IPB approves four projects worth Rs 31b
KATHMANDU, MAY 17 -
The Industrial Promotion Board ( IPB ) has approved four projects that have collectively pledged Rs 31 billion investment.
The projects that were approved on Monday include capacity upgradation of Bottlers Nepal Tarai Limited and three hydropower projects — Kabeli, Balefi and Likhu.
An IPB meeting chaired by Industry Minister Shanker Prashad Koirala decided to approve the Bottlers’ Nepal proposal to upgrade the capacity of its Chitwan-based production plant.
Department of Industry (DoI) Director General Dhruba Rabanshi said Bottlers’ Nepal had applied to the department for upgrading the plant’s capacity 203,000 kl per day from the existing 8,850 kl per day.
“With the approval of its proposal, the company will now put in an additional investment of around Rs 2.70 billion,” said Rajbanshi, who is also the board’s member secretary.
One of the leading multinational companies, Bottlers’ Nepal had submitted the proposal a couple of months ago, but the approval process was delayed as the IPB meeting had not been convened The company has so far invested Rs 55 million in its Chitwan-based plant.
Another approved project, Kabeli Hydropower Project (37.6 MW) is promoted by Kabeli Energy Limited, a subsidiary of Butwal Power Company.
The company has put in Rs 7.40 billion for the project development. The Taplegunj-based project received generation licence from the Department of Electricity Department in September 2012. Similarly, the 50-MW Balefi Hydropower Project will be constructed with an investment of Rs 5.88 billion. The project being promoted by Balephi Jalbidhyut Company had applied for generation license in March 2010.The 120-MW Likhu Hydropower Project, being developed by Green Ventures Limited, has committed Rs 16.18 billion investment.
The Ramechhap-based project had received generation licence in March 2012. “All of these hydropower projects have foreign investments in collaboration with local investors,” added Rajbanshi.
Source: The Kathmandu Post
