August 27: The Investment Board Nepal (IBN) has given approval for investment worth Rs 36.37 billion for four hydropower projects. The 55th meeting of the IBN chaired by Prime Minister Pushpa Kamal Dahal on Friday, took a decision to this effect.

As per the decision, the board has granted permission to invest in Rolwaling River Hydropower Project (22 MW), Chujung River Hydropower Project (63 MW), Dana River Hydropower Project (49.95 MW) and Sanibheri Hydropower Project (44.52 MW).

Addressing the meeting, PM Dahal urged for coordination among all stakeholders for timely completion of under-construction projects.

He also instructed all stakeholders to expedite the process of approval of investment and implement the projects in a result-oriented way.

The meeting decided to form a negotiation committee under the coordination of the Chief Executive Officer of the IBN to negotiate with the developer regarding the China-Nepal Friendship Industrial Park in Damak and prepare the final draft of the Project Development Agreement (PDA).

Similarly, the meeting decided to issue a permit to Dolma Himalayan Energy to study the prospect of solar energy projects of 245 MW capacity and 20 MW battery capacity in Rajpur Rural Municipality of Dang district.

The IBN has also acknowledged the submission of a detailed feasibility study report by Risen Energy Ltd, the developer of the 250 MW solar energy initiatives in Banke's Kohalpur and Banganga in Kapilvastu.

The IBN has decided to submit a proposal to the Council of Ministers for the execution of the directive issued by the Supreme Court regarding the Upper Karnali Hydropower Project.

In addition, the board meeting approved the draft of MoU with Malaysia-based Rinicola SDN BHD for the study regarding the establishment of Green Calcium Ammonium Nitrate Fertilizer Factory.

The meeting also decided to form a high-level committee to review the current progress regarding the implementation of the Tamor Reservoir Hydropower Project and submit suggestions for the project.

Sushil Bhatta, the Chief Executive Officer of Investment Board, made a presentation of the activities carried out by the board and the status of implementation of the decisions of the 54th board meeting and the agenda of the 55th board meeting.