Kathmandu. A meeting of the Investment Board has approved an investment of Rs 8.84 billion for the Lower Apsuwa Hydropower Project with a capacity of 54 MW.

Spokesperson at the Office of the Investment Board Pradyumna Prasad Upadhyay said the decision was taken at the board’s 65th meeting held today.

The meeting also decided to form a negotiation committee under the coordination of chief executive officer to prepare the draft of the project development agreement of 800 MW Paschim seti Hydropower Project and submit the proposal to the board after discussing with the developers.

The meeting chaired by Prime Minister and Investment Board Chairman KP Sharma Oli decided to give authority to the Chief Executive Officer of the Investment Board to submit a detailed feasibility study report on the project related to the development and operation of Panchkhal Special Economic Zone and the Kathmandu-Hetauda-Birgunj podway project.

Likewise, the meeting also decided to give consent to the promoter company Karnali Transmission Company Pvt Ltd for conducting feasibility and environmental study of the new route alignment of the power transmission line of the 900 MW Upper Karnali Hydropower Project.