Kathmandu, Nov 21: The Investment Board Nepal (IBN) has approved investment for the Betan Karnali Semi-Reservoir Hydropower Project (439 MW) to be developed at an estimated cost of Rs. 93.40 billion.
The Employee Provident Fund (EPF) will be the lead developer and financier of the project.
The meeting held at the Prime Minister’s Office (PMO) on Wednesday also decided to form a negotiation committee for the Project Development Agreement (PDA) for the Betan Karnali.
Know about Betan Karnali…
Betan Karnali Sanchaya Karta Hydropower Company Limited (BKSHCL) was established on 7th May 2017 as a public limited company under the Company Act, 2063 of Nepal as an initiative of the Karmachari Sanchaya Kosh (KSK), or the Employees Provident Fund (EPF). The major shareholders of the company are the contributors of KSK (40% shareholding). Other shareholders include KSK (15%), Nepal Electricity Authority (10%), and Vidhyut Utpadan Company Limited (10%). The authorized and paid-up capital of the company is: Rs 20 billion and Rs. 10 billion respectively. BKSHCL has obtained the Feasibility License of the 439 MW Betan Karnali Hydroelectricity Project (HEP) for development from the Ministry of Energy. The Detailed Engineering Report (DPR) has been completed and the Environment Impact Assessment (EIA) of the project is near completion.
The IBN informed in a statement that the meeting, chaired by Prime Minister and Chairperson of the Board Sushila Karki, also approved the draft generation licence for the Lower Arun Hydropower Project (669 MW) and authorised the CEO of the Investment Board Office to issue the licence.
Similarly, the meeting decided to submit a proposal to the Cabinet seeking approval of the draft of Direct Agreement for the Arun-III Hydropower Project (900 MW), and to extend the survey licence for the West Seti Reservoir Hydropower Project (800 MW).
The Board further decided to authorise the CEO to sign an MoU for the preparation of the Detailed Project Report (DPR) and to issue a survey licence for the Auto Service Eco-Industrial Park Project (estimated cost of Rs. 16 billion). It was submitted as an unsolicited proposal by Blazepic Global Group Ltd., Hong Kong.
Likewise, the meeting approved temporary staffing positions of various services, groups and categories required for the Investment Board Office in the current Fiscal Year 2025/26, and decided to submit the draft amendment to the Public-Private Partnership and Investment Regulations, 2020, to the Cabinet for approval.
The meeting was attended by Finance Minister Rameshore Prasad Khanal, Minister for of Energy Kulman Ghising, Minister for Industry Anil Kumar Sinha, Chief Secretary Ek Narayan Aryal, Governor Bishwonath Poudel, among others. #IBN #hydro #investment #Nepal
