Prime Minister Sushil Koirala –as the chairman of the Investment Board of Nepal – today said that the government would execute mega hydropower and physical infrastructure projects on a fast track basis.

Chairing the first meeting of the board here today – after he became the Prime Minister – Koirala also asked it to be more active in implementing mega projects. The board looks after hydropower projects above 500 MW and mega infrastructure projects above Rs 10 billion only.

He said the present government is committed to creating an investment-friendly climate. However, the premier stressed the need to forge common understanding for mega infrastructure projects’ development.

The 12th meeting of the board also discussed on Upper Karnali and Arun III hydropower projects, second International Airport in Nijgadh, and upgrading of Tribhuwan International Airport (TIA).
The board also decided to seek commitment from the Ministry of Culture, Tourism and Civil Aviation for the construction of second International Airport in Nijgadh and upgrading of Tribhuwan International Airport.

The meeting also authorised the board to call for Expression of Interest (EoI) from interested investors to conduct feasibility study for setting up a chemical fertilizer plant in the country, informed the board’s chief executive Radhesh Panta.

The country has been talking on setting up of a fertilizer factory that could be instrumental in substituting fertilizer import as the country imports 700,000 tonnes to 800,000 tonnes of chemical fertilizers annually.

The meeting also decided to form a three-member team led by joint secretary at the board to assess proposal for the management of solid waste in Kathmandu Valley. The panel comprising representatives from Waste Management Technical Assistance Centre and a waste management expert will also decide on contract awarding.

Finance minister Ram Sharan Mahat, energy minister Radha Gyawali, minister for Physical Infrastructure and Transport Bimalendra Nidhi, minister for Culture, Tourism and Civil Aviation Bhim Acharya, minister for Industry Karna Bahadur Thapa, chief secretary Leela Mani Poudyal, and central bank governor Dr Yubaraj Khatiwada were also present in the meeting.

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