IBN approves Rs 85 billion investment for three hydels

Kathmandu, December 29

The government today approved foreign investment worth almost Rs 85 billion for three hydropower projects.

The 42nd meeting of Investment Board Nepal that took place today under leadership of Prime Minister KP Sharma Oli has approved foreign direct investment worth aforementioned amount for 216-megawatt Upper Trishuli 1, 50MW Marshyangdi Besi and 37MW Upper Trishuli-3B.

While the IBN has approved Rs 65 billion investment for Upper Trishuli 1, Rs 11.77 billion has been approved for Marshyangdi Besi and Rs 8.22 billion for Upper Trishuli-3B.

The meeting has also extended the term of compensation dispute committee of the 900MW Arun-III hydropower project that is looking into various issues and asked it to resolve them within two months.