Oibn Annualreport 2021 22pdf 6936 019 1691595964

G OV E R N M E N T O F N E PA L

I N V E S T M E N T B OA R D N E PA L

INVESTMENT BOARD NEPAL

Annual
Report
2021-2022 AD (2078-2079 BS)
Annual Report
FY 2078/79 (2021-2022 CE)
Published: December 2022
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Office of the Investment Board Nepal, 2022
Government of Nepal
Investment Board Nepal
Office of the Investment Board ICC Complex New Baneshwor, Kath-
mandu, Nepal
Phone: +977 - 1 -4475277
Fax: +977 - 1-4475281
Email:[email protected]
Website:www.ibn.gov.np
Twitter/Facebook/Youtube:@ibnoffice
ANNUAL REPORT 2021-2022 AD (2078-2079 BS)
CEO'S
MESSAGE
Investment Board Nepal (IBN) has taken a IBN is determined to
significant leap in these 11 glorious years in terms provide quality and
of promoting and garnering private investments, fast-track services
executing projects, and developing the to investors
institution as a PPP centre of excellence. Despite throughout the
the turbulence caused by the Covid-19 pandemic project lifecycle.
and subsequent economic shocks globally, Other various
the IBN has provided effective handholding to initiatives have
investors and expedited necessary works of the been taken like
pipeline projects uninterruptedly. a web-based OSS
platform, knowledge
Implementation of the IBN’s first-ever Strategic management platform,
Plan and Business Plan (2021/22-2025/26) has project bank management
streamlined each activity of this institution in a information system, manuals, SOPs and guidelines,
result-based framework. The IBN has presented to make this institution more functional.
a demonstrative effect in hydroelectricity
development under the PPP framework for The IBN Project Bank Guidelines is another
domestic consumption schemes and export milestone in project development and
propositions as well. Hydroelectric projects with management, which envisions the development of a
a combined capacity of more than 4,000 MW, well-conceived, credible, bankable, and sustainable
including the 750 MW West Seti Hydroelectric PPP project pipeline and promotes an evidence-
Project, 450 MW SR6 HEP, 327 MW (PROR) Upper based and transparent project procurement
Marsyangdi 2 have already been streamlined in a process. I believe this will be a tipping point for
result-based framework. minimising associated risks during the project
execution and attract more FDI in the country and
Likewise, the commercial operation of the 6,000 drive us towards realising our goals.
and 3,000 TPD capacity Hongshi Shivam and
Huaxin Cement Narayani plants, respectively, have The Annual Report-2022 highlights key
had a positive impact on advancing quality and achievements, major activities, project
competitive pricing in the Nepali cement industry. development status and lessons learned during
FY 2021-22. Finally, I extend my appreciation to
IBN has ensured that the morale and confidence the team that worked on producing this report.
of investors are being maintained. The
reinvestment of Dabur Nepal, the country’s Thank you!
first-generation FDI project, for product
diversification and capacity enhancement and
interest lodged by SJVN Limited, the principal
sponsor of Arun-3 HEP, to develop 669 MW
Lower Arun HEP, are illustrative examples of a
favourable investment climate in Nepal. Sushil Bhatta
CEO
3
Partnering
for Economic
Prosperity
4
#investinnepal
Unleashing Investment
Potential for Economic
Transformation
5
IBN Investment Approval
19
Energy
14
Non-Energy
Projects Projects
Rs.725.17 Billion Rs.315.08 Billion
OIBN’s Engagement in
Projects till date
10Energy
17
Non-Energy
Projects Projects
27Total
Total
Investment
Approval
Projects Rs. 1040.25 billion
6
Invest in Emerging Nepal

We are ready to collaborate
with private investors.
7
CONTENTS
ACRONYMS 10
CHAPTER 1: INTRODUCTION 13
Investment Board Nepal 13
Mandate of the IBN 14
The Rationale of the Report 16
Structure of the Report 16
CHAPTER 2: HIGH-LEVEL MEETINGS 18

Board Meetings 18
MFC Meetings 21
CHAPTER 3: OVERVIEW OF ACTIVITIES 2021/22 25

Project Development and Management 27
Investment Promotion 91
Institutional Development 96
Coordination, Collaboration and Partnership 102
CHAPTER 4: LESSONS LEARNED 107

Project Development and Management 107
Investment Promotion 107
Institutional Development 108
Coordination, Cooperation and Partnership 109
CHAPTER 5: THE WAY FORWARD 111
ANNEXES 124
Financial Statements 125
Investment Approval by IBN (Up to 2079 Asar Last) 127
8
TABLES
Table 1: Composition of IBN 14
Table 2: Composition of Monitoring and Facilitation Committee 15
Table 3: Major decisions taken by IBN (2021/22) 19
Table 4: Investment approval in FY 2021/22 20
Table 5: MFC meetings 21
Table 6: Energy projects under OIBN 28
Table 7: Non-energy projects under OIBN 54
Table 8: Investment approval in FY 2021/22 95
Table 9: Digital initiatives 97
9
ACRONYMS
ADB Asian Development Bank
AGM Annual General Meeting
CDO Chief District Officer
CE Common Era
CII Confederation of Indian Industry
Co. Company
DBFOM Design-Build-Finance-Operate-Maintain
DCIP Damak Clean Industrial Park Ltd.
DFSR Detailed Feasibility Study Report
DIT Department of International Trade
DOED Department of Electricity Development
DPS Detailed Project Study
EIA Environment Impact Analysis
EOI Expression of Interest
FC Financial Closure
FCDO Foreign, Commonwealth and Development Office
FDI Foreign Direct Investment
FII Federation of Indian Industry
FNCCI Federation of Nepalese Chambers of Commerce and Industry
FS Feasibility Study
FY Fiscal Year
HEP Hydroeclectric Project
IBN Investment Board Nepal
IBNPB Investment Board Nepal Project Bank
ICT Information and Communication Technology
IEE Initial Environment Examination
IFC International Finance Corporation
INC India Nepal Centre
IPA Investment Promotion Agency
IT Information Technology
JICA Japan International Cooperation Agency
JPJCCPD Jing-Ping Joint Creation Construction Project Development Co. Ltd.
KVDA Kathmandu Valley Development Authority
KM Kilometre
KTM Kathmandu
10
Ltd. Limited
MAN Management Association of Nepal
MFC Monitoring and Facilitation Committee
MOF Ministry of Finance
MOFA Ministry for Foreign Affairs
MoU Memorandum of Understanding
MTPA Metric Tonnes Per Annum
NA Not Applicable
NIS Nepal Investment Summit
NPC National Planning Commission
O&M Organization and Management
OIBN Office of the Investment Board Nepal
OPMCM Offfice of the Prime Minister and Council of Ministers
OSS One-Stop Service
PCC Project Coordinattion Committee
PDA Project Development Aggrement
PFS Pre-Feasibility Study
PHDCCI Punjab, Haryana, and Delhi Chamber of Commerce and Industry
PIA Project Investment Aggrement
PIN Project Idea Note
PMU Project Monitoring Unit
PPA Power Purchase Aggrement
PPD Passengers Per Day
PPP Public-Private Partnership
PSA Power Sales Aggrement
PSAT Project Screening and Analytics Tool
RACIQ Responsible, Accountable, Consulted, and Informed Quality
RFP Request for Proposal
SAPDC SJVN Arun-3 Power Development Company
SDGs Sustainable Development Goals
SEJON Society of Economic Journalists-Nepal
SEZA Special Economic Zone Authority
SMT Senior Management Team
TEU Twenty Equipment Unit
UK United Kingdom
UNDP United Nations Development Programme
UNIDO ITPO United Nations Industrial Development Organization Investment and
Technology Transfer Office
USD United States Dollar
VfM Value for Money
WAPPP World Association of PPP Units and Professionals
WBG World Bank Group
11
CHAPTER 1
INTRODUCTION
12
1 INVESTMENT
BOARD NEPAL
Investment Board Nepal is a high- Investment Board Act, of 2068. In

level government agency chaired 2019, that act was replaced and
by the Rt. Honorable Prime Minster. IBN is now governned by the Public
The other members of the Board are Private Partnership and Investment
the Minister for Finance, who serves Act (PPPIA) that was passed the
as the Vice Chairperson, Minister for same year.
Industry, Commerce, and Supplies,
Minister for Forests and Environment, PPPIA has granted IBN the mandate
Minister for Energy, Water Resources to approve and implement large
and Irrigation, Vice-chairperson of projects. Any energy project with a
NPC, Governor of NRB and the Chief minimum capacity of 200 MW or any
Secretary of GoN. The CEO of IBN is non-energy project with a minimum
member secretary of the Board. investment amount of Rs. 6 billion falls
under the purview of the Board.
The IBN was established in 2011
and was first governed by the
13
Table 1: Composition of the IBN

1. Prime Minister Chairperson
2. Finance Minister Vice Chairperson
3. Minister for Industry, Commerce and Supplies Member
4. Minister for Forests and Environment Member
5. Minister for Energy, Water Resources and Irrigation Member
6. Minister related to the project Member
7. Vice-Chairperson of the National Planning Commission Member
8. Governor of Nepal Rastra Bank Member
9. Chief Secretary of Government of Nepal Member
10. Three persons, including at least one woman, nominated by Member
the Board from amongst the experts in industries, tourism,
infrastructure development, commercial law and finance sectors
11. The Chief Executive Office of the Office Member-Secretary
Mandate of the IBN 3. Make arrangements for unsolicited

The IBN has two broad mandates, proposals for PPP projects.
as specified in the PPPIA. The first 4. Monitor the approved projects.
is investment promotion and the 5. Recommend GoN for financial
second is the approval, development and non-financial incentives for
and management of projects that the developer.
meet an appropriate threshold value. 6. Approve PDA and PIA.
7. Provide prompt solutions to the
Projects that fall under IBN's purview problems raised in approved
as defined by the second mandate projects.
can be implemented either as PPP or
as private investment. In either case, Investment Promotion
the threshold for IBN to be involved 9. Develop Nepal into a destination
is a capacity of 200 MW in the for foreign investment by
energy sector or an investment of creating an investment-friendly
Rs. 6 billion in the non-energy sector. climate.
10. Advice GoN to conduct bilateral
According to the PPPIA, IBN’s main investment agreements and double
areas and scope of concern can be taxation avoidance treaties.
classified into four groups. 11. List the successful or
pre-qualified investors.
Project Development and 12. Maintain good coordination
Management: and collaboration with Nepali
1. Identify the projects to be embassies abroad for investment
implemented through PPP or promotion.
private investment.
2. Conduct all procedures in process Institutional Development
of purchasing the PPP project. 13. Formulate policies on PPP and
private investment.
14
14. Provide necessary expert service chaired by the Vice Chairperson. The
to the GoN agencies about the MFC's role is to implement, monitor
implementation of PPP projects and facilitate projects that are
and private investment. related to the Board.
15. Approve annual programmes and
budget of the Board. The Office of the Investment Board is
16. Operate a one-stop service. the Secretariat of IBN. The Office is
responsible for project identification,
Coordination, Collaboration and survey, implementation of the
Partnership approved projects, and selection
17. Coordinate and facilitate the of the developer for PPP projects
purchase and lease of the using transparent and established
required land for the project. criteria. The office is responsible
18. Coordinate and facilitate for facilitating both PPP as well as
with concerned government private sector projects. The Office is
agencies for permission, licence, responsible for ensuring that there
or approval in line with the are no hurdles until the project is
implementation of the project. implemented and often it needs to
19. Maintain coordination among all coordinate with other government
ministries, concerned provinces, agencies to achieve this end.
local level or government, and
private sector relating to project The Office also has an advisory role
development, investment and and it advises the Board on how
project implementation. to optimally implement projects
in view of their financial structure,
PPPIA has mandated the creation the legal and socioeconomic
of a Monitoring and Facilitation impacts of implementation and its
Committee (MFC) which is to be economic impact. The Office, can,
Table 2:Composition of the Monitoring and Facilitation Committee

1. Vice Chairperson of the Board Convener
2. Secretary, Office of the Prime Minister and Council of Ministers Member
(Economic and Infrastructure Development)
3. Secretary, Ministry of Forests and Environment Member
4. Secretary, Ministry of Agriculture, Land Management and Member
Cooperatives
5. Secretary, Ministry of Urban Development Member
6. Secretary, Ministry of Industry, Commerce and Supplies Member
7. Secretary, National Planning Commission Member
8. Secretary, Ministry related to the project Member
9. Chief Executive Officer Member
10. Chief, Public Private Partnership Unit, Investment Board Member-Secretary
15
The Office is for example, advise the Board on Structure of the Report
whether a project is necessary or
responsible The report contains five chapters. The
not, if changes need to be made to first chapter provides an introduction
for project
its current form, or of the range of to the structure and workings of the
identification, benefits to be given to the developer. Board and its members.
survey,
implementation The second chapter highlights the
of the approved Rationale of the Report major decisions taken by IBN and MFC.
projects, and The Board is mandated by the PPPIA
selection of the to produce an annual report that The third chapter describes
highlights key indicators such as IBN's activities in more detail by
developer for PPP
expenditures and how fully targets categorising them in terms of the
projects through the
have been achieved. IBN's Strategic Plan and how the
appropriate process activities contributed to meeting the
of negotiation. The Good Governance Act, 2008 different categorical targets.
also requires all federal government
agencies to prepare annual reports on The fourth chapter provides lessons
their activities. learned by OIBN and the consequent
actions that were taken.
This Annual Report 2021/22 shows the
progress made in meeting the goals The fifth chapter describes initiatives
set out in the annual budgetary plan that can be taken in the future.
of the OIBN for fiscal year 2021/22
and the achievements made against Finally an annex is added to this
the indicators set out in the PPPIA as report to provide more information
described earlier. about OIBN's activities and
processes.
16
CHAPTER 2
HIGH-LEVEL MEETINGS
17
2 HIGH-LEVEL
MEETINGS
Four Board meetings of IBN and two 41 decisions were made in those
MFC meetings were held in 2021/22. meetings.
During the fiscal year 2021/22, IBN

