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IBN approves investment of Rs 64 billion for China-Nepal Friendship Industrial Park


KATHMANDU: The Investment Board Nepal has approved the investment of around Rs 64 billion for the construction of the China-Nepal Friendship Industrial Park in Damak, Jhapa.
The 39th meeting of the Board held under the chairmanship of Prime Minister and Board Chair, KP Sharma Oli, at the Office of the Prime Minister and Council of Ministers, Singha Durbar, on Friday, decided to give permission to Damak Clean Industrial Park Pvt. Ltd (DCIP) to prepare detailed project report of the China-Nepal Friendship Industrial Park to be constructed at the investment of Lhasa Economic and Technology Development Zone Jing-Ping Joint Creation Construction Project Development Co. Ltd.
Approving the propose of the Multi Model Logistics Park in Biratnagar, the meeting also decided to grant permission to CG Logistic Pvt Ltd to carry out study without burdening Nepal government with financial liability. An agreement had reached between CG Logistic Pvt Ltd and Sharaf Group of UAE for the development of the project on the occasion of Investment Summit-2019.
Similarly, the meeting approved the proposed Railway Linked Private Freight Terminal project to be constructed at Janakpur and decided to give permission to the Green Infrastructure Pvt Ltd to carry out study without burdening Nepal government with financial liability.
The Fuji Electric Company Ltd of Japan having the joint venture with Nebras Power Qatar Holding LLC, and the HIDCL having the joint venture with the Power Construction Corporation of China Ltd have been demanded the sealed proposals for the reservoir based Tamor hydropower of 756 MW capacity. These companies were selected after the evaluation of the letter of intent received from among various construction companies.
On the occasion, Chief Executive Officer of the Board, Maha Prasad Adhikari, briefed the meeting about the progress of the projects facilitated by the Board.
Finance Minister and Board’s Vice-Chair Dr Yubraj Khatiwada, Minister for Energy, Water Resources and Irrigation, Barshaman Pun, Minister for Physical Infrastructure and Transport, Raghubir Mahaseth, Minister for Federal Affairs and General Administration, Lalbabu Pandit, Vice-Chair of National Planning Commission, Dr Pushpa Raj Kandel, among others were present on the occasion.

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