Detailed studies for four big projects submitted to OIBN

KATHMANDU: The developers of four major infrastructure projects, being facilitated by the Investment Board Nepal (IBN), have submitted Detailed Feasibility Study Reports (DFSRs) and Detailed Project Reports (DPRs) of their respective projects.
On December 15, 2020, the consortium of Flash Freight Logistics and International Cargo Terminal & Infrastructure Pvt. Ltd., submitted a DFSR for the Private Freight Terminal and Bulk Handling Facilities Project to be constructed in Birgunj and Bhairahawa. A memorandum of understanding (MoU) to build and operate the project was signed between the developer and the Office of the Investment Board (OIBN) on November 29, 2019. Speaking on the occasion, OIBN CEO Mr. Sushil Bhatta expressed confidence that infrastructure like freight logistics will contribute to holistic economic development by bringing down both travel time and transportation costs. Submitting the DFSR, Mr. Daryl Pareira, the representative of the consortium, expressed gratitude to OIBN for its continuous support in the run up to the developing the DFSR. Mr. Pareira also highlighted the significance of the logistics project to Nepal for the economic benefit of the country. The project cost is estimated to be NPR 10 billion. OIBN Joint Secretary Mr. Dharmendra Kumar Mishra thanked the developer for its effort in bringing out the report despite the impact of COVID-19.
On the same day, CG Logistics Pvt. Ltd. and Sharaf Group, the developers of the Multi-model Logistics Park Project to be constructed in Biratnagar, submitted a DFSR of the project to OIBN. A MoU was signed between OIBN and the developers on June 17, 2019, for the task. Similarly, China-Nepal Industrial Park, the developer of Damak Clean Industrial Park, submitted a DPR of the project to OIBN on December 14, 2020. The 39th meeting of the Investment Board Nepal, held on July 2, 2019, approved investment worth USD 586.1 million for the project. The project is being constructed in Damak, Jhapa district of Province 1 through the joint investment of Lhasa Economic and Technology Development Zone Jing Ping Joint Creation Construction Project Development Co. Ltd. (JPJCCPD) and Damak Clean Industrial Park. A MoU was signed on October 3, 2019 to complete the DPR within six months from the signing date. Similarly, Muktinath Darshan Pvt. Ltd. submitted the DPR of Birethanti-Muktinath Cable Car on November 29. The proposed 80.16-km-long cable car will stretch from Birethanti along Ghodepani, Tatopani, Lete, Kowang, Tukuche, Marpha, Jomsom to Muktinath. The cable car route will cover Kaski, Myagdi and Mustang districts of Gandaki Province. The project is estimated to cost around NPR 53 billion. The project will bring in benefits to the national and local economy offering opportunities for the development of tourism, agriculture, and other local businesses in addition to employment and revenue generation. ♦