Board Meetings approved investment worth
Four Board meetings of IBN were Rs. 122.69 billion for 6 projects.
held during the fiscal year 2021/22. Among these 6 investment
Despite the Covid-19 pandemic, projects, 4 investment projects
IBN managed to hold the 48th, are hydroelectric projects with an
49th, 50th, and 51st meetings, and indicative capacity of 195.8 MW.
18
Table 3: Major Decisions taken by IBN (2021/22)
• The meeting approved investment of Rs. 10.53 billion for

Jumkhola Hydroelectric Project and a capital increment of
Rs. 62.26 billion for Arun-3 Hydroelectric project.
• The meeting formed a committee to conduct a study on
time extension of the Financial Closure of Upper Karnali
Hydroelectric Project.
• The Board took the initiative to facilitate Samrat Cement
2021 October 9 and Upper Trishuli-1 HEP.
• The meeting formed a steering committee under the
48th Meeting convenorship of the Finance Minister and Vice-Chair of IBN,
Mr. Janardan Sharma ‘Prabhakar’, for the implementation of
the Strategic Plan and Business Plan of IBN.
Dabur Nepal Pvt. Ltd.
• The Board decided to issue a study licence for the proposed
Solar Energy Project (350 MW) at Silgadhi and Amargadhi.
• The meeting approved the Inception Report of Lower
Arun Hydroelectric Project and paved the way for OIBN to
2022 February 8 facilitate the DPR.
• The Board initiated to facilitate Arun-3 Hydroelectric Project
49th Meeting and acquire membership in the World Association of PPP
Unit and Professionals (WAPPP).

Suryatara Cement Project.
• The board decided to issue a licence for the study of the
Chemical Fertiliser Project in Nepal.
• The meeting approved the DPR of Lower Arun Hydroelectric
Project with conditions.
2022 April 10 • The meeting formed a committee to study the development
and investment model regarding Nijgadh International
50th Meeting Airport Project.

Tamakoshi-5 Hydroelectric Project and Rs. 9.47 billion for
Rahughat Hydroelectric Project.
• The Board recommended the GoN on the development and
implementation of West Seti and SR-6 projects through
negotiations and time extension of the Financial Closure of
2022 June 6 Upper Karnali Hydroelectric Project.
• The Board took the initiative to facilitate the Vehicle
51st Meeting Manufacturing and Assembly Project, Suryatara Cement,
and Dang Cement.
19
Table 4: Investment Approval in FY 2021/22
S.N. Date of Board Meeting Board Project Approved

Meeting Investment (In
billion Rs.)
1. 2021 October 9 48th Jumkhola Hydroelectric Project 10.53
2. 2021 October 9 48th Arun-3 Hydroelectric Project 62.26
3. 2022 February 8 49th Dabur Nepal Pvt. Ltd. 9.69
4. 2022 April 10 50th Suryatara Cement Project 14.28
5. 2022 June 6 51st Tamakoshi-5 Hydroelectric Project 16.46
6. 2022 June 6 51st Rahughat Hydroelectric Project 9.47
Total 122.69
A total of Rs. 122.69 billion was approved in FY 2021/22.
Figure 1: Investment Approval in FY 2021/22
20
MFC Meetings
Two meetings were
held in fiscal year
2021/22. Table 5
summarises the major
decisions taken by
MFC.
Table 5: MFC Meetings
The meeting took the initiative for the implementation of Arun-3

Hydroelectric Project and development of the Multi-Model Logistic
Park and Private Freight Terminal and Bulk Handling Project, Khaptad
2022 March 9 Integrated Tourism Project, Tamor Storage Hydroelectric Project,
Vehicle Manufacturing and Assembly Project, and Huaxin Cement
7th Meeting Project.
2022 April 24 The meeting took the initiative for the facilitation of the Vehicle
Manufacturing and Assembly Project, Upper Marsyangdi Hydroelectric
8th Meeting Project, and Suryatara Cement Project.
IBN and MFC Meetings The Decision Implementing

Tracking Tool has been developed
Management Tools to monitor the implementation of
OIBN has adopted a model for
the decisions taken by IBN. The
conceptualisation, sorting, prioritising,
tool shall be adopted to track the
and presenting a proposal to the Board
implementation of decisions taken
and MFC. All the pertinent issues will
by MFC as well.
be sorted and presented to the Board
or MFC under the scope of IBN or MFC.
21
IBN PROJECTS
IBN PROJECTS
250 MW Grid-connected Solar Pro
(290 MW)
Birethanti-M
Cable C
West Seti and SR6 Joint

Hydropower Project Samrat Cement
( 750 MW + 450 MW ) Project
Dang Cement
Project Hongshi - Shivam
Cement Project
Upper Karnali Hydropower Project
Vehicle Manufacturing and Kathm
( 900 MW)
Assembly Plant Project Road D
Huaxin Cement
Project
FIGURE 4: MAP OF IBN PROJECTS
Sudoorpas
Sudurpash
Province
22
oject
CHINA
Muktinath
Car Upper Marsyangdi-2 Hydropower Project
( 327 MW)
Grid-Connected Solar PV Project
( 295 MW) Upper Trishuli-1 Hydropower Project
( 216 MW)
Lower Arun Hydropower Project

(679 MW)
Arun-3 Hydropower Project Tamor Storage Hydropower Project

( 900 MW) (756 MW)
mandu Outer Ring

Development Project
Nijgadh
International Airport
China- Nepal Friendship
Industrial Park Project
Private Freight Terminal
and Bulk Handling Multi-Modal Logistic Park
schim
hchim Karnali Lumbini Gandaki Bagmati Madhesh
Province Province 5 Province Province 3 Province 2 Province 1
23
CHAPTER 3
OVERVIEW OF
ACTIVITIES 2021/22
24
3 OVERVIEW OF
ACTIVITIES 2021/22
The Strategic Plan of IBN has figured decisions taken by IBN and MFC and
functions, duties and power of IBN taken initiatives for ongoing projects
as four pillars of strategic goals. IBN that are facilitated and implemented
and MFC have taken many decisions by IBN, and also for investment
in terms of project development promotion, and institutional
and implementation, investment development.
promotion, institutional development
and coordination, cooperation This report presents all the activities
and partnership. Hence, OIBN has of OIBN according to the four pillars
made many efforts in implementing of the Strategic Plan.
25
ENERGY PROJECT UPDATES
IBN HAS APPROVED A TOTAL

OF RS. 725.17 BILLION IN THE
ENERGY SECTOR.
26
Project Development and Management

OIBN is involved in developing and managing various projects under its jurisdiction. The projects are in
different stages of the project cycle. The following projects are being developed and implemented by
OIBN under the decision and guidance of IBN.
27
ENERGY PROJECTS A. Projects Under Ideation

In FY 2021-22, OIBN prepared
Study Licence Approved Project Idea Note for the following
IBN has approved the issuance of
energy projects. These projects
the study licence to M/s Central
will proceed towards further
Electronics Limited for the study of
development process if it seems
the Solar Energy Project (350 MW) in
viable as per different analysis tools.
Sudurpashchim Province. MoU with
1. Pumped Storage Hydro Project
the proponent is being prepared in
2. Airport Solar Project
the process of issuing the licence.
(Kathmandu)
3. E-waste/Solar Panel Recycling
DPR Prepared Plant (Birgunj or similar industrial
SJVN India Limited has submitted
area)
the DPR report of Lower Arun HP
4. Energy from Waste (EfW)
Project and the Board has approved
Project
the report with conditions.
5. Green Hydrogen and Green
Ammonia Plant Project
Negotiation Committee Formed 6. 240 MW Large-Scale Hybrid
A committee was formed under the
System of Solar and Wind Farms
convenorship of the CEO to negotiate
Project (in Karnali & Gandaki
with NHPC Limited in the process of
Province)
development and implementation of
West Seti and SR-6 HP projects.
Time Extension of Financial Closure

GoN has extended the timeline of book
closure by 2 years with conditions for
GMR India Ltd., developer of Upper
Karnali HP Project (900 MW).
Table 6: Energy Projects under OIBN

S.N. Energy Projects Capacity Project Cost
1. West Seti and SR-6 Storage HP Project 750 MW+450 MW 1320 Million USD+800
Million USD
2. Tamor Storage HP Project 756 MW 1200 Million USD
3. Upper Marsyangdi-2 HP Project 327 MW 647.16 Million USD
4. Solar Energy Project (Doti and Dadeldhura) 350 MW Rs. 22,400 Million
5. Grid-Connected Solar PV Project 295 MW 200 Million USD
6. Lower Arun HP Project 679 MW 1300 Million USD
7. Solar Energy Project (Kohalpur and Banganga) 290 MW 189.50 Million USD
8. Arun-3 HP Project 900 MW Rs. 144 Billion
9. Upper Karnali HP Project 900 MW 1049.9 Million USD
10. Upper Trishuli-1 HP Project 216 MW 647.4 Million USD
28
29
PROJECTS UNDER INITIAL PHASE
1. West Seti Hydroelectric Project and SR-6 Hydroelectric Project
PPP-BOOT
DEVELOPMENT
MODALITY
750 MW+ USD 1320 MILLION+

450 MW USD 800 MILLION
PROJECT PROJECT
CAPACITY COST
DOTI, BAITADI,
DADELDHURA, NHPC LIMITED,
AND BAJHANG INDIA
PROJECT DEVELOPER
LOCATION COMPANY
30
Current Status
The negotiation committee
Timeline is in negotiation with the
applicant and a positive
result is likely to come.
The 35th meeting
of IBN decided
to showcase the
project at the NIS.
15 March
2019
As instructed by the 35th meeting
of IBN, the West Seti+SR-6
projects were showcased at Nepal
Investment Summit (NIS).
29-30 March
2019
The 44th meeting of IBN approved companies shortlisted for developing

the project: Nebras Power (with Qatar Holding LLC) through MATRIX
Enterprises Pvt. Ltd., Fuji Electric Co. Ltd. (Japan), General Electric (GE
Energy USA) and West Seti Hydro Pvt. Ltd. with SMEC (Australia).
23 September
2019
The 47th meeting of the IBN Board decided to cancel all the processes and procedures for
selecting the developer for this project.
The meeting, considering the shortlisted company failed to provide the necessary documents
for further process, formed a committee headed by the Vice-Chairman of the National Planning
Commission to recommend a development and investment framework for the project.
6 June 22June
2022 2021
The report prepared by the committee is presented to

IBN. And the 51st meeting of the Board recommends that
GoN develop the project through negotiations as per the
application submitted by NHPC Limited.
15 July
2022
The GoN formed a committee to

negotiate with the applicant, i.e.
NHPC Limited.
2. Tamor Storage Hydroelectric Project
PPP-BOOT
DEVELOPMENT
MODALITY

PROJECT PROJECT
CAPACITY COST
TAPLEJUNG,
PANCHTHAR, THE JV OF HIDCL
AND TEHRATHUM AND POWER CHINA
PROJECT DEVELOPER
LOCATION COMPANY
32
Current Status
Timeline The project is being
facilitated by OIBN.
The 35th meeting

of IBN decided
to showcase the
project at the NIS.
15 March
2019
As instructed by the 35th meeting
of IBN, the Tamor Storage HP
project was showcased at Nepal
29-30 March
2019
The 41st meeting of IBN approved the selection of a JV of

Power China and HIDCL as developers. The meeting also
formed a Technical Committee to identify the project boundary
and assess the impact on other irrigation projects in the area.
11 October
2019
An MoU was signed
between the JV of Power
The IBN signed MoU 13 October
China and HIDCL to
with a consortium of develop the project. 2019
Power China and HIDCL.
19 January
2020
A Technical Committee Report was endorsed by the 47th meeting of IBN.

