A separate committee will be formed to conduct PDA with the proponent company of Muktinath Cable Car and Upper Seti Hydropower Project.
The 64th meeting of the Investment Board of Nepal has approved the investment of 1 trillion 17 billion 40 million rupees. The board meeting held on Thursday under the chairmanship of Prime Minister and Chairman of the Board KP Sharma Oli has decided to form a separate committee under the coordination of Board Chief Executive Officer (CEO) Sushil Gyawali to conduct a PDA with the Muktinath Cable Car and Upper Seti Hydroelectric Project Proposer Company.
According to the board, investment of 59.76 billion rupees has been approved for the 43.2 MW Chilungkhola Hydroelectric Project, 216 MW Bajhang Upper Seti Hydroelectric Project and 44 MW Bakan Khola Hydroelectric Project and 57.64 billion rupees for Muktianath Cable Car.
From Seraphant (Veerethanti/Nyanpul) in the mountain to Muktinath in Mustang, a long cable car of 81.41 km with stations is going to be constructed. The project was proposed to be built by Muktinath Darshan Pvt. The meeting formed a committee under the coordination of Board CEO Gyawali to discuss the terms of the project development agreement with the said Pvt Ltd. It is expected that a large amount of tourists and employment will increase in the local level after the operation of the cable car. The
meeting will further study the detailed report of the West Seti Reservoir project with a capacity of 750 megawatts and an investment of 1 trillion 60 billion. Pradyumna Upadhyay, spokesperson of the board, said that the draft agreement to be made with South Korea's Korel organization to study for cooperation in the railway sector in Nepal has also been decided to be approved by the Cabinet. The meeting also decided to proceed with the proposals received for setting up of refined edible oil (edible oil) industry in Janakpur and information technology parks at various places.
