Investment Board Nepal has approved proposed investments of Rs99.18 billion for four energy projects.

An IBN board meeting chaired by Prime Minister Pushpa Kamal Dahal on Thursday approved an estimated investment of Rs34.59 billion for the 166 megawatt Super Tamor Hydroelectric Project based in Taplejung; Rs10.08 billion for the 42MW Upper Modi-A Hydroelectric Project in Kaski; Rs21.10 billion for the 250MW solar energy project based in Kohalpur and Banganga; and Rs33.41 billion for the 139.2MW Lower Manang Marsyangdi Hydroelectric Project, the IBN said in a statement.

Of them, the 250MW solar energy project and the Lower Manang Marsyangdi are being funded by foreign investors.

The meeting formed a task force led by a joint secretary of the IBN with a mandate to study the additional investment in the HuaXin Cement Narayani Pvt Ltd and submit a report within 15 days, the IBN said.

"The meeting also formed a committee led by IBN Chief Executive Officer Sushil Bhatta to hold talks with the developers of the 327MW Upper Marsyangdi-2 Hydroelectric Project and the 250MW solar energy project based in Kohalpur and Banganga to reach project development agreement with them."

Also, the meeting decided to forward the report submitted by the high-level committee formed to study the issues concerning land acquisition for the Chhyangkuti to Diding access road of the under construction 900MW Arun III hydro project to the Cabinet for a decision, said IBN spokesperson Pradyumna Prasad Upadhyay.

Besides, the meeting gave permission to repatriate the money of foreign investors as per the share purchase agreement approved for Dang Cement Project. The board extended the term of the committee to study the Tamor Reservoir Hydroelectric Project and the other panel to study the project development and investment modality of the Nijgadh International Airport Project until July 16.

The meeting—attended by several ministers including those heading finance, energy, irrigation, industry, commerce and supply ministries, and other top officials—decided to direct officials to promote the culture of developing projects based on public-private partnership, said Upadhyay.