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With the investment of one and a half billion of IME Group, an industry producing fiber cement board of international quality has come into operation. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the Everest Fiber Cement Board Industry at a program held in Kathmandu on Wednesday.
Minister Bhandari also formally announced the fiber cement board produced by the industry and various products made from it.
Minister Bhandari says that the establishment of quality, environment-friendly and state-of-the-art technology-based industry in the country is an important step towards Nepal's industrial development. He said that the government will always encourage production-oriented investment as the industry is not only import substitution, but also leads the construction sector on the path of sustainable development.
Chandra Prasad Dhakal, Chairman of Federation of Nepal Chamber of Commerce and Industry and Chairman of IME Group, said that a new industry has been established to contribute to the construction sector by using indigenous raw materials and local resources. He also said that this will create jobs within the country and since the production will be done in Nepal, it will avoid large amount of foreign currency outflow due to import substitution.
The industry established under IME Group with an investment of about one and a half billion rupees is located in Fatuwa Vijayapur Municipality-6 of Rautahat. All the processes in the industry from raw material mixing to board cutting, pressing and drawing are fully automated. It is said that 200 people are employed in the industry. According to the industry, there are more than 40 percent female workers.