The 47th meeting of the IBN Board instructed the Ministry of Energy, Water
Resources and Irrigation to sort out the legal complications pointed out by
the Technical Committee for issuing a survey licence to the developer.
22June 9 March
2021 2022
The Monitoring and Facilitation Committee

recommended submitting a proposal regarding
issuing a survey licence to the next IBN meeting
after an SPV is registered by the developer.
3. Upper Marsyangdi-2 Hydroelectric Project
PPP-BOOT
DEVELOPMENT
MODALITY
327 MW USD 647.16 MILLION

PROJECT PROJECT
CAPACITY COST
HIMTAL HYDROPOWER COMPANY
LAMJUNG AND PVT. LTD. (JV OF BUTWAL POWER

COMPANY LTD., S.C.I.G. NEPAL,
MANANG (GANDAKI SCIG INTERNATIONAL, XINGCHENG
PROVINCE) INTERNATIONAL, AND QYEC

INTERNATIONAL)
PROJECT DEVELOPER
LOCATION COMPANY
34
Current Status
As per the decision taken
by the M&F Committee,
OIBN and the developer are
Timeline exchanging the draft MoU for
the study of the project and
OIBN is providing necessary
DoED issued a facilitation to
survey licence for the developer.
the 600 MW export
project.
30 November
2009
The 5th Board

meeting brought
this project under
IBN.
26 May
2012
The 44th meeting of IBN
approved an investment of 19 May
Rs. 78.65 billion (USD 647.16
million). 2021
24 April
2022
The Monitoring and Facilitation (M&F) Committee
decided to enter into an MoU with the developer
regarding the issuance of study and survey licences
and recommended necessary facilitation.
4. Solar Energy Project (350 MW), Doti and Dadeldhura
PPP-BOOT
DEVELOPMENT
MODALITY
350 MW RS. 22.4 BILLION

PROJECT PROJECT
CAPACITY COST
DIPAYAL-SILGADHI OF CENTRAL
DOTI AND AMARGADHI
OF DADELDHURA
ELECTRONICS LTD.,
(SUDURPASHCHIM PROVINCE) INDIA
PROJECT DEVELOPER
LOCATION COMPANY
36
Current Status
A draft MoU regarding
Timeline issuing the survey
licence is shared with the
developer for comments.
The developer has
registered an unsolicited
proposal for project
development at OIBN.
1 December
2020
An Evaluation
Committee was formed
for the evaluation of the
project.
13 April
2021
A Technical Sub-
Committee was formed
for the evaluation of the
project.
13 April
2021
The Evaluation Committee

acknowledged the report
presented by the sub-committee.
9 July
2021
8 February
2022
The 49th meeting of IBN decided

to issue a study licence for the
project.
5. Grid-Connected Solar PV Plus Battery Project
PPP-BOOT
DEVELOPMENT
MODALITY

PROJECT PROJECT
CAPACITY COST
LO MANTHANG (MUSTANG) DOLMA FUND

OF GANDAKI PROVINCE
AND CHILIME (RASUWA) OF
MANAGEMENT,
BAGMATI PROVINCE MAURITIUS
PROJECT DEVELOPER
LOCATION COMPANY
38
Current Status
Timeline The approval of new
project sites is under
consideration of IBN.
The 31st meeting of IBN

approved FDI worth
USD 200 million.
17 July
2018
Survey
Licence
issued.
4 April
2019
Suspension of the Survey

Licence of Lo Manthang
and the developer asked
for an alternate site.
2 August
2019
The developer applied for

Dang and Kanchanpur as
alternate sites.
11 April
2020
The sub-committee
submitted a report.
28 December March
2021 2022
OIBN formed a Technical Sub-

Committee to study the technical
and legal aspects of the project.
PROJECT UNDER STUDY PHASE
6. Lower Arun Hydroelectric Project
PPP-BOOT
DEVELOPMENT
MODALITY

PROJECT PROJECT
CAPACITY COST
SANKHUWASABHA SJVN-ARUN-3 POWER

AND BHOJPUR OF DEVELOPMENT
PROVINCE 1. COMPANY
PROJECT DEVELOPER
LOCATION COMPANY
40
Current Status
Ministry of Forests and Environment
granted permission to conduct
Supplementary EIA of the project.
Supplementary EIA is in process.
Timeline OIBN appointed panel of sectoral

experts to review the DPR. Panel
of experts visited project site and
exchanged their views on DPR with
the developer in the presence of
The 35th meeting of IBN OIBN. OIBN is facilitating other
decided to showcase the areas for the project.
project at NIS.
15 March
2019
As instructed by the 35th
meeting of IBN, Lower Arun HP
project was showcased at Nepal
29-30 March
2019
formed a Proposal Evaluation
Committee led by the Honorable
Minister for Energy, Water
Resources and Irrigation.
23 September 29 January
2019 2021
The 47th IBN meeting The 46th IBN meeting decided

approved the draft of the to approve the proposal of SJVN
MoU to be signed between India Ltd. to develop the project
IBN and SJVN India Ltd. under the BOOT model.
22 June
2021

approved the DPR with
conditions to incorporate the
comments of experts.
11 July 31 March
2021 2022
The IBN and SJVN India Ltd. signed
the MoU to conduct a detailed
project study (DPS) and prepare
the DPR of the project.
7. Solar Energy Project (250 MW) at Kohalpur and Banganga
PPP-BOOT
DEVELOPMENT
MODALITY
250 MWP+40 MW USD 189.5 MILLION

PROJECT PROJECT
CAPACITY COST
KOHALPUR (BANKE) RISEN CLEAN

AND BANGANGA ENERGY NEPAL
(KAPILVASTU) OF PVT. LTD.
LUMBINI PROVINCE
PROJECT DEVELOPER
LOCATION COMPANY
42
Current Status
Timeline The developer is preparing the
DFSR of the project
The 44th meeting of the IBN approved Risen

Energy Singapore Pte. Ltd. for conducting a
study to develop and operate the project in
Kohalpur and Banganga.
19 June
2020
MoU signed between
IBN and the developer
company for a
feasibility study.
26 January
2021
The developer
submitted an
inception report
to OIBN.
24 October
2021
The OIBN approved the

developer to proceed with
the DFSR of the project.
20 December
2021
The OIBN approved the

developer to proceed with
the DFSR of the project.
31 December 29 March
2021 2022
The developer submitted

a pre-feasibility study
report to OIBN.
PROJECT UNDER IMPLEMENTATION PHASE

8. Arun-3 Hydroeclectric Project
PPP-BOOT
DEVELOPMENT
MODALITY
900 MW RS.114 BILLION

PROJECT PROJECT
CAPACITY COST
SJVN ARUN-3 POWER

SANKHUWASABHA DEVELOPMENT
OF PROVINCE 1 COMPANY (SAPDC)
PROJECT DEVELOPER
LOCATION COMPANY
44
Current Status
1. Construction activities at the
dam site, powerhouse, and tunnel
are at full capacity.
2. Revised Environment
Timeline Management Plan (EMP) of
Supplementary EIA is in the
approval process.
SJVN and then Arun-3 HEP was brought 3. 55.4% of physical work
under the ambit of IBN as completed; Generation side (Civil:
Ministry of Water
per the IBN Act, 2011 from 49.7%, Hydromechanical: 2.3%,
Resources/GoN
then Ministry of Water Electromechanical: 3.4%).
entered into an
MoU. Resources.
2 March 26 May
2008 2012
Project Development Investment

Agreement (PDA) was signed approval of
between IBN and SAPDC. Rs. 85 billion
25 November 28 September
2014 2012
Approval of the IBN decides to form the

Resettlement Plan (RAP) of Project Monitoring Unit The IBN issues
the generation component for Arun-3 HEP as per Generation Licence
of the project by IBN. the PDA. to SAPDC.
20 February 28 April 3 May
2017 2018 2018
Nepal Employment NIBP ( Nepal Prime Ministers of Nepal and India

and Skills Training Industrial Benefit jointly lay the foundation stone for
Plan approved Plan) approved the construction of structures in the
generation component of the project.
July 29 July 22 11 May
2018 2018 2018
Local Benefit Disaster

River Diversion
July 30 Sharing Plan Management Plan
works
2018 approved. approved.
completed
2 March July 15 06 February October 29 Feb 01

2019 2019 2020 2021 2022
SAPDC declared the SAPDC entered into financial Additional

Common Facility Agreement closure agreements with several investment
(CFA) for the project. Nepali and foreign banks. approval of Rs.
62.26 billion
TRANSMISSION COMPONENT
597 NOS. (NEPAL PORTION)

115 NOS. (INDIAN PORTION)
NUMBER OF
TOWERS
217 KM (DIDING,
SANKHUWASABHA TO
BATNAHA) 400 KV
35.8 KM (BATNAHA TO DOUBLE
SITAMARI, INDIA) CIRCUIT
TOTAL
LENGTH CAPACITY
7 DISTRICTS (SANKHUWASABHA,
KHOTANG, BHOJPUR, UDAYAPUR,
SJVN ARUN-3 POWER
SIRAHA, MAHOTTARI AND DEVELOPMENT
DHANUSHA) COMPANY (SAPDC)
22 LOCAL LEVELS
DEVELOPER
PROJECT COMPANY
LOCATION
46
Timeline
Survey Licence for

Transmission Line
was issued
May 22
2009
PDA signed
between
OIBN and
SAPDC
November 25
2014
IEE of the
Transmission Line
was approved.
December 2
2016
PowerGrid Corporation of
India engaged as Project
Management Consultant.
May 28
2018
A transmission
licence was issued
by DoED
February 08
2019
Current Status
1. Revised IEE ongoing and under 6. Land marking has been

finalisation. 12.35% of physical completed and is under approval
work completed for transmission process at Survey Department
component. 7. 12.4 % of work is completed in
2. Check survey has been the transmission line component.
completed 8. Works related to the
3. Disclosure of Resettlement construction of the tower pad,
Action Plan (RAP) along tower erection, and conductor
with the Financial Awareness stringing are in full swing.
Programme for the recipients of 9. OIBN is coordinating and
compensation in Dhanusha and facilitating the smooth
Mahottari districts have been implementation of the project.
completed with the support of 10. The project is expected to
OIBN. be completed by 2023. The
4. Compensation Determination transmission line will be
Committee (CDC) has decided completed by then.
on compensation for land 11. Financial awareness programmes
acquisition for 300 tower pads for recipients of compensation
out of 597 towers. Compensation are being conducted.
for acquired land for tower foot 12. OIBN which is fully focused on
is being distributed. facilitation and coordination for
5. Rate determination for RoW the construction of transmission
has been finalised in Siraha and lines, organised several high-
is near completion in Mahottari level meetings (with the Chief
district. Compensation for RoW Secretary as Chief Guest),
and other property is being and conducted stakeholder
distributed. engagement programmes
rigorously.
48
9. Upper Karnali Hydroelectric Project
PPP-BOOT
DEVELOPMENT
MODALITY

PROJECT PROJECT
CAPACITY COST
DAILEKH, ACHHAM 1. GMR UPPER KARNALI

AND SURKHET OF HYDROPOWER LIMITED
SUDURPASHCHIM PROVINCE 2. KARNALI TRANSMISSION
COMPANY PVT. LIMITED
PROJECT DEVELOPER
LOCATION COMPANY
49
Current Status
The developer is in the
Timeline process to meet the
condition laid down
in the negotiation
process.
MoU signed with GMR
under International
Competitive Bidding (ICB)
24 January
2008
Survey Licence issued by the MoU signed with NEA

Department of Electricity for an equity share in
Development (DoED) the project.
21 May 12 February
2008 2008
PDA signed between IBN
(Government of Nepal) and project
developer (GMR Upper Karnali
Hydropower Ltd. and Karnali
Transmission Company Pvt. Ltd.)
19 September 9 October
2014 2021
The 50th meeting of IBN The 48th meeting of IBN formed

formed a team to negotiate a committee to study on time
with the developer on time extension of Financial Closure of
extension of Financial Closure. Upper Karnali HP Project.
10 April
2022
GoN has approved the

extension of the deadline
for Financial Closure for the
next two years.
6 June 15 July
2022 2022
The 51st meeting of IBN recommended
the GoN for an extension of the
deadline for Financial Closure for the
next two years.
50
10. Upper Trishuli-1 Hydroelectric Project
PPP-BOOT
DEVELOPMENT
MODALITY

PROJECT PROJECT
CAPACITY COST
NEPAL WATER AND ENERGY

UTTAR GAYA OF DEVELOPMENT COMPANY
RASUWA, BAGMATI (P.) LTD. (NWEDC)
PROVINCE
PROJECT DEVELOPER
LOCATION COMPANY
51
Current Status
OIBN is facilitating the project.
The developer is in the process
of mobilising resources in
Timeline pre-construction activities.

