Kathmandu, April 29: Australian investment has entered the Rara Lake region, the best tourist destination of Nepal, which is called the queen of heaven.
Australia’s Expert Group is going to invest in the first luxury resort to be built in Rara.
The agreement was signed in the presence of Culture, Tourism and Civil Aviation Minister Hit Bahadur Tamang and Secretary Deepak Kafle at the 3rd Nepal Investment Conference which started on Sunday in Kathmandu.
Badri Aryal and Sanjiv Sharma on behalf of Expert Group and Abhishek Bikram Shah on behalf of Rara Holdings Pvt Ltd have signed the agreement.
In the first phase, about 70 crore rupees will be invested in the luxury resort to be built on an area of 80 ropani in Chhayanath Rara Municipality, Mugu.
Rara Holding’s Shah said that the resort will be built in a Nepalese design that is environmentally friendly and reflects the local culture and will make maximum use of locally available resources.
From this resort, which will be built at a height of 3,700 meters above the sea level, one can have a wonderful view of Rara Lake and the surrounding areas.
“This project is the first luxury resort in Karnali province. All the processes to start the construction of the project have almost reached the final stage. With this agreement, we will speed up the construction process from tomorrow and we have set a goal to complete the construction within the next 18 months,” he said.
He said that in the second phase of the project, an additional investment of 40 crore rupees will be made.
Expert Group has investments in education and hydropower in Australia and Nepal. With this deal, Expert Group has also expanded its investment in the tourism sector.
