KATHMANDU, APR 15, 2012
The government is eying big foreign investments in Nepal Investment Year (NIY) 2012-13, but the year 2069 will also see huge domestic investments.
With the peace process gaining momentum and political parties showing seriousness in drafting the constitution, the country’s leading business houses say they could start implementing their projects that were differed due to political uncertainties.
Hydro-power, tourism and cement are the areas on which business houses have set their sights. Given the government working on some mega-infrastructure projects in hydro-power, roads and aviation, the prospects of cement industries look brighter.
Realizing these opportunities, Saurav Group is gearing up to establish one of the country’s largest cement factories in Ramnagar, Nawalparashi with an investment of Rs 3.6 billion.
Murakra Organization is investing Rs 1 billion to enhance the capacity of its Arghakhanchi Cement Factory. Once it’s done, the factory’s daily output will increase to 1,600 tonnes from the existing 700 tonnes. “This will create employment for an additional 200 people,” said Pashupati Murarka, director of the organisation.
Murarka says hydro-power is another area where his group will get into. “Last year, we invested in Charnawati Hydro Project and this year, Lower Charnawati will be initiated” he said.
Chaudary Group, IME Group and Vaidya Organisation are the other business groups looking at the hydropower sector. Vaidya Organization President Suraj Vaidya, who is also the president of the Federation of Nepalese Chamber of Commerce and industry, said his group will invest $21 million in the hydro-power sector. Construction of a 12-MW hydro project near Pokhara will start soon. Vaidya is also investing in tourism, setting up a hotel in Pokhara. The 60-room hotel will be a wellness spa, according to Vaidya. “We are investing $5 million in this project.”
IME Group is also interested in the tourism sector. “We are making foray into tourism sector this year,” said IME Group Chairman Chandra Prasad Dhakal. He, