KATHMANDU: The Industrial Promotion Board (IPB) has granted approval for inflow of foreign investment to Upper Kaligandaki Hydropower Project.
Today´s meeting of the Board has decided to approve increment of foreign investment, scaling up the capital of the promoter Shell Clean Hydropower in the project and the loan agreement.
Chinese Company Sino Hydro and Trade Link Global Pvt Ltd are jointly investing in the 65-MW hydro project. The project is being constructed on the Kaligandaki River along the border of Myagdi and Parbat districts.
It is learnt that the Chinese Company is flowing 92 per cent and the domestic company is investing 8 per cent of the total investment in the project.
Likewise, the meeting also approved increment of capital and capacity of Shell Clean Hydropower established with a view to producing 40-MW hydropower having project sites in Garma and Tilanga VDCs of Solukhumbu district.
The project has the total investment of Rs 13 billion. RSS
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