The developer is in the process
of fulfilling its condition
precedent to Financial Closure
and shall achieve it within the
stipulated period.
Nepal Water and Energy Development
Company (P.) Ltd. (NWEDC) registered
at the Department of Industry (DoI) and
acquired the survey licence from DoED.
25 July
2011
PPA signed PDA signed between

between NEA and NWEDC and then
NWEDC. Ministry of Energy.
28 January 29 December
2018 2016
A lending
agreement was
signed with
international
lenders.
28 October 29 December
2019 2019
The 42nd meeting of

IBN approved a total
investment worth USD
674.4 million.
The Financial Closure date

for the project extended
to November 7, 2022, by
DOED.
9 March 25 October
2021 2021
The Financial Closure date
for the project has been
extended to January 5,
52 2022, by DOED.
53
NON-ENERGY PROJECTS
MoU Signed for Preliminary Survey
An MoU was signed between OIBN and JICA for the development of Instant Digital Payment
Platform Project. preliminary survey of the project on 23 June 2022.
Table 7: Non-Energy Projects Under OIBN
S.N. Project
1 Khaptad Integrated Tourism Project
2 Instant Digital Payment Platform Project
3 Chemical Fertiliser Plant Project
4 Nijgadh International Airport Project
5 Kathmandu Bus Rapid Transit Project
6 Suryatara Cement Project
7 Samrat Cement Project
8 Kathmandu Outer Ring Road Development Project
9 Birethanti-Muktinath Cable Car Project
10 China-Nepal Friendship Industrial Park Project (Damak)
11 Multi-model Logistic Park (Biratnagar)
12 Private Freight Terminal and Bulk Handling Project (Birgunj and Bhairahawa)
13 Dang Cement Project
14 Hongshi Shivam Cement Project
15 Huaxin Cement Narayani Project
16 Vehicle Manufacturing and Assembly Plant Project
17 Waste to Energy Project (Dharan)
54
A. Ideation of the B. Pre-Feasibility Study

Project of Projects
OIBN has prepared the Project Idea OIBN managed the pre-feasibility
Note for the following non-energy study of the following projects:
projects. These projects will proceed (Issue 52)
forward for the further development
process if they seem viable as per 1. Tal Talai Multipurpose Project,
different analysis processes. Itahari
2. Janaki Heritage Hotel and
1. Karnali Public Transport Project Cultural Village, Dhanusha
2. Fast-charging station for 3. Film City, Dolakha
e-mobility 4. International Convention Centre,
3. IT park at Godavari Municipality, Pokhara
Sudurpashchim 5. Gautam Buddha Maternity
4. Chandragiri-Chitlang-Palung- Hospital, Rupandehi
Chitwan Expressway 6. Integrated Herbal Processing,
5. Chitwan-Rampur-Butwal Karnali Province
Expressway 7. Interstate and Intrastate Public
6. Chitwan-Rampur-Pokhara Transportation, Sudurpashchim
Expressway Province
7. Brownfieldeld investment project
8. Drinking water (export quality)
processing plant
9. Amusement Park project in
Chitwan/Hetauda
10. Public transport project in
Province 2
11. Greater Lumbini Tourist Circuit
Transportation Project
12. Transit Hub in Hetauda
13. Autoland in Bharatpur/KTM
14. West Seti Town Planning Project
55
C. Project in the Initial Phase
1. Khaptad Integrated Tourism Project
PPP-BOOT TOURISM
DEVELOPMENT PROJECT
MODALITY SECTOR
NA NA
PROJECT PROJECT
CAPACITY COST
BAJURA, ACHHAM,
BAJHANG, AND DOTI OF NA
SUDURPASHCHIM PROVINCE
PROJECT DEVELOPER
LOCATION COMPANY
56
Current Status
The Ministry of Forests and Environment
had concerns about this project as some
of the works listed in the Annex of the
ToR are against the provision of prevailing
Timeline laws. OIBN received the comments from
the Ministry of Forests and Environment
on 2079/04/31 and they have been
already incorporated in the ToR and the
The 35th meeting revised ToR has been shared with the
of IBN decided to senior management team.
showcase the project
at the NIS in 2019.
15 March
2019
The project
is showcased
during
NIS-2019.
29-30 March
2019
The GoN announced the

development of the project as a
tourist destination and sanctioned
the budget accordingly.
29 May
2021
Draft ToR for the pre-feasibility of the project is shared with

all concerned GoN agencies for their comments and feedback.
After the finalisation of ToR, accommodating the comments and
feedback received, a pre-feasibility study will be conducted.
19 July
2021
2. Instant Digital Payment Platform Project
(NOW IN STUDY FINANCE/FINTECH

PHASE)
PROJECT
DEVELOPMENT SECTOR
MODALITY
NA NA
PROJECT PROJECT
CAPACITY COST
JAPAN INTERNATIONAL
COOPERATION AGENCY
ALL NEPAL (JICA)
PROJECT DEVELOPER
LOCATION COMPANY
58
Current Status
JICA is preparing an inception report of
the project.
Timeline
JICA applied for the

preliminary survey of
the project.
An MoU was signed

between OIBN and
JICA for the preliminary
survey of the project.
23 June
2022
3. Chemical Fertiliser Plant Project
PPP AGRICULTURAL
INFRASTRUCTURE
DEVELOPMENT PROJECT
MODALITY SECTOR
701250 MTPA USD 714 MILLION

PROJECT PROJECT
CAPACITY COST
BARDHAGHAT DIAG INDUSTRIES

NAWALPARASI GMBH, GERMANY
DISTRICT
PROJECT DEVELOPER
LOCATION COMPANY
60
Current Status
OIBN is in the process of
Timeline signing an MoU with the
proponent for the study of
the project.
DIAG Industries GmbH
Germany submitted an
unsolicited proposal to
develop the project.
18 June
2020
The 50th meeting of IBN decided

to issue a licence for study on the
Chemical Fertiliser Project in Nepal.
10 April
2022
4. Nijgadh International Airport Project
PPP AVIATION/
TOURISM
DEVELOPMENT PROJECT
MODALITY SECTOR
4 ‘F’ CATEGORY
AIRPORT USD 3.45 BILLION
PROJECT PROJECT
CAPACITY COST
NIJGADH, BARA OF
MADHESH PROVINCE NA
PROJECT DEVELOPER
LOCATION COMPANY
62
Current Status
The committee is studying
Timeline the development and
investment model of the
project.
The 35th meeting
of IBN decided to
at the NIS in 2019.
15 March
2019
The project is
showcased at
NIS-2019.
29-30 March
2019
The 40th meeting of IBN directed OIBN to issue Pre-bid

an RFP to Zurich Airport International which meeting held.
had been selected among the applicants for the
development of the project.
23 September 15 September
2019 2020
RFP submission
deadline.
30 September
2020
As the only shortlisted company did not submit the proposal in the stipulated time, the
50th meeting of IBN cancelled all the processes and procedures followed in line with
the development of the project and formed a committee to study the development and
investment model regarding the Nijgadh International Airport Project.
10 April
2022
5. Kathmandu Bus Rapid Transit Project
PPP TRANSPORT
DEVELOPMENT PROJECT
MODALITY SECTOR
240,000 PPD US$ 153.32

MILLION (2019)
PROJECT PROJECT
CAPACITY COST
KATHMANDU
RING ROAD NA
PROJECT DEVELOPER
LOCATION COMPANY
64
Current Status
The IBN is planning to call for
Timeline EOI for the feasibility study of
this project.
The 35th meeting

of IBN decided to
at the NIS in 2019.
15 March
2019
The project is
showcased at
NIS-2019.
29-30 March
2019
6. Suryatara Cement Project
PRIVATE MINE AND

INVESTMENT MINERALS
DEVELOPMENT PROJECT
MODALITY SECTOR
2995 MTPD RS. 14.28 BILLION

PROJECT PROJECT
CAPACITY COST
SURKHET DISTRICT,
CHAUKUNE RURAL SURYATARA CEMENT
MUNICIPALITY INDUSTRY PVT. LTD.
PROJECT INVESTOR
LOCATION
66
Current Status
Timeline The project is being
facilitated by OIBN.
The project and

investment are
approved by IBN.
10 April
2022
The 51st meeting of the

Board approved the
proposal for a change in the
location of the project.
6 June
2022
7. Samrat Cement Project
PRIVATE MINE AND

INVESTMENT MINERALS
DEVELOPMENT PROJECT
MODALITY SECTOR
4500 TONS
PER DAY RS. 15.0 BILLION
PROJECT PROJECT
CAPACITY COST
DANG DISTRICT, SAMRAT CEMENT

LUMBINI PROVINCE COMPANY PVT. LTD.
PROJECT INVESTOR
LOCATION
68
Current Status
OIBN has sent letters to
Samrat inviting them to
Timeline negotiate for MoU for PIA
according to the decision
of the Board but Samrat
Company has not responded.
Registration.
20 March
2013
Industry
Registration
6 May
2014
Mine Exploration
Licence Issued
26 July
2019
The 44th meeting of the Board
approved the investment worth
Rs. 15,068 million.
19 June
2020
8. Kathmandu Outer Ring Road Development Project
PUBLIC-PRIVATE URBAN
PARTNERSHIP (PPP) INFRASTRUCTURE/
DEVELOPMENT TRANSPORT
MODALITY PROJECT
SECTOR
50-METRE WIDE ROAD

AND 72 KM LONG USD 1871 MILLION
OUTER RING ROAD
PROJECT
PROJECT COST
CAPACITY
KATHMANDU, LALITPUR, CHINA

AND BHAKTAPUR OF COMMUNICATION
BAGMATI PROVINCE CONSTRUCTION CO.
PROJECT DEVELOPER
LOCATION COMPANY
70
Current Status
Request for proposal (RFP) has
been delayed due to a lack of
clarity on the alignment of the
ORR. IBN has requested the
Timeline Kathmandu Valley Development
Authority (KVDA) for clarity on
the road’s alignment.
The 35th meeting of IBN The RFP will be issued upon

decided to showcase the finalisation of the ORR
project at the NIS in 2019. alignment by KVDA.
15 March
2019
The project
is showcased
at NIS-2019.
29-30 March
2019

shortlisted the developer (China
Communication Construction Co.)
23 September
2019
D. Project Under Study Phase
9. Muktinath Cable Car Project
PPP/PRIVATE
INVESTMENT TRANSPORT AND
DEVELOPMENT TOURISM
MODALITY PROJECT
SECTOR
BIRETHANTI TO
USD 439.34
MUKTINATH (80.152 KM
MILLION (RS.
IN LENGTH)
53,182.49 MILLION)
PROJECT PROJECT
CAPACITY COST
KASKI, MYAGDI, AND

MUSTANG (GANDAKI MUKTINATH DARSHAN
PROVINCE) PVT. LTD.
PROJECT DEVELOPER
LOCATION COMPANY
72
Current Status
OIBN is working on the scoping and
Timeline ToR for the EIA of the project.
Offered/Applied for
Cable Car development
and operation.
22 November
2017
The 30th
Board meeting
approved the
project.
28 April
2018
MoU signed
between
IBN and the
developer.
12 September
2018
Inception Report
Presented
21 December
2018
DPR is received
and is under
evaluation
process.
29 December
2020
10. China-Nepal Friendship Industrial Park Project
PUBLIC-PRIVATE
PARTNERSHIP (PPP) INDUSTRIAL
DEVELOPMENT INFRASTRUCTURE
MODALITY PROJECT
SECTOR
USD 586.09
MILLION (RS. 64.90
PROJECT BILLION)
CAPACITY PROJECT
COST
JING-PING JOINT CREATION

CONSTRUCTION PROJECT
DEVELOPMENT CO. LTD. &
JHAPA (PROVINCE 1) DAMAK CLEAN INDUSTRIAL
PARK LTD. (JPJCCPD&DCIP)
PROJECT DEVELOPER
LOCATION COMPANY
74
Current Status
Timeline PDA is under drafting process.
Investment approved
by the 39th.meeting of
the Board
2 August
2019
MoU signed
for the
development of
the project.
3 October
2019
Submission
of final DPR
14 December
2020
The 47th meeting of the

Board approved the DPR
22 May
2021
The foundation stone laid
by then Rt. Honorable
Prime Minister of Nepal.
28 May
2021
11. Multimodel Logistic Park Project, Biratnagar
PRIVATE
INVESTMENT LOGISTIC
MODALITY PROJECT
SECTOR
14,400 TEU PER

ANNUM
RS. 7.18 BILLION
PROJECT
CAPACITY PROJECT
COST
A CONSORTIUM OF
CG LOGISTICS AND
GALAXY TERMINAL LLC
BIRATNAGAR (REPRESENTATION OF
(PROVINCE 1) SHARAF GROUP)
PROJECT DEVELOPER
LOCATION COMPANY
76
Current Status
The DFSR is under
evaluation process.
Timeline OIBN is coordinating with

the Ministry of Industry,
Commerce and Supplies
for the project’s smooth
The investor submitted development.
the proposal.
12 May
2019
approved the project
and granted permission
for carrying out a
feasibility study.
2 August
2019
An MoU was signed

between IBN and
the consortium of
investors.
15 December
2019
The investor
submitted the
DFSR.
15 December
2020
12. Private Terminal and Bulk Handling Project, Birgunj and Bhairahawa
PRIVATE
INVESTMENT LOGISTIC
MODALITY PROJECT
SECTOR
4.55 MILLION METRIC

TONS PER ANNUM
RS. 11.5 BILLION
PROJECT
CAPACITY PROJECT
COST
THE CONSORTIUM OF
FLASH FREIGHT LOGISTICS
BIRGUNJ AND BHAIRAHAWA & INTERNATIONAL CARGO
(MADHESH AND LUMBINI TERMINAL INFRASTRUCTURE
PROVINCE) PVT. LTD.
PROJECT DEVELOPER
LOCATION COMPANY
78
Current Status
The evaluation of DPR is
under process.
Timeline OIBN is coordinating with

the Ministry of Industry,
Commerce and Supplies
for the project’s smooth
The investor submitted development.
the proposal.
29 April
2019
approved the company’s
request to conduct a
feasibility study.
2 May
2019
An MoU was signed

between IBN and
the consortium of
investors.
17 July
2019
The investor
submitted the
DFSR.
15 December
2020
13. Dang Cement Project
PRIVATE
INVESTMENT MINE AND
DEVELOPMENT MINERALS
MODALITY PROJECT
SECTOR
6,000 TONS
PER DAY
RS. 32.5 BILLION
PROJECT
CAPACITY PROJECT
COST
S.H. INVESTMENT PVT.

