KATHMANDU, JUNE 5
The 64th meeting of the Investment Board Nepal (IBN), chaired by Prime Minister KP Sharma Oli at Baluwatar today, approved key infrastructure and energy projects, including the Muktinath Cablecar.
The board approved an investment proposal from Muktinath Darshan Pvt Ltd to construct an 81.04-km cablecar from Seraphant (Birethanti/Nayapul) to Muktinath in Mustang. Estimated to cost Rs 57.64 billion, the project will follow the build-own-operate-transfer (BOOT) model and feature seven stations along the route.
A committee led by IBN CEO Sushil Gyawali has been formed to negotiate the project development agreement. The cablecar is expected to boost tourism and local employment.
The meeting also decided to seek Cabinet approval for a draft agreement with Korea Rail to explore cooperation in Nepal's railway sector. Additionally, IBN will further study the detailed project report of the 750 MW West Seti reservoir project, with an estimated investment of Rs 160 billion.
The board approved investments in three hydropower projects: the 43.2 MW Chilung Khola, 216 MW Bajhang Upper Seti, and 44 MW Bokan Khola.
Proposals for a refined edible oil industry in Janakpur and IT parks at various locations will also be moved forward.