Investment Board (IB) that was assigned to develop procedures and select
investors for 14 mega projects has put six projects, including five
hydropower and Kathmandu Metro Railway (KMR) project, in its priority
list and has started informal talks with potential investors for their
earliest implementation.
It has also asked different government agencies that were looking after those projects to forward it all the documents related with them. “We have also invited the interested investors for informal discussions,” said a senior IB official.
He told Republica that the IB has prioritized Tamakoshi III (650MW), Upper Karnali (900MW), Upper Marsyangdi (600MW), Arun III (900MW), West Seti (950MW) and KMR for immediate action. The government had handed over 14 projects to the Board in May, asking it to speed up their implementation in a fast track mode.
“All the 14 projects are national-pride projects and equally important for us; we prioritized them just for the sake of convenience and to remain focused,” said the source.
Under the fresh initiative, the IB is soon holding informal talks with the Chinese hydropower developer - Three Gorges - to take forward the West Seti Hydropower project. Similarly, it would also hold talks with Satluj Jal Vidyut Nigam Ltd (SJVN) and GMR Ltd - the two Indian developers that have expressed interest to invest in the remaining 4 hydropower projects.
“We had received their expression of interest after we endorsed a template of new Power Development Agreement (PDA) few weeks back,” said the source.
Both the Indian companies had expressed dissatisfaction over the PDA that the government proposed earlier, and stopped works at their respective projects. GMR has been developing Upper Karnali while Satluj has been working on Arun III.
Confirming these developments, Radesh Pant, CEO of the IB, said the board was dealing with the mega projects on project-to-project basis so that it could make a substantial progress for their earliest implementation.
“Investors are interested on those projects. Still, it will take a lot of time and careful touch to make these projects happen.”
In order to consolidate its work, the IB has written to the Ministry of Finance (MoF) to furnish it all the documents related to West Seti in order to start a formal negotiation with Three Gorges.
“Presently, the discussion is being held informally,” the source said, “The formal negotiation will start once we reach at a point from where we can move forward positively. If everything moved well, we will be able to sign a formal agreement on those projects by coming two months.”
Apart from the six prioritized projects, the IB is holding coordination meetings with all the government agencies which were leading the remaining eight projects, including 76-km Kathmandu-Tarai fast track, Nijgadh international airport, and project to upgrade Tribhuvan International Airport.
“The board is also closely working with all the concerned offices of the government in order to know the current status of the projects and move from those points,” said the official.
It has also asked different government agencies that were looking after those projects to forward it all the documents related with them. “We have also invited the interested investors for informal discussions,” said a senior IB official.
He told Republica that the IB has prioritized Tamakoshi III (650MW), Upper Karnali (900MW), Upper Marsyangdi (600MW), Arun III (900MW), West Seti (950MW) and KMR for immediate action. The government had handed over 14 projects to the Board in May, asking it to speed up their implementation in a fast track mode.
“All the 14 projects are national-pride projects and equally important for us; we prioritized them just for the sake of convenience and to remain focused,” said the source.
Under the fresh initiative, the IB is soon holding informal talks with the Chinese hydropower developer - Three Gorges - to take forward the West Seti Hydropower project. Similarly, it would also hold talks with Satluj Jal Vidyut Nigam Ltd (SJVN) and GMR Ltd - the two Indian developers that have expressed interest to invest in the remaining 4 hydropower projects.
“We had received their expression of interest after we endorsed a template of new Power Development Agreement (PDA) few weeks back,” said the source.
Both the Indian companies had expressed dissatisfaction over the PDA that the government proposed earlier, and stopped works at their respective projects. GMR has been developing Upper Karnali while Satluj has been working on Arun III.
Confirming these developments, Radesh Pant, CEO of the IB, said the board was dealing with the mega projects on project-to-project basis so that it could make a substantial progress for their earliest implementation.
“Investors are interested on those projects. Still, it will take a lot of time and careful touch to make these projects happen.”
In order to consolidate its work, the IB has written to the Ministry of Finance (MoF) to furnish it all the documents related to West Seti in order to start a formal negotiation with Three Gorges.
“Presently, the discussion is being held informally,” the source said, “The formal negotiation will start once we reach at a point from where we can move forward positively. If everything moved well, we will be able to sign a formal agreement on those projects by coming two months.”
Apart from the six prioritized projects, the IB is holding coordination meetings with all the government agencies which were leading the remaining eight projects, including 76-km Kathmandu-Tarai fast track, Nijgadh international airport, and project to upgrade Tribhuvan International Airport.
“The board is also closely working with all the concerned offices of the government in order to know the current status of the projects and move from those points,” said the official.
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