A meeting of the Investment Board Nepal, chaired by Prime Minister KP Sharma Oli, has approved investments for several hydropower projects, including the Budhi Gandaki Hydropower Project. The meeting on Thursday made key decisions to advance Nepal’s energy sector, the Prime Minister's Secretariat said.

The investments that got a go-ahead include Budhi Gandaki Hydropower Project (341 MW) with approximate cost Rs70 billion; Jagadulla Semi-Reservoir Hydropower Project (106 MW) with an estimated investment of Rs23.59 billion; and Chainpur Seti Hydropower Project (210 MW) of Rs47.54 billion. In addition, the board extended the deadline for the Upper Marsyangdi Hydropower Project (327 MW) and Samrat Cement Company Pvt Ltd.

The Board also decided to increase the capacity of the West Seti Hydropower Project from 750 MW to 800 MW and amended the licence for its defined boundary area.

The meeting further approved changes to the shareholding structure and agreement for the Upper Karnali Hydropower Project.

Speaking at the meeting Prime Minister Oli emphasised the importance of coordinated efforts among relevant agencies to create a favourable investment climate and accelerate the nation’s journey towards prosperity. He also noted the need for legal and constitutional amendments to support development and economic growth.

Chief Executive Officer of the Investment Board, Sushil Gyewali, provided updates on the board’s progress. He shared that discussions with stakeholders were underway regarding the draft of the strategic and operational plan, developed following the board's decision on October 8.