LTD., MR. KRISHNA MURARI
BABAI RURAL AMATYA, AND MR. SURYA
MUNICIPALITY, DANG BAHADUR K.C.
LUMBINI PROVINCE
PROJECT DEVELOPER
LOCATION COMPANY
80
Current Status
The 52nd Board meeting
Timeline decided to extend the

deadline for PIA with the
company for 1 more year
effective from 2079/03/5 B.S.
Company
Registration
27 May
2003
Industry
Registration
27 March
2005
The 44th meeting of the

IBN Board approved the
investment worth
Rs. 32,500 million.
19 June
2020
The 47th meeting

decided to extend the
deadline for PIA with the
company for 1 more year.
22 June
2021
The 51st meeting of
IBN approved the
revised share purchase
agreement.
6 June
2022
E. Project Under Implementation Phase
14. Hongshi Shivam Cement Project
PRIVATE
INVESTMENT MINE AND
MODALITY PROJECT
SECTOR
1. FIRST PHASE:
6,000 TONS PER DAY
2. SECOND PHASE: USD 359.18 MILLION
12,000 TONS PER DAY
PROJECT PROJECT
CAPACITY COST
FACTORY: BINAYI TRIBENI

RURAL MUNICIPALITY, 1. HONG KONG RED LION
NAWALPARASI EAST CEMENT NO. 3 LTD., CHINA
MINE SITE: NISDI RURAL
2. SHIVAM HOLDING PVT. LTD.
MUNICIPALITY, PALPA
LUMBINI PROVINCE CO., NEPAL
PROJECT DEVELOPER
LOCATION COMPANY
82
Current Status
OIBN is facilitating the
Timeline project in accessing work

permits, visas for foreign
workers, and remittance
facilities for technology
transfer.
The 18th IBN Board
meeting approved
the investment for
the project.
28 July
2015
Company
Registration
23 September
2015
Industry Land ceiling

Registration waiver approved.
14 December 12 January
2015 2017
Project Investment
Agreement (PIA) signed
between IBN and the
investor company.
3 September
2017
Production in the first The first phase is in
phase commences in full operation and the plant
capacity. construction of the second
phase is being done.
19 November July end
2018 2022
15. Huaxin Cement Narayani Project
PRIVATE
INVESTMENT MINE AND
MODALITY PROJECT
SECTOR
3,000 METRIC
TONS PER DAY
USD 140 MILLION
PROJECT PROJECT
CAPACITY COST
FACTORY: TALTI, 1. HUAXIN CENTRAL ASIA

BENIGHAT-RORANG
INVESTMENT
MUNICIPALITY, DHADING
MINE SITE: MAHADEVSTHAN (WUHAN) CO. LTD.
MUNICIPALITY, DHADING 2. VAIDYA INVESTMENT
BAGMATI PROVINCE PVT. LTD.
PROJECT DEVELOPER
LOCATION COMPANY
84
85
Current Status
OIBN is facilitating the project for
smooth implementation and the
company will soon get its quality
approved from Nepal Bureau of
Timeline
Huaxin Cement Standards and Metrology leading to
the completion of its COD.
The 19th IBN Board

meeting approved
Narayani Project
Facilitation of visa recommendations
for the company is being done by
OIBN.
FDI worth USD 140
million.
26 August
2015
Company
Registration
20 January
2016
Industry Project Investment

Registration Agreement (PIA) signed
between IBN and the
investor company.
15 December 20 June
2015 2018
Amendment
Construction
Agreement No.1 to
commenced
PIA was signed.
31 January 17 December
2019 2018
The IEE of the

project was
approved.
21 February
2019
86
16. Vehicle Manufacturing and Assembly Plant Project
MOTREX CO., LTD;

SOUTH KOREA
(MOTREX MOTOR MANUFACTURE
COMPANY PVT. LTD) MAX 50,000
UNITS PER ANNUM
INVESTOR
CAPACITY
VEHICLE
MANUFACTURING
AND ASSEMBLY
PLANT IN NEPAL
NAME OF THE ELECTRIC VEHICLE
PROJECT SEGMENT
PROPOSED
VEHICLE
SEGMENT
DIRECT: 5000+,
INDIRECT: 50,000
IN 30 YEARS, 600+
LOCAL MANPOWER
TRAINED BY 2026 MOTIPUR
EMPLOYMENT INDUSTRIAL
GENERATION PARK (SECTOR
A), RUPANDEHI –
LUMBINI PROVINCE
PROJECT SITE
NPR 8.03 BILLION

100% (FIXED ASSET: NPR 6.03
TECHNOLOGY BILLION, WORKING
TRANSFER CAPITAL: NPR 2
MILLION)
ESTIMATED
PROJECT COST
PRODUCTION FROM TURBO MOTORS

YEAR 1 (1000 UNITS) (NPR 1.4544 BILLION;
EV PRODUCTION HYUNDAI, KIA 36% STAKE)
TIMELINE PROPOSED PROPOSED
BRAND LOCAL PARTNER
Current Status
A PIA negotiation meeting was held
Timeline with the investor along with the
relevant Government entity to finalise
the fiscal and non-fiscal incentive
provisions of the PIA.
35th Board meeting approved an
investment of Rs. 10.54 billion and
mandated for preparation of a
Project Investment Agreement.
15 March
2019
The 46th IBN Board meeting decided to activate the PIA negotiation
committee and negotiate on fiscal incentives as requested by the investor
in collaboration with the Ministry of Finance to make the project conducive
to the national economy and make the project environmentally friendly.
29 January
2021
The 51st IBN Board meeting instructed OIBN to carry out negotiations with
the investor on the condition that the project shall produce only electric
vehicles. The meeting delegated power to M&F Committee for necessary
decisions in case of any facilitation required.
6 June
2022
88
17. Waste to Energy Project
PUBLIC PRIVATE
PARTNERSHIP (PPP) RECYCLING/WASTE
DEVELOPMENT MANAGEMENT
MODALITY PROJECT
SECTOR
30 TONS RS. 248.5 MILLION

PER DAY
PROJECT PROJECT
CAPACITY COST
DHARAN, VENTURE WASTE

SUNSARI DISTRICT TO ENERGY PVT.
(PROVINCE 1) LTD.
PROJECT DEVELOPER
LOCATION COMPANY
89
Timeline Current Status

The prooject is in operation.
Investment approved
by the 27th IBN
Board meeting.
2 August
2017
Registration at
the Department
of Industry.
30 November
2017
Construction
Started.
90
Investment Promotion Organised and Participated

Investment promotion is one of in Promotional Activities
the objectives of IBN. The IBN is • IBN CEO, Mr. Sushil Bhatta,
responsible for developing Nepal addressed the "Invest in Emerging
into a destination for foreign Nepal’ conference organised
investment and securing an by the Embassy of Nepal in
investment-friendly climate. It has the United Kingdom targeting
the mandate to maintain effective prospective foreign investors. Mr.
coordination and collaboration Bhatta emphasised the reform
with Nepali missions abroad for initiatives taken by the GoN, the
investment promotion. facilitation provided by OIBN, and
the investment opportunities in
In line with the responsibilities of the Nepal. During the visit to the UK, Mr.
IBN, the OIBN has conducted several Bhatta and the Senior Management
investment promotional activities Team (SMT) visited the Department
within and outside the country. for International Trade, UK Export
The OIBN has coordinated and Finance, and Private Infrastructure
partnered with different agencies Development Group (PIDG) and
and conducted a series of extensive discussed different dimensions
meetings and discussions. of investment opportunities in
Nepal. Likewise, the IBN and British
The whole investment promotion International Investment signed an
activity can be classified as follows: MoU to facilitate investments in large
infrastructure projects in Nepal.
91
• IBN CEO, Mr. Sushil Bhatta,

participated in a talk programme
titled 'Promoting Foreign
Investment in Nepal’ organised
by MAN and spoke on the current
status of FDI in Nepal, government
initiatives on legal and policy
reforms, and the role of IBN in
promoting FDI and facilitating
development and implementation
of infrastructure projects.
interacted with Nepal-based
• OIBN marked IBN’s 10th
international media personnel
anniversary as a mini investment
and put forward the investment
summit in the presence of Rt.
gap issues for infrastructure
Hon’ble Prime Minister and
projects and the need for
Chairperson of IBN, Mr. Sher
foreign investment in Nepal. He
Bahadur Deuba. During the
highlighted the role of OIBN,
programme, ministers of different
reforms made in the past few
ministries, high-ranking officials
years, investment climate in
of the GoN, ambassadors, and
Nepal, and other pertinent issues
representatives of different
related to investment.
foreign diplomatic missions in
• IBN-NCC PHDCCI web conference
Nepal, business community, and
on ‘Nepal-India Investment
investors actively participated in
and Development Partnership
the programme.
Summit 2021’ was held with the
• Two thematic sessions, namely,
participation of key policymakers
'Development of Sustainable
and other key stakeholders of
Infrastructure in Nepal', and
bilateral economic cooperation
'Developing and Managing PPP for
between India and Nepal. The
Nepal’s Economic Development',
conference concluded with
were conducted on the occasion.
92
the realisation of the need for Golchha, inked the MoU.

sustained collaboration between • IBN CEO, Mr. Sushil Bhatta,
Nepal and India and relevant delivered the keynote speech
institutions for partnership, as Chief Guest at the Nepal-
investment, and development. India Business Expo & Summit
• IBN and FNCCI held an and stressed the importance
interaction on cooperation and of Business to Business (B2B)
collaboration on investment collaboration and partnership
promotion in Nepal. During between Nepal and India for
the interaction, IBN CEO Mr. investment promotion.
Sushil Bhatta, FNCCI President • A workshop on investment
Mr. Shekhar Golchha, and Joint promotion was organised by the
Secretary of the Ministry of Commercial Law Development
Industry, Commerce and Supplies Programme for OIBN staff. IBN
Mr. Narayan Paudel expressed CEO, Mr. Sushil Bhatta, addressed
their views. the programme and emphasised
• Rt. Honorable Prime Minister the need for FDI in Nepal to meet
and Chairperson of IBN, Mr. its development aspirations.
Sher Bahadur Deuba, addressed • IBN CEO, Mr. Sushil Bhatta, held
the Indian investors and urged a discussion with Ms. Anupa
them to invest in Nepal in a Rimal Lamichhane, Green Climate
programme organised by CNI Fund, Regional Manager, Asia-
during his visit to India. The IBN Pacific on the potential areas for
CEO was also a team member cooperation on green investment
led by the Prime Minister and in Nepal.
elaborated on the potential • OIBN and the British Embassy
sectors for profitable investment in Nepal organised the 'UK-
in Nepal. Nepal Energy Transition and
• IBN CEO, Mr. Sushil Bhatta, Countdown to COP26' with the
addressed the AGM of FNCCI support of the Department of
on the occasion of Industry and International Trade. Honorable
Commerce Day and elaborated Finance Minister and Vice-
on the FDI opportunities and Chairperson of IBN, Mr. Janardan
challenges in Nepal. Sharma ‘Prabhakar’, urged
• OIBN and FNCCI signed an MoU international investors to invest
to establish an FDI Help Desk at in Nepal, and IBN CEO, Mr.
FNCCI. In the presence of the Sushil Bhatta, informed about
Honorable Finance Minister, Mr. the reforms taken to build a
Janardan Sharma 'Prabhakar', conducive investment climate in
IBN CEO Mr. Sushil Bhatta, and Nepal for green infrastructure.
FNCCI President Mr. Shekhar
93
• OIBN conducted an interaction by OIBN in collaboration with

on investment promotion in UNIDO ITPO and the Embassy
coordination with the Nepali of Nepal in Japan. The webinar
Embassy in UAE in the United was targeted to attract Japanese
Arab Emirates. investors seeking investment
opportunities in Nepal.
Engagement with • A delegation of FII, led by
Director General Mr. Deepak Jain,
Potential Investors held a meeting with IBN CEO,
Mr. Sushil Bhatta, and discussed
held a meeting with a team of
investment ideas on vehicle
Russian trade representatives.
manufacturing and assembly,
IBN Under-Secretary, Mr.
readymade garments, hospitals,
Ramesh Adhikari; Chief of
and medical colleges.
Protocol, Embassy of the Russian
Federation, Mr. Nikolay Kapustin;
addressed the programme titled
Trade Commissioner of Russia in
'Investment and its Procedures
India, Dr. Alexandar Rybas and
in Nepal' organised by IBN,
Trade Representative of Russia
Ministry of Industry, Commerce
in India, Ms. Anastasia Grivana
and Supplies, and the Office
participated in the discussion.
of Consulate General of Nepal,
The meeting focused on
Hong Kong jointly organised
competitive areas of investment
an interaction programme and
in Nepal like hydropower, solar
highlighted the investment
energy, aviation, railways and
procedures in Nepal, including
other means of transport.
the reform initiatives taken
• A webinar on investment
recently to enhance the
opportunities was organised
investment climate in Nepal.
94
Table 8: Investment Approval in 2021/22

S.N. Date of Board Board Project Approved
Meeting Meeting Investment
(In billion Rs.)
1. 2021 October 9 48th Jumkhola HP Project 10.53
2. 2021 October 9 48th Arun-3HP Project 62.26
3. 2022 February 8 49th Dabur Nepal Pvt. Ltd. 9.69
4. 2022 April 10 50th Suryatara Cement Project 14.28
5. 2022 June 6 51st Tamakoshi-5 Hydroelectric Project 16.46
6. 2022 June 6 51st Rahughat Hydroelectric Project 9.47
Total 122.69
• A delegation led by Mr. K.V. project-related representative to

