KATHMANDU: The Investment Board Nepal (IBN) approved nine major projects in the latest fiscal year, totaling a total of Rs 271.26 billion. On Thursday, the board sent Prime Minister KP Sharma Oli its annual report, which highlighted large investments in the hydropower industry.

With a 900 MW capacity and an investment of Rs 162.49 billion, the Upper Karnali Hydroelectric Project was the largest permitted project. The second-largest was the Rs 34.59 billion Super Tamor Hydropower Project, which has a 166 MW capacity. A 250 MW solar energy venture in Kohalpur and Banganga, with an investment of Rs 21.10 billion, and the 42 MW Upper Modi A Hydroelectric Project, with an investment of Rs 10.08 billion, are two other noteworthy projects.

The IBN also approved several smaller hydropower projects and an additional investment for Huaxin Cement's production plant. The board was established in 2011 to handle large-scale investments and has since adapted to include projects with investments of Rs 6 billion or more and hydropower projects with capacities of 200 MW or greater.

Progress reports included a 75% completion rate for the Arun III Hydropower Project's generation work and 38.21% for transmission lines. Additionally, the IBN has introduced a new Project Monitoring Unit (PMU) Dashboard to enhance the oversight of approved projects.