Kathmandu. The 68th meeting of the Investment Board of Nepal (IBN) held today under the chairmanship of Prime Minister Balendra Shah has decided to approve the investment of two semi-reservoir hydropower projects at a cost of Rs 21.17 billion.

The meeting also decided to approve the investment of Narkhola Half-Reservoir Hydropower Project (58.9 MW) at a cost of Rs 10.75 billion and Sani Bheri-3 Semi-Reservoir Hydropower Project (46.72 MW) at a cost of Rs 10.42 billion.

Similarly, the meeting decided to implement commercial generation of Arun-3 (900 MW) project by February 2028 and facilitate the construction of Upper Karnali Hydropower Project (900 MW) immediately as per the project development agreement.

The meeting has decided to delegate necessary authority to the Chief Executive Officer of the Investment Board Office for the effective implementation and facilitation of the implementation of approved projects and services to be provided to the investors.

Likewise, directing the Nepal Tourism Office to make necessary legal arrangements to make the proposals not called for by the Board by making them compete through the Swiss Challenge method as per the need, and to give priority to the development of projects of this type keeping in mind the use of renewable energy, employment generation and economic development of Nepal if the investment proposals of new information technology-based infrastructure projects including artificial intelligence are received.