Rajan, former Ambassador of inform the GoN agencies about
India to Nepal and Chair of the problems so that they could
India-Nepal Centre, PHDCCI be resolved in time. The IBN CEO
met IBN CEO, Mr. Sushil Bhatta, expressed his commitment to
and discussed business and resolving the existing problems.
investment opportunities in
Nepal. They agreed to carry out Partnership for
different activities to create a
positive and forward-looking
Economic Diplomacy
business ecosystem jointly.
addressed the ambassadors and
• IBN CEO, Mr. Sushil Bhatta, called
heads of diplomatic missions
on German investors to invest in
of Nepal deployed abroad in
potential sectors in Nepal, i.e.,
a programme organised by
hydroelectric power, tourism,
MoFA. During the programme,
agriculture, and information
the IBN CEO stressed the need
technology, among others.
for continued coordination
and communication among
Engagement with government agencies, embassies,
Existing Investors consulates, private sector, and
• OIBN organised an interaction the Nepali diaspora to attract
programme with representatives investment from abroad.
of IBN-facilitated projects in the • IBN CEO, Mr. Sushil Bhatta,
presence of Honorable Finance addressed the newly appointed
Minister and Vice-Chair of IBN, Nepali ambassadors and urged
Mr. Janardan Sharma ‘Prabhakar’. them for effective implementation
Mr. Sharma encouraged the of economic diplomacy.
95
Publication of Investor Database

Promotional Materials OIBN has developed a roster of
IBN has published 'Nepal Investment existing and potential investors and
Guidelines-2021' and 'Coffee Table categorised them by country and
Book' as promotional materials for sectors of interest. OIBN updates the
investors. roster on a regular basis, planning to
establish an investors’ portal.
Investment Policy
Study
OIBN has completed some studies
in terms of investment promotion.
Some of them are:
1. Investment Promotion Best
Practices
2. Priority Sector for FDI
3. Investors’ Satisfaction and
Motivation
4. Constraints Related to FDI in Nepal
96
Digital Initiatives
OIBN has taken various digital initiatives for project
development and management.
Table 9: Digital Initiatives
S.N. Digital Initiatives Status

1. One-Stop Service OSS system is an application submission portal that serves as
(OSS) Centre a single-entry point for investors to submit their application
online and track the status. The OSS system is widely targeted
for the investor/company, facilitating them in most of the
aspects thereby enhancing the investor experience in terms of
the duration and number of the processes included.
OIBN has operated this system for internal purposes and
will launch it for investors and concerned agencies after the
completion of the Standard Operating Manual (SOP).
2. Knowledge This portal will systematically manage the knowledge and
Management Portal information obtained by OIBN. It is the repository knowledge
(KMP) gained to the office.
This is a developing portal. The information related to Hongshi
Shivam is available on this portal. Shortly, information related
to Huaxin Cement Project and Arun 3 HEP will be made
available after the digitisation process is over.
3. Project Bank This application is intended to smoothen the management of
Management the projects listed in the project bank.
Information System This is now in use for internal purposes and shall be
(IBN PBMIS) implemented in a full-fledged manner when IBN PB Guideline
comes into practice. This system will be integrated with OSS
after its full-fledged development.
4. Project Monitoring Both of these applications are used for project monitoring.
Dashboard
5. Project Progress Arun-3 Hydroelectric Project is being monitored by this
Monitoring System application. This application will be applied to monitor other
projects in the near future.
6. Project Infrastructure This application is used to locate the project sites managed
Mapping System by IBN. The concept note is prepared and data and maps are
purchased for the implementation of this application.
7. Board Decision This tool is to be designed to track the implementation status
Tracking Tool of the Board decisions.
A preliminary tool has been developed using an excel
application.
8. Query Management The concept note has been prepared for the development of
System this application.
97
Institutional IBN PB Guideline

Development • OIBN has prepared IBN
Strategic Plan Project Bank Guidelines for the
• IBN Strategic Plan and 5-Year development of the projects
Business Plan: Right Honorable under its jurisdiction. OIBN
Prime Minister and Chairman of has also prepared the Project
IBN, Mr. Sher Bahadur Deuba, Prioritisation Guidelines for the
unveiled IBN Strategic Plan along ranking of the projects in an
with the 5-Year Business Plan. appropriate manner.
This plan targets investment
approval worth USD 10 billion, OIBN conducted a two-day validation
management of PPP projects workshop on the development of
worth USD 6 billion, creation the IBN Project Bank Guidelines and
of employment opportunities Framework in collaboration with the
for 100,000 individuals, and World Bank Group. The workshop
the development of IBN as a was focused on discussing the
Centre of Excellence for PPP by Project Screening and Analytics Tool
FY 2023/24. The Plan has four and Value for Money Component of
strategic pillars: development the IBNPB Guidelines.
and management of projects;
investment promotion;
institutional development; Human Resources
coordination; collaboration and Management
partnership. • O&M Survey:
• IBN Strategic Plan OIBN conducted an O&M survey,
Implementation Steering/ and the O&M Survey Report
Direction Committee, formed was submitted to OIBN. Several
under the chairmanship of the consultation meetings were held
Honorable Minister for Finance with the consultants in line with
and Vice-Chairperson, Mr. the preparation of the report.
Janardan Sharma 'Prabhakar', • Effective task allocation and
held its first meeting. The evaluation
meeting directed OIBN to focus
on the development of green and OIBN has adopted RACIQ
transformational projects. for effective task allocation and
evaluation among the employees.
Infrastructure The RACIQ was developed with
Development the active participation of the
• Honorable Finance Minister and employees.
Vice-Chair of IBN, Mr. Janardan
Sharma ‘Prabhakar’, inaugurated Training:
the 'Investors’ Lounge' at OIBN. • The staff of OIBN participated
This facility is a step forward to in a training programme on 'The
facilitate investors. Value for Money' organised by
the World Bank. The training
98
programme was fruitful for • A two-day training on the Project

determining whether any project Screening and Analytics Tool
is preferable or not. (PSAT) was organised for the
• OIBN organised a two-day staff of OIBN.
Risk Allocation Workshop • IBN and IFC organised an
in collaboration with the online workshop on Transaction
Commercial Law Development Advisory for the effective
Programme (CLDP) focused on delivery of infrastructure
risk assessment, risk allocation, projects.
roles, and responsibilities of • A notice was published seeking
parties in agreement, key experts to be enlisted in the
bankability, and risk allocation roster of OIBN so that OIBN
principles, structuring tariffs, and can utilise their expertise. All
climate risk. experts can enrol themselves in
• OIBN organised a knowledge- the roster by browsing the IBN
sharing workshop on website.
strengthening the transaction
and procurement processes in
collaboration with ADB. The Legal and Policy Reforms
workshop was focused on
the rights and obligations of Completed
each party in the procurement • Guidelines for Recruitment,
process, the applicable Management, and Regulations of
legal framework, and legal Trainee, 2078 is approved.
documentation related to the
procurement process.
99
• Blended Finance
• Standard Operating Procedures
• Guideline for Design, Build,
Finance, Operate and Maintain
(DBFOM)
Study on Legal Framework

• A Study report is prepared on
the revision of PPIA and PPIR.
Establishment of IBN Fund

The IBN Fund bank account is in
operation now.
Research and study

OIBN conducted some studies
to enhance the knowledge of the
institution. Some of the studies are:
• Guidelines for Formation of
• An Assessment of Policies
Expert Committee or Task Force
for Improving the Investment
and Appointment of an Expert,
Climate in Nepal.
Remuneration and Allowances/
• Best Practices on PPP
Facilities, 2078 is approved.
Implementation.
• A high-level discussion was
New initiatives
held on the 'IBN Fund and PPP
• Transaction Advisory Guideline
modalities' and Design, Build,
• Guidelines for the Swiss
Finance, Operate and Maintain
Challenge
(DBFOM).
100
101
• A brief report on a
discussed possible collaboration
comparative study of the
and cooperation in the areas of
available technologies for the
project concept and ideation;
establishment of the chemical
development and investment.
fertiliser is published.
held a meeting with Mayor of
Coordination, Kathmandu Metropolitan City, Mr.
Collaboration and Balendra Shah, and exchanged
Partnership views, experiences and efforts
made by OIBN in solid waste
Interaction with Sub-national management.
Agencies
• The Honorable Chief Minister Engagement with Development
of Sudurpashchim Province, Mr. Partners
Trilochan Bhatta, and IBN CEO, • Honorable Finance Minister and
Mr. Sushil Bhatta, expressed their IBN Vice-Chair, Mr. Janardan
views on mutual coordination Sharma ‘Prabhakar’, and IBN
and collaboration for the CEO, Mr. Sushil Bhatta, held a
development of PPP projects at meeting with the delegates led
a programme held in Dhangadhi. by British Ambassador to Nepal,
• IBN CEO, Mr. Sushil Bhatta, held Her Excellency Nicola Pollitt, and
a meeting with Honorable Chief held discussions on institutional
Minister, Mr. Trilochan Bhatta, and strengthening and sustainability
102
of IBN and FCDO’s plan for

support to IBN.
• IBN CEO and the team held a
meeting with ADB officials along
with Ms. Helen Steward, Principal
PPP Specialist, and discussed
potential support for IBN on
project development, investment
promotion, and institutional
development.
• British Ambassador to Nepal,

Her Excellency Ms. Nicola Pollitt,
visited IBN CEO, Mr. Sushil
Bhatta, at OIBN.
• A team from JICA Nepal met
IBN CEO, Mr. Sushil Bhatta, and
discussed the development
process of the Instant Digital
Payment Platform Project.
held a meeting with His
investment promotion, public-
Excellency Mr. Marten Van
private partnerships, and the
Den Berg, Ambassador of the
achievement of SDGs.
Kingdom of the Netherlands
• IFC Country Manager held a
to Nepal, India and Bhutan.
meeting with IBN CEO, Mr.
The meeting focused on IBN’s
Sushil Bhatta, and discussed
structure and role in attracting
areas of cooperation for
foreign investment. The
investment promotion and
overall investment climate and
making infrastructure projects
opportunities to invest in Nepal,
commercially viable.
possible areas of collaboration
• An ADB Mission led by Ms. Helen
between IBN and the Embassy
Steward, Principal PP,P Specialist,
of the Netherlands, sustainable
and IBN CEO, Mr. Sushil Bhatta,
development, and climate
met and discussed streamlining
change were the other issues
ADB support for accelerating
discussed at the meeting. The
PPP projects. During the
Dutch Ambassador expressed
meeting, OIBN sought the APMG
interest in investing in food
PPP Certification Programme
and agriculture, IT, and tourism
for IBN staff, knowledge sharing
sectors in Nepal.
from international experts, and a
• OIBN and UNDP signed an
framework for drafting DBFOM
MoU for cooperation and
directives, among others.
collaboration. The MoU has
concentrated on cooperation
held talks with Mr. Arnaud
and collaboration on
Cauchois, Country Director,
103
Asian Development Bank, on the • OIBN organised a meeting

prospects of cooperation for the with CDOs of seven districts
development of PPP projects concerned with the transmission
and the need to strengthen the line of the Arun-3 JP project,
institutional capacity of OIBN. representatives from the
• IBN CEO, Mr. Sushil Bhatta, developer, and other government
spoke on 'The Importance officials. The meeting was a
of Investment Facilitation facilitation move aimed at
for Nepal and the Need for collaborating among concerned
Capacity Building' while ministries, OIBN, and CDOs to
participating in the ‘High- create a favourable environment
Level Regional Roundtable for the smooth implementation
on Investment Facilitation for of the transmission component
Development: How Asian and of Arjun-3 HP Project.
Pacific Economies will Benefit' • OIBN organised a field visit
organised by the International to the Arun-3 HP Project site
Trade Center (ITC), United for members of the Foreign,
Nations Economic and Social Commonwealth, and Development
Commission for Asia and the Office (FCDO) and consultants of
Pacific (UNESCAP). the office to observe the project’s
progress. The team held a meeting
Coordination to Facilitate with the local government,
developer, contractor, and people
Projects of the community to resolve the
Arun-3
problems that have arisen.
• In line with the facilitation of the
• OIBN conducted an interaction
construction of the transmission
programme in coordination with
line of the Arun-3 HP Project,
the District Administration Office,
OIBN organised a meeting with
Sankhuwasabha with all concerned
CDOs of the Arun-3 Transmission
stakeholders of Arun-3 HP Project
Line-related districts in the
to resolve problems related to the
presence of the Chief Secretary,
compensation for the acquired
Mr. Shanker Bairagi, as chief guest.
land.
The meeting urged the CDOs
• OIBN held a consultation with
to resolve all the problems and
representatives of political parties
obstacles to the implementation
and stakeholders of Bhojpur district
of the project, realising it is a GoN
regarding the construction of
Project and has offered different
the transmission line for Arun-3
benefits to the nation and local
HP Project. The consultation was
communities. The IBN CEO
focused on making local people
stressed the need to complete
aware of GoN’s commitments and
the project in the stipulated time
responsibilities in the project, the
by maintaining the quality. The
need for land acquisition, and its
project is facing a demand for a
process.
change in the alignment and higher
• OIBN held an interaction with
compensation for acquired land
stakeholders of the transmission
and RoW.
line in Udayapur.
104
Solar Energy (250MW)

