The Investment Board Nepal (IBN) has approved investment of Rs. 14.27 billion for the construction, operation and management of Suryatara Cement Project.
The 50th meeting of the Board chaired by its Chairman and Prime Minister Sher Bahadur Deuba on Thursday approved the investment.
Similarly, the Board has decided to give permission to DIAG Industries GmbH Germany for a detailed feasibility study for setting up a chemical fertiliser factory at Bardaghat in Nawalparasi.
The meeting approved the detailed project report submitted by the proposing company regarding the Lower Arun Hydropower Project (679 MW), according to a press statement of IBN.
The meeting also directed the Office of Investment Board to study and submit a report on the issue of extension of financial management of the Upper Karnali Hydropower Project.
Nepal Rastra Bank (NRB) has suggested opening additional cement industries with foreign investment.
A report titled “Foreign Investment in Cement Industry in Nepal: A study of socio-economic impact” has shown that it would be appropriate to allow the opening of more cement industries with foreign investment to meet the growing domestic demand for cement by using the limestone mines available in Nepal and to reduce imports and promote exports.
