Kathmandu. The 67th meeting of the Investment Board of Nepal (IBN) formed in accordance with the Clause 5 of the Public-Private Partnership and Investment Act-2075 has concluded.

The meeting also approved the investment of 439 MW Betan Karnali Semi-Reservoir Hydropower Project and formed a talk committee for the project development agreement. The estimated cost of the project is Rs 93.40 billion.

The meeting reviewed the progress of the Investment Board Office of the last fiscal year 2081÷082 and approved the annual action plan for the current fiscal year 2082÷083.

The meeting also decided to approve the draft of the license for generation of Lower Arun Hydropower Project (669 MW) and give authority to the Chief Executive Officer of the Office of the Investment Board to issue the license.

The meeting also decided to submit a proposal to the Council of Ministers for approval of the agreement on Arun-3 Hydropower Project (900 MW) and to extend the deadline for survey license of West Seti Reservoir Hydropower Project (800 MW).

The meeting also decided to grant a survey license to the Chief Executive Officer of the Investment Board (IBN) by signing an agreement for the preparation of detailed project report for the development and operation of the Auto Service Eco-Industrial Park project (estimated cost of Rs 16 billion) presented as an uninvited proposal by the project developer company Blazepick Global Group Limited, Hong Kong.

The meeting also decided to approve the temporary vacancy for various services, groups and categories required for the office of the Investment Board for the current fiscal year 2082÷83 and to submit the draft of amendment to the Public-Private Partnership and Investment Regulations-2077 to the Council of Ministers.