The 39th board meeting of the Investment Board Nepal on Friday approved Rs64 billion in foreign investment for the development of China-Nepal Friendship Industrial Park in Damak, Jhapa.

Damak Clean Industrial Park will prepare the detailed project report of the industrial park. The board said in a press statement that the multi-million-dollar project will be financed by Lhasa Economic and Technology Development Zone Jing-Ping Joint Creation Construction Project Development.

Similarly, the meeting chaired by Prime Minister KP Sharma Oli decided to ask a sealed proposal from two companies for the development of 756 MW storage-type Tamor Hydropower Project.

The project located in Panchthar and Tehrathum districts is expected to cost $1.2 billion based on the feasibility study conducted by the Nepal Electricity Authority in 2016.

The board said that a joint venture of Hydroelectricity Investment and Development Company and Power Construction Corporation of China and another joint venture of Nebras Power Qatar Holding LLC and Fuji Electric Company, Japan had expressed interest in the project development during Nepal Investment Summit held in March.

The board also approved CG Logistics proposal to prepare the Multi Model Logistic Park in Biratnagar. Likewise, Green infrastructure has been approved to study of the proposed Railway Linked Private Freight Terminal in Janakpur.

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