• OIBN organised a local
stakeholder engagement and
field observation regarding the
development of the Solar Power
Project (250MW) in Banke and
Kapilvastu districts.
Private Freight Terminal

and Bulk Handling Facility
Project
• OIBN organised a local
stakeholder engagement and
field observation regarding the
development of the Private
Freight Terminal and Bulk
Handling Facility Project in
Birgunj. The OIBN team visited organised by MAN. The
Birgunj Inland Clearance Depot, conference was conducted
railway lines, warehouses, and with the theme 'Reengineering
other supporting infrastructure, Management, for Survival,
and interacted with officials of Revival, and Growth'. As a
the developer company, SEZA panellist at the Infrastructure
officials, elected representatives Session, he talked about
at the local level, and SEZA infrastructure, challenges,
Support Committee members. opportunities, and initiatives
taken by IBN.
Cement Projects • IBN CEO, Mr. Sushil Bhatta,
• OIBN conducted stakeholder and Nabil Bank Ltd. CEO, Mr.
mapping of Dang Cement and Anil Keshary Shah, signed an
Samrat Cement Projects. MoU to promote foreign direct
investment and cooperation for
the enhancement of partnerships
Coordination with among domestic and foreign
Media companies.
• OIBN organised an interaction • IBN CEO, Mr. Sushil Bhatta,
programme with SEJON. The addressed a programme to
interaction concluded with mark the Industry Day organised
cooperation to promote Nepal by FNCCI on the occasion of
as one of the best countries for its AGM and elaborated on
investment. challenges and opportunities to
attract FDI in Nepal.
Partnerships with • IBN CEO, Mr. Sushil Bhatta,
Different Agencies participated in the Start-up World
• IBN CEO, Mr. Sushil Bhatta, Cup Nepal Regional-2021 jointly
addressed the CEO Conference organised by Start Hub Nepal and
World Trade Group Nepal.
105
CHAPTER 4
LESSONS
LEARNED
106
4 LESSONS
LEARNED
OIBN has been engaged in facilitation, and cooperation with

facilitating the implementation concerned government agencies,
of large scale projects since its organisations and stakeholders.
inception in 2011. In the 11 years of
its operations, it has gained a wealth These are complex issues that can
of experience and has learnt many often hamper project development.
valuable lessons. Hence, IBN has developed practical,
field level knowledge of solutions to
Project Development these issues.
and Management
In practice, there are many The lessons learned could be helpful
difficulties in implementing large in making policy reforms.
projects. There are physical, financial
and social challenges that IBN has
faced over the years. Investment Promotion
IBN has used various strategies to
Project Development promote investments in the past.
In the past, project development Domestic and foreign investors need
was hampered by lack of baseline to be differentiated and separate
information regarding the project. strategies utilised for each.
Pre-feasibility and feasibility
studies are useful for garnering that In this line, OIBN has negotiated
information. with FNCCI, and FNCCI is convinced
of the need for FDI in Nepal. Now
The Board has rectified that FNCCI has established a Help Desk
shortcoming by commissioning at its secretariat to facilitate foreign
feasibility/prefeasibility studies. investors.
Currently, seven prefeasibility studies
have been commissioned. Further Programmes, Visits, and
studies will be undertaken if needed. Meetings
For investment promotion, there is
Project Management no substitute to interacting directly
The lessons that IBN has learnt on with poetential investors. That is
management of projects have been why IBN has undertaken a range of
on such issues as the right of way, activities, both inside and outside
compensation, land acquisition, the country, to promote investments.
social-environmental concerns,
107
To promote Nepal as an investment the IBN, on reform of legal provisions

destination, OIBN officials have to smoothen the operation of OIBN
undertaken trips to important and handle large-scale projects.
foreign countries in which they
interacted with political and business This will ensure that legal provisions
leaders of those countries. The are simplified and are investor-
Office has also organised investment friendly while also ensuring there
summits in Nepal and has interacted is no compromise of full legal
with Nepali ambassadors of different compliance.
countries to discuss with them ways
and means of improving economic Steps have also been taken to
diplomacy. increase financial autonomy, to
design a future workforce that is
Other efforts include making public more capable of addressing pressing
the Investor’s Guide-2021, and table needs, and in creating a standard
calendar as promotional materials. operating procedure that will enable
the Office to function uniformly and
systematically.
Institutional
Finally, the Office has taken the
Development required initiatives to increase the
Institutional development of any
use of technology throughout.
organisaiton is necessary for meeting
Using technnology could go a long
its medium and long-term objectives.
way in increasing productivity and
IBN has a concrete plan to do this
efficiency. It could also be a 'force-
as it has created many guiding
multiplier' in enabling investors to
documents such as the Strategic
easily communicate with the Office,
Plan, Business Plan and the Project
and help IBN coordinate more
Bank Guideline.
effectively with other agencies.
Other ways and means for

Hence, OIBN has initiated ICT for its
institutional development are to bind
well functioning. One-Stop Service
the organisation closely to national
Centre (OSS), Investors Information
plans and policies and increase
System (IIS), Investment Board
transparency and legal compliance.
Nepal Management Information
System (IBNPBMIS), Knowledge
In Nepal, investors need to follow
Management System (KMP), Query
many complex legal processes.
Management System (QMS), Board
IBN has already been successful in
Decision Tracking Tool, Project
codifying previously separate laws
Progress Monitoring System (PPMS),
on investment. However, there are
Project Infrastructure Mapping
challenges remaining in streamlining
System (PIMS), and Investor
these laws even further.
Relationship Management System
(IRMS) are being implemented at
To rectify this problem, OIBN has
OIBN in the near future.
drafted a report, with the direction of
108
Coordination, signed between FNCCI and Nabil

Bank Ltd. to facilitate FDI, and
Cooperation and participating in joint meetings
Partnership with the Chief Secretary, other
The goals of project management, government agencies and concerned
investment promotion, and stakeholders.
institutional development can be
achieved through coordination, Coordination with the country's
cooperation, and partnership. leading trade association and one
Consequently, the Office has focused of its leading banks will help in
on developing good relations with further cementing links with the
relevant agencies and organisations domestic private sector. OIBN has
and on collaborating with them as also maintained good relations with
much as possible. foreign diplomats to ensure both
institutional development and to
In this regard, important attract FDI.
milestones have been achieved.
These include the MOU that was
109
CHAPTER 5
THE WAY
FORWARD
110
5 THE WAY
FORWARD
As discussed in the previous section, 1. Make the responsibility clear

IBN has gained a wealth of experience between the GoN and the
and knowledge as a result of being proponents.
operational for more than a decade. 2. Study the projects having PCN is
developed.
The knowledge and experience that 3. Deploy Digital Initiatives for
were gained will allow it to chart a project development and
way forward that will ensure that its management.
goals, as laid out in the Strategic Plan, • IBN PBMIS
are achieved as much as possible. • Web-based OSS
• KMP
Here are some tasks in the near future. • QMS
• PIMS
Project Development and • Board Decision Tracking Tool
Management 4. As Hydroelectric Projects are
feasible and attractive, advocacy
111
for proper PPA and PSA is a must. 5. Recommend policy reforms and
Investment Promotion amendments in legal provisions,
1. Expedite investment promotion including PPPIA and PPPIR, in line
activities as an ongoing process. with attracting FDI.
2. Advocate for economic diplomacy. 6. Approval and Implementation of
3. Keep close coordination with the various guidelines
private sector, • Transaction Advisory Guidelines
4. Reach out to potential investors • Viability Gap Funding Guidelines
abroad. • Swiss Challenge Guidelines
5. Recommend for sovereign rating. • Blended Finance Guidelines
Institutional Development Coordination, Collaboration and

1. Effective implementation of the Partnerships
Strategic Plan and Five-Year 1. Effective coordination with GoN,
Business Plan. developer/investor, and stakeholders
2. Implementation of O&M report. for project development and smooth
3. Effective Implementation of IBN implementation.
Fund. 2. Cordial partnership with
4. Empowerment of OIBN for the development partners for
study of projects. technical assistance to enhance
the effectiveness of the office.
112
113
CHAPTER 6
KEY INFORMATION
FOR INVESTORS
114
6 KEY INFORMATION
FOR INVESTORS
INVESTMENT BOARD NEPAL (IBN)
Legal Provisions
Established by Institutionally further Public-Private Partnership

Investment Board Act, 2011 strengthened and empowered by and Investment
(Now repealed) Public-Private Partnership Regulations, 2020
and Investment Act, 2019
Mandates
INVESTMENT APPROVAL PROJECT IMPLEMENTATION

(Project Cost ≥ NRs. 6 Billion) Energy Projects
(Capacity ≥ 200 MW)
Other Infrastructure Projects
(Project Cost ≥ NRs. 6 Billion)
Functions
Project Investment Project Policy

Development Promotion Implementation Advocacy
115
PUBLIC-PRIVATE PARTNERSHIP
SOLICITED PROJECTS
DOCUMENTS REQUIRED
Project Bank/List For EOI
1. Details of Individual/Company/Organisation
2. Financial & technical capability and capacity
to develop project
Expression of Interest (EOI)
3. Project business plan
4. Financial sources to implement project
5. Economic, social, technical, and environment
Request for Proposal (RFP) soundness of project (if feasibility study not
done)
6. Other necessary information
For RFP (Financial and Technical documents to

Letter of Approval/Survey License be submitted in a different sealed envelope)
(MoU to conduct study/survey 1. Preliminary feasibility study
for the project) 2. Engineering design and sustainability
3. Estimated project cost
4. Financial source
5. Project business plan
6. Preliminary environmental study (if
Investment Approval
completed) or study plan
7. Fees/rates to be collected from customers/
end users
8. Royalty to be submitted to government as
Permits/Approvals/Registration per Annex 2 of PPPI regulations, if energy
(for business establishment, visa, project
trademark, environmental clearance, land 9. Royalty to be submitted to government for
acquisition, et. al.) other projects
10. Benefits/economic benefits accruing to/
Incentives expected from the government
11. Proposed duration of agreement
Project Development Agreement (PDA)
116
UNSOLICITED PROJECTS
Proposal Submission DOCUMENTS REQUIRED
1. Details of project
Evaluation 2. Profile of the proponent along with financial
and technical capacity
3. Preliminary feasibility report of project
Letter of Approval/Survey 4. Proposed business plan
Licence 5. Technology to be involved in the project
(MoU to conduct study/survey 6. Details of benefits accruing from project
for the project) 7. Documents meeting criteria stated below:
• Project not listed in project list or
identified by agencies concerned
• Use of innovative concepts, exploration,
Investment Approval and technology
• National priority projects stated in
government’s policy and programmes
targeted for public benefits
• Agree to bear all liabilities of feasibility
Permits/Approvals/Registration study of project
(for business establishment, • Use of proprietary items available only to
visa, trademark, environmental private sector
clearance, land acquisition, et. al.) • Project identified as strategically important
by the board or Government of Nepal, on
the recommendation of the Board
117
DIRECT NEGOTIATION PROJECTS
Application/Proposal Submission
DOCUMENTS REQUIRED
1. Investor/s name and address
2. Company’s name, address, establishment
Evaluation year, organisation structure, ownership
and main office (in case the proponent is a
company)
3. Name of the intended project and its brief
Negotiation description
4. Description of project’s feasibility and its
significance
5. Details of proponent’s financial and technical
Letter of Approval/Survey Licence capability along with experience
6. Details of available/required machinery,
(MoU to conduct study/survey human resources and technology
for the project)
Investment Approval
Permits/Approval/Registration
(for business establishment,
visa, trademark, environmental
clearance, land acquisition, et.al.)
118
PRIVATE INVESTMENT
PROJECTS
DOCUMENTS REQUIRED
Application Submission 1. Project’s name, nature, location, and concept
2. Details of estimated cost of the project
3. Details of proposed financial sources
including percentage of domestic/foreign
Project Approval investor’s debt and equity
4. Project’s business plan
5. Project implementation timeline
6. Updated share structure of the company
Memorandum of Understanding (MOU)

(for project implementation)
Detailed Project Proposal
Investment Approval
Permits/Approvals/Registration
(for business establishment, visa,
trademark, environmental clearance, land
acquisition, et. al.)
Project Investment Agreement (PIA)
119
ADDITIONAL BENEFITS FACILITATION

1. Capital subsidy on equipment required for One-stop service for:
project construction 1. Business Registrations,
2. Partial subsidy on electricity tarrif during 2. Approvals/Permits/Licences/Clearances,
project implementation 3. Land Acquisition,
3. Providing government land on concession lease 4. Project Security,
rate or for free 5. Visa Recommendation,
4. Additional concession on tax or export subsidy 6. Repatriation
5. Concession on customs duty and other tax/fees
for import of equipment required for project
construction
6. Concession on lease rental rates
7. Use of government-owned infrastructure for
free or at a subsidised rate
8. Bank guarantee facility or concession on
customs duty for non-consumable machinery
and equipment used for project implementation
9. Economic and other benefits as specified by
the Board
VIABILITY GAP FUNDING (VGF)

