Himal Press 
KATHMANDU: Investment Board Nepal (IBN) has approved Rs 146.22 billion foreign investment and Rs 21.37 billion domestic investment for five hydropower projects.
The 53rd board meeting of IBN chaired by Prime Minister Pushpa Kamal Dahal accepted foreign investment proposals for Lower Arun, Marshyangdi-1 (102 MW), Dudhoshi-2 Reservoir (70 MW), Simbuwa Khola and Upper Modi (43 MW).
According to a press release issued by the Office of the Investment Board Nepal (OIBN) on Thursday, the board decided to accept Rs 33.19 billion for Upper Arun, Rs 20.35 billion for Dudhkoshi-2, Rs 13.44 billion for Simbuwakhola and Rs 7.93 billion for Upper Modi.
The meeting also approved the draft of the Memorandum of Understanding (MoU) with DIAG Industries GmbH of Germany to study the feasibility of establishing a chemical fertilizers plant in Nepal.
Likewise, the board also approved the draft of the MoU with Dabur Nepal Pvt Ltd to increase its capital and capacity.
The board also approved Malaysian firm reNIKOLA Holdings Sdn Bhd’s proposal to open a green Calcium Ammonium Nitrate fertilizer plant in Nepal.
The meeting also approved the concept paper of the Investment Summit that OIBN is preparing to organize next year.
