FDI worth Rs 200 million USD accepted

Kathmandu, July 18 : The government has decided to accept foreign investment worth 200 million US dollars for the Dolma Fund Management for solar energy production and management project in the country.
The 31st meeting of the Investment Board Nepal held under the chairmanship of Chairperson of IBN and Prime Minister KP Sharma Oli late night on Tuesday took the decision in this regard.
The meeting also passed the Project Development Agreement prepared by the Board after holding discussion with the developer company, NepWest Company Pvt. Ltd for the implementation of first ‘package ‘ under the Kathmandu Valley’s Integrated Solid Waste Management Project.

According to the board, Kathmandu Metropolitan City, Dakshinkali, Chandragiri, Nagarjun, Tarkeshwor, Tokha, Budhanilkantha, Gokarneshwor, Kageshwor-Manahara and Shankharapur municipalities are incorporated in the package.
Similarly, the Board also directed the Office of the Investment Board Nepal to hold discussion with China Three Gorges International Cooperation coordinating with Finance, Energy and Irrigation ministries for the implementation of West Seti Hydropower Project soon and to reach to a conclusion within two months.
The meeting also decided to form a taskforce comprising representatives of concerned bodies under the coordination of the Secretary at the Office of the Prime Minister and Council of Ministers to review the amendment proposal prepared by the Board to update the IBN Act-2068.