KATHMANDU: The Investment Board has approved an investment of Rs 8.84 billion for the 54 MW Lower Apsuwa Hydropower Project.

According to board spokesperson Pradyumna Prasad Upadhyay, the decision was made in the 65th meeting of the board held today.

The meeting also decided to form a negotiation committee under the coordination of the Chief Executive Officer to hold discussions with the developer regarding the draft Project Development Agreement (PDA), financial framework, and related matters of the 800 MW West Seti Hydropower Project.

The meeting, chaired by Prime Minister and Investment Board Chair KP Sharma Oli, decided to authorize the CEO of the board to submit the detailed feasibility study report and grant survey permits for the development and operation of the Panchkhal Special Economic Zone and the Kathmandu–Hetauda–Birgunj Podway Project.

Similarly, the meeting approved the proposal of Karnali Transmission Company Pvt. Ltd. to conduct feasibility and environmental studies of a new alignment for the transmission line of the 900 MW Upper Karnali Hydropower Project.

The meeting was attended by Deputy Prime Minister and Finance Minister and Board Vice-Chair Bishnu Prasad Paudel, Minister for Physical Infrastructure and Transport Devendra Dahal, National Planning Commission Vice-Chair Prof. Dr. Shivaraj Adhikari, Chief Secretary Ek Narayan Aryal, Nepal Rastra Bank Governor Dr. Biswo Nath Poudel, Secretary of the Prime Minister’s Office Raj Kumar Shrestha, and other senior officials.