Nepal | March 28, 2020

IBN receives EoIs for 31 projects worth $25.3bn

Himalayan News Service

Kathmandu, April 21

Of the 77 projects that the government had showcased at the country’s flagship Nepal Investment Summit held last month, investors have submitted expression of interest (EoI) for 31 different projects amounting to $25.3 billion till Saturday, according to the Investment Board Nepal (IBN).

As IBN has extended the deadline for potential investors to submit their applications for projects showcased at the summit till May 20, officials of the board informed that investors are expected to submit some more EoIs for different projects that were showcased at the event.

Among others, investors are seen keen towards projects related to transport infrastructure as IBN has received 22 EoIs for nine transport infrastructure projects.

These projects include BRT on Nijgadh International Airport (six EoIs), Outer Ring Road (four EoIs), BRT on Ring Road of Kathmandu (four EoIs), Kathmandu Valley Metro Rail, East-West Electrified Rail, Kathmandu-Pokhara-Lumbini Railways, Kathmandu Sky Train, Samakhusi-Tokha-Chhahare Road (two EoIs) and Dhangadi Regional International Airport (two EoIs).

Similarly, IBN has also received seven EoIs for five agriculture infrastructure projects, namely Integrated Agri Projects in Urlabari, Hemja, Banepa, Biratnagar and Tillottama.

While IBN has received eight EoIs for seven energy infrastructure projects, it has received five EoIs for four projects related to urban infrastructure. Likewise, the government has received EoIs for tourism, industry, health and education infrastructure projects.

Maha Prasad Adhikari, chief executive officer of IBN, informed that the board plans to award 27 projects to competitive investors within August 20. Similarly, IBN has said that it will award other mega projects to potential developers within August 20 next year.

“IBN will minutely study all EoIs and finalise the construction modality of different projects soon by hiring advisers, if necessary,” informed Adhikari, adding that the board will facilitate each EoI and investor through all means.

The IBN board has also formed a high-level committee to evaluate and monitor different proposals and letters of intent submitted by investors for projects that were showcased at the investment summit. The committee is led by Sishir Dhungana, secretary at the Office of the Prime Minister and Council of Ministers and comprises joint secretaries from the Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, Ministry of Industry, Commerce and Supplies and IBN.

A version of this article appears in print on April 22, 2019 of The Himalayan Times.

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