Kathmandu. The 64th meeting of the Investment Board Nepal has decided to go ahead with various projects including investment approval for Muktinath Kewalkar Project.
A meeting held at the Prime Minister’s official residence, Baluwatar today under the chairmanship of Prime Minister and Board Chairman KP Sharma Oli approved investment for the construction of 81.041 km long cable car with stations at seven places from Seraphant (Birethanti÷Naya Bridge) of Parbat to Muktinath of Mustang.
Muktinath Darshan Pvt Ltd had proposed to construct the project at a cost of Rs 57.64 billion in ‘boot’ (build, own, operate, transfer) format.
The meeting has formed a committee under the coordination of Chief Executive Director of the Board Sushil Gyawali to hold talks on the terms and conditions of the project development agreement with the private limited. It is expected that if the cable car comes into operation, there will be a huge increase in tourists and employment at the local level. The cable car has a capacity to carry at least 10,000 people per day.
The meeting also decided to further study the detailed project report of the 750 MW West Seti Reservoir Project with an investment of Rs 160 billion and to get approval from the Cabinet to draft an agreement to be signed with South Korea’s Korel to study cooperation in the railway sector in Nepal.
Similarly, investment approval for 43.2 MW Chhilung Khola Hydropower Project, 216 MW Bajhang Upper Seti Hydropower Project and 44 MW Bakan Khola Hydropower Project has been approved by the Board. The meeting also decided to forward the proposals received for setting up refined able oil industry in Janakpur and information technology parks at various places.
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