Latest from Bibek Subedi
Role of solar in Nepal’s energy mix looks set to expand
Energy mix of Nepal, which till date is dominated by hydropower, is expected to be more diverse in coming years with more private developers showing interest in installing solar plants in different locations.
Remittance inflows up 28.5 percent despite drop in worker departures
Workers’ remittances in the first seven months of the fiscal year swelled 285 percent year-on-year, providing a much needed cushion to the country’s depleting foreign exchange reserves.
Hydropower project developers present wish list to minister
Private developers of hydropower projects have asked the government to address obstacles hampering their operations like delays in getting forest clearance, difficulties in obtaining explosives required for blasting rocks, and delays in the construction of power lines to evacuate the electricity generated.
Kulekhani-3 project enters testing phase
The Kulekhani-3 Hydropower Project is finally nearing completion 11 years after construction started. Time overruns due to slowpoke contractors resulted in the 14 MW scheme missing half a dozen completion deadlines.
Law amended to ease acquisition of forest land
The government has amended the Forest Act and included a new provision which will allow the developer of certain infrastructure projects to acquire forest lands required for the construction of the project by paying a fee.
Middle Bhotekoshi Hydroelectric project hits another setback
The construction of the Middle Bhotekoshi Hydroelectric Project, which had started to pick up speed after being stymied by a series of natural disasters like the 2015 earthquake, floods and soil erosion, has once again hit a setback with the contractor having money problems.
Workers start installing penstock pipes at 456MW Upper Tamakoshi project
Workers finally started installing penstock pipes at the Upper Tamakoshi Hydropower Project after a new contractor took charge of the construction of the plant.
Nepal Infrastructure Bank opens
Nepal Infrastructure Bank, the first private sector-led financial institution in the country established with the objective of funding large infrastructure projects, threw open its doors on Wednesday.
Government hopeful of achieving growth rate of above 7 percent
The government is hopeful of achieving an economic growth rate of 7-8 percent despite a slowdown in capital expenditure.
Six foreign firms bid for transmission line project
Six international companies have shown interest in executing a component of the Tamakoshi-Kathmandu Transmission Line Project being developed by the Nepal Electricity Authority.
Indian government approves proposal to build transmission line in Nepal
The Indian government has approved an investment proposal to build a transmission line in eastern Nepal to evacuate the electricity generated by Arun-3 Hydropower Project being developed by an Indian state-owned company.
Huaxin Cement Narayani all set for construction of cement plant
Huaxin Cement Narayani, a Nepali-Chinese joint venture formed to establish a cement factory in Dhading district is all set to start the construction of the plant. According to Investment Board Nepal, the government agency facilitating the joint venture company told the Post that the foundation stone of the factory will be laid within a few days.
Federation backs down from demand for interest rate cut
The Federation of Nepalese Chambers of Commerce and Industry has decided to back down from its demand for lower interest rates.
Proposed law gives new powers to Investment Board Nepal
The Cabinet recently approved a bill governing public-private partnership and foreign direct investment projects that gives Investment Board Nepal new powers to approve schemes worth more than Rs6 billion Currently, only investments of more than Rs10 billion come under the board’s purview as per the Investment Board Act which regulates its operation and functioning
Bankers criticise the central bank policies
Bankers have denounced the central bank’s recently introduced policy which asked banks and financial institutions to adopt a new formula to calculate the spread rate at which they are allowed to operate by the regulator.