadur Basnet, Minister for Industry, Commerce, and Supply Ramesh Rijal, Minister for Forest and Environment Birendra Prasad Mahato, Chief Secretary Baikunth Aryal, and private sector experts Bhawani Rana, Hari Bhakta Sharma, and Rajesh Kazi Shrestha, along with high-ranking officials from the government of Nepal.

A version of this article appears in the print on October 18, 2023, of The Himalayan Times