1. Operationalisation and management by the
Board.
2. Be made available as capital and operational
grant or loan to:
a. National pride projects
b. Transformative or national priority
projects
c. Multipurpose storage hydro projects as
identified by GoN,
d. Transport infrastructure projects,
e. Projects that modernise agriculture
sector,
f. Waste-to-energy projects,
g. Drinking water treatment or waste-water
treatment projects
h. Other projects specified by the Board.
120
Investment Board Nepal Chief Executive Officer, Mr. Sushil Bhatta, and Senior Management Team (SMT)
during the briefing regarding the Investment Board Nepal’s Strategic Plan and Business Plan with Rt.
Hon’ble President, Ms. Bidya Devi Bhandari, at the President’s Office, Shital Niwas.
121
FEES
PPP PROJECTS
Particular Fees (NRs.)
Submission of solicited project proposal 150,000
Submission of unsolicited project proposal 250,000
Application fee for project proposals to be implemented through 250,000
negotiation
Performance Guarantee for approval of study (Investor required 0.5% of estimated project cost
to submit bank guarantee equivalent to the amount at the time of
submission)
Signing Fee (to be provided upon completion of negotiation and prior 0.2% of total project cost
to signing of PDA/concession)
Performance Guarantee under PDA (to be provided prior to entering 0.1% of total project cost
into an agreement)
PRIVATE PROJECTS RFP PURCHASE FEES*
Particular Fees (NRs.) Estimated Project Fee

Cost (NPR)
Submission of project proposal 150,000
< 6 Billion NRs. 100,000
Signing Fee (to be provided upon 0.2% of total project cost
completion of negotiation and before 6-10 Billion NRs. 150,000
signing of the PIA)
10-15 Billion NRs. 200,000
Performance Guarantee under PIA (to 0.1% of total project cost
be provided before entering into an 15-20 Billion NRs. 250,000
agreement) 20-30 Billion NRs. 300,000
> 30 Billion NRs. 350,000
SURVEY LICENCE
A. HYDROELECTRICITY B. ALERNATIVE ENERGY C. OTHER INFRASTRUCTURE
PROJECTS
Capacity NRs. Renewal Particulars NPR/
(MW) /year fees/ MW Estimated Project Fee (NRs.)
year Cost
Solar/Wind/ 10,000
200 - 500 5,000,000 Same as Mineral/Coal/ < 6 Billion NRs. 300,000
approval Biomass/Waste 6-10 Billion NRs. 500,000
to energy
> 500 6,000,000 Same as
10-15 Billion NRs. 1,000,000
approval
15-20 Billion NRs. 1,500,000
*FOR PPP PROJECTS ONLY 20-30 Billion NRs. 2,000,000
> 30 Billion NRs. 2,500,000
122
INVESTMENT PROCESS IN NEPAL
01 INITIAL CONSULTATION
at Investment Board Nepal or
Department of Industry
INVESTMENT APPLICATION
02
03 INVESTMENT APPROVAL
by Investment Board Nepal or
Department of Industry
COMPANY
REGISTRATION
at Office of Company 04
Registrar
05 TAX REGISTRATION
at Inland Revenue Department
INDUSTRY
REGISTRATION
at Department of Industry
06
07 CENTRAL BANK CLEARANCE
at Nepal Rastra Bank (only for
brownfield investments)
PERMITS/APPROVALS/
REGISTRATION
(For Visa, Trademark,
Environmental
08
Clearance, Land Acquisition, and
NEGOTIATIONS AND
AGREEMENTS
09
others)
Project Development Agreement
(PDA) for PPP and Project Investment
Agreement (PIA) for private projects
(only for IBN Projects)
ADDITIONAL SERVICES
Any required approvals and
clearances
10
FIGURE: INVESTMENT PROCESS IN NEPAL
123
ANNEXES
124
ANNEX 1: FINANCIAL STATEMENTS

Recurrent Expenditure
Budget Particulars Total Budget Total Expenditure
Code
21111 Remuneration (Employees) 10,900,000.00 9,449,797.70
21112 Remuneration (Office Bearers) 3,900,000.00 3,575,000.00
21121 Uniform 200,000.00 160,000.00
21132 Dearness Allowances 400,000.00 356,000.00
21134 Meeting Allowance (Employees) 1,700,000.00 1,273,500.00
21139 Other Allowances 100,000.00 43,025.00
21212 Contribution-Based Pension and Gratuity Fund 100,000.00 -
Expenses
21213 Contribution-Based Insurance Fund Expenses 100,000.00 -
22111 Water and Electricity 1,300,000.00 741,424.52
22112 Communication Charges 1,100,000.00 264,820.00
22211 Fuel (Office Bearers) 400,000.00 398,470.00
22212 Fuel (Office) 1,100,000.00 1,063,938.26
22213 Vehicle Maintenance 1,100,000.00 1,034,762.18
22214 Insurance Premium and Renewal 900,000.00 681,265.88
22221 Machinery and Tools (Maintenance and 500,000.00 479,370.20
Operations) Expenses
22231 Maintenance of Built Public Properties 700,000.00 670,371.66
22311 Stationery and Office Materials 3,000,000.00 2,320,594.90
22314 Fuel- For other use 100,000.00 21,972.00
22315 Newspaper, Printing and Notice Publication 1,900,000.00 1,403,943.00
Charge
22411 Contract Service Charge 13,000,000.00 610,300.00
22413 Contract Service Charge 9,900,000.00 6,473,553.72
22511 Training Expenses 1,300,000.00 462,000.00
22522 Organising Programme 164,300,000.00 31,867,326.56
22522 Organising Programme 88,000,000.00 2,791,620.00
22611 Expenses on Monitoring and Evaluation 900,000.00 899,807.99
22612 Travel Allowances 200,000.00 20,500.00
22711 Miscellaneous 1,600,000.00 1,175,818.01
28142 House Rent 14,400,000.00 12,569,589.86
Total 323,100,000.00 80,808,771.44
Capital Expenditure
31122 Machinery and Tools 1,000,000.00 752,015.00
31122 Machinery and Tools 2,900,000.00 1,809,972.50
125
Budget Particulars Total Budget Total Expenditure

Code
31123 Furniture and Fixtures 800,000.00 518,730.00
31123 Furniture and Fixtures 1,800,000.00 1,452,347.95
31134 Computer Software (Design and Purchase) 21,200,000.00 4,792,705.90
31134 Computer Software (Design and Purchase) 14,000,000.00 5,467,198.50
31161 Reform of Structure of the Building 1,400,000.00 1,352,714.50
31161 Reform of Structure of the Building 2,300,000.00 1,425,076.31
31171 Public Construction (Capital Expenditure for - -
Reform)
31171 Public Construction (Capital Expenditure for 500,000.00 309,670.67
Reform)
Total 45,900,000.00 17,880,431.33
Revenue Collection
S.N. Revenue Title Total Revenue
14229 Other Administrative Fees 1,580,000.00
15111 Undeclared -
Total 1,580,000.00
126
ANNEX 2: Investment Approval by IBN (Upto 2079 Asar-end)

Energy Projects
S.N. Project Name Amount (Rs. in Billion)

1. West Seti Hydropower Project 156.80
2. Grid Connected Solar Photo Voltaic Plus Battery Storage (Dolma) 21.60
Project
3. Marsyangdi Besi Hydropower Project 11.78
4. Upper Trishuli-3B Hydropower Project 8.23
5. Upper Trishuli-1 Hydropower Project 73.16
6. Aankhu Khola Hydropower Project 6.31
7. Myagdi Khola Hydropower Project 10.32
8. Kaligandaki Gorge Hydropower Project 28.07
9. Isuwa Khola Hydropower Project 13.57
10. Upper Marsyangdi-2 Hydropower Project 78.31
11. Ghunsa Khola Hydropower Project 17.62
12. Himchuli Dordi Hydropower Project 10.62
13. Dudh Khola Hydropower Project 10.44
14. Upper Tamor Hydropower Project 63.72
15. Lower Manang Marsyangdi Hydropower Project 33.41
16. Jum Khola Hydropower Project 10.53
17. Arun III Hydropower Project 144.76
18. Tamakoshi 5th Hydropower Project 16.46
19. Rahughat Hydropower Project 9.47
GRAND TOTAL 725.17
127
Non-Energy Projects
S.N. Project Name Amount (Rs. in Billion)

1 Dangote Cement 56.28
2 Reliance Cement 39.76
3 Huaxin Cement Narayani Pvt. Ltd. 14.83
4 Vehicle Manufacturing and Assembly Plant Project 10.54
5 Hongshi-Shivam Cement Pvt. Ltd. 37.35
6 Kathmandu Valley Waste Management Project (Package I) 4.87
7 Kathmandu Valley Waste Management Project (Package II & III) 0.80
8 Venture Waste to Energy, Dharan 0.24
9 Hotel Project (Dahachowk) 13.99
10 China-Nepal Friendship Industrial Park, Damak 64.90
11 Dang Cement 32.50
12 Samrat Cement Company 15.06
13 Dabur Nepal Pvt. Ltd. (Capacity Enhancement and Product 9.69
Diversification)
14 Suryatara Cement Project 14.28
GRAND TOTAL 315.08
128
PHOTO GALLERY
The 49th Board meeting of Investment Board Nepal held on February 8, 2022, under the
Chairpersonship of Rt. Hon’ble Prime Minister and Chairperson of IBN, Mr. Sher Bahadur Deuba.
Investment Board Nepal Chief Executive Officer, Mr. Sushil Bhatta, giving a presentation on the
execution of the earlier decisions of IBN and its current agendas during the 50th Board meeting
held on March 31, 2022.
129
Investment Board Nepal Chief Executive Officer, Mr. Sushil Bhatta, and Senior Management Team
held a meeting with newly elected Mayor of Kathmandu Metropolitan City, Mr. Balendra Shah,
regarding sustainable solid waste management solutions at the Office of the Investment Board
Nepal, on June 7, 2022.
Investment Board Nepal Chief Executive Officer, Mr. Sushil Bhatta, held a meeting with the
Country Director of Asian Development Bank, Mr. Arnaud Cauchois, at the Office of the
Investment Board Nepal.
130
A high-level team of the Government of Nepal including Chief Executive Officer of Investment
Board Nepal, Mr. Sushil Bhatta, inspected sites of vital structures of the proposed West Seti and
Seti River 6 (SR6) hydroelectric projects from September 17 to September 19, 2021.
A two-day validation workshop held on Development of IBN Project Bank (IBNPB) guideline and
framework held in collaboration with the World Bank Group in June 2022.
131
Signing ceremony of the memorandum of understanding between the Office of the Investment
Board and Nabil Bank Ltd.
Meeting of the IBN Strategic Plan Implementation Steering Committee chaired by Hon’ble
Minister of Finance, Mr. Janardhan Sharma “Prabhakar”.
132
G OV E R N M E N T O F N E PA L
I N V E S T M E N T B OA R D N E PA L
ICC Complex, New Baneshwor, Kathmandu

Phone: +977-1-4475277,4475278
Fax: +977-1-4475281
Email: [email protected]
Website: www.ibn.gov.np
134

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G OV E R N M E N T O F N E PA L

INVESTMENT BOARD NEPAL

Investment Board Nepal

IBN Investment Approval

Invest in Emerging Nepal

CHAPTER 2: HIGH-LEVEL MEETINGS 18

CHAPTER 3: OVERVIEW OF ACTIVITIES 2021/22 25

CHAPTER 4: LESSONS LEARNED 107

CHAPTER 5: THE WAY FORWARD 111

Investment Board Nepal is a high- Investment Board Act, of 2068. In

Table 1: Composition of the IBN

Mandate of the IBN 3. Make arrangements for unsolicited

Table 2:Composition of the Monitoring and Facilitation Committee

During the fiscal year 2021/22, IBN

Table 3: Major Decisions taken by IBN (2021/22)

• The meeting approved investment of Rs. 10.53 billion for

• The meeting approved investment of Rs. 24.27 billion for

• The meeting approved investment of Rs. 16.46 billion for

Table 4: Investment Approval in FY 2021/22

S.N. Date of Board Meeting Board Project Approved

A total of Rs. 122.69 billion was approved in FY 2021/22.

Figure 1: Investment Approval in FY 2021/22

Table 5: MFC Meetings

The meeting took the initiative for the implementation of Arun-3

IBN and MFC Meetings The Decision Implementing

West Seti and SR6 Joint

FIGURE 4: MAP OF IBN PROJECTS

Lower Arun Hydropower Project

Arun-3 Hydropower Project Tamor Storage Hydropower Project

mandu Outer Ring

ENERGY PROJECT UPDATES

IBN HAS APPROVED A TOTAL

Project Development and Management

ENERGY PROJECTS A. Projects Under Ideation

Time Extension of Financial Closure

Table 6: Energy Projects under OIBN

PROJECTS UNDER INITIAL PHASE

1. West Seti Hydroelectric Project and SR-6 Hydroelectric Project

750 MW+ USD 1320 MILLION+

The 44th meeting of IBN approved companies shortlisted for developing

The report prepared by the committee is presented to

The GoN formed a committee to

2. Tamor Storage Hydroelectric Project

756 MW USD 1200 MILLION

The 35th meeting

The 41st meeting of IBN approved the selection of a JV of

A Technical Committee Report was endorsed by the 47th meeting of IBN.

The Monitoring and Facilitation Committee

3. Upper Marsyangdi-2 Hydroelectric Project

327 MW USD 647.16 MILLION

HIMTAL HYDROPOWER COMPANY

LAMJUNG AND PVT. LTD. (JV OF BUTWAL POWER

PROVINCE) INTERNATIONAL, AND QYEC

The 5th Board

4. Solar Energy Project (350 MW), Doti and Dadeldhura

350 MW RS. 22.4 BILLION

The Evaluation Committee

The 49th meeting of IBN decided

5. Grid-Connected Solar PV Plus Battery Project