KATHMANDU: The Investment Board Nepal has received letters of intent for two projects showcased at the Third Investment Summit, held on April 28 and 29.

Ramesh Adhikari, joint spokesperson for the Investment Board Nepal, announced that Tahachal-based Soaltee Pvt Ltd, presented a letter of intent for the Janaki Heritage Hotel and Cultural Village, and Gansu-SS Landmark, Blue Bird Mall, Kathmandu, registered a letter of intent for the Babarmahal Administrative Plaza Project.

The estimated cost of the Janaki Heritage Hotel and Cultural Village Project is Rs 2.35 billion. The Investment Board Nepal conducted a study on this project. The proposal aims to develop Janakpurdham as a major tourism destination and expand the area into an eco-tourism zone.

Similarly, the board had issued a letter of intent through the Investment Summit for the construction of the Babarmahal Administrative Plaza, which aims to house various government offices. The proposed project covers an area of 30,021 square meters and its estimated cost is Rs 10.2 billion.

The board had extended the deadline for letters of intent for 12 projects under its jurisdiction. It is reported that the pre-feasibility studies for these identified projects have been completed, and initial development phases have commenced.

A total of 19 projects were showcased at the Investment Summit to attract investment. -- RSS