IPB Approves Rs. 20 Billion Investment Proposal of Chinese Firm

On 13^th February 2018, the meeting of the Investment Promotion Board (IPB) approved Rs. 20 billion investment proposal of Hydro-China Corporation.

The meeting was chaired by Industry Minister Sunil Bahadur Thapa.

The Backstory:

The Chinese hydropower developer had submitted a proposal to the government seeking permission to invest in a 102-megawatt hydropower project in Gosaikunda, Rasuwa.

What they are saying:

Shankar Aryal, the member secretary of IPB, informed that the proposal of Hydro-China Corporation was approved after finding the company’s planned project in Rasuwa feasible.

What’s next:

The meeting concluded with following plans:

• To formulate common legal standards to regulate country’s cement industry.
• To form a task force to study and prepare the draft of standards to regulate cement industry in the country as soon as possible.
• To implement the government’s plan to begin one-window policy for investors as soon as possible.

One more thing:

The IPB meeting also gave a one-year ultimatum to brick kilns located in districts like Kanchanpur and Kailali that have been producing fly ash bricks to switch to production of common burnt clay bricks citing that pollution level among brick kilns producing fly ash bricks is comparatively higher.