Government accepts FDI worth $200 million

The government has decided to accept foreign investment worth 200 million US dollars for the Dolma Fund Management for solar energy production and management project in the country.

The 31st meeting of the Investment Board Nepal held under the chairmanship of Chairperson of IBN and Prime Minister KP Sharma Oli passed the Project Development Agreement prepared by the Board after holding a discussion with the developer company, NepWest Company Pvt Ltd, for the implementation of first ‘package’ under Kathmandu Valley’s Integrated Solid Waste Management Project.

According to the Board, Kathmandu Metropolitan City, Dakshinkali, Chandragiri, Nagarjun, Tarkeshwor, Tokha, Budhanilkantha, Gokarneshwor, Kageshwor-Manahara, and Shankharapur municipalities are incorporated in the package.

Similarly, the Board has also directed the Office of the Investment Board Nepal to hold a discussion with China’s Three Gorges International Cooperation coordinating with Finance, Energy and Irrigation ministries for the implementation of West Seti Hydropower Project soon and to reach to a conclusion within two months.

The meeting also decided to form a task force comprising representatives of concerned bodies under the coordination of the Secretary at the Office of the Prime Minister and Council of Ministers to review the amendment proposal prepared by the Board to update the IBN Act-2068.

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