31 project proposals valued at Rs 103b land at NIB

The Nepal Investment Board (NIB), a high-level government entity for facilitating the implementation of mega projects and organising the celebration of Investment Year 2012/13, has received a total of 31 new project proposals valued at Rs 103 billion from the domestic private sector.
Different groups in the domestic private sector submitted business plans after NIB formally sought project proposals in early December, 2012. According to the NIB secretariat, the private sector has submitted 13 project proposals in the agricultural sector, two in energy, and six in health and education.
Similarly, the NIB secretariat has received two project proposals in the hydropower sector, one in information and technology, one in infrastructure and six in the tourism sector.
"We are now assessing the project proposals submitted by the domestic private sector," Radesh Pant, chief executive officer at NIB, said on Thursday.
Elaborating on the process of project evaluation, Pant said that NIB would focus mainly on the financial viability of the projects and the economic returns from them. "Local development from the project and its benefit to the people will be one of the major yardsticks for assessing a project," Pant said.
The government had announced it was bringing forward a total of 50 projects of strategic importance for the country. The NIB secretariat made a public announcement in early December, 2012 to submit the project proposals.
Additionally, 20 different projects have been developed in the tourism sector in collaboration with the International Finance Corporation (IFC), a member of the World Bank Group, and tourism entrepreneurs.
"The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has developed 20 different project proposals," an official at FNCCI said on condition of anonymity. "FNCCI also developed 10 different agricultural business plans."
NIB, which is already overseeing 14 mega projects including five hydropower projects, has unveiled a plan to identify viable projects from the total number of proposals submitted and move them forward for implementation jointly with the private sector.
The private sector, that first came up with the idea of celebrating Investment Year in the country, has urged NIB to identify strategically important projects and prioritize them.
"NIB is now capacitated to take development activities forward," Suraj Vaidya, president of FNCCI, said. "It has to make clear why a particular project is necessary in the country."
Vaidya strongly opposed the government´s plan to develop international airports in four cities, namely, Pokhara, Bhairawa and Nijghad as well as Tribhuvan International Airport (TIA) in Kathmandu.
"What is the rationale of developing four international airports that are just 15 to 25 minutes from Kathmandu?" said Vaidya. "We have to act strategically while making such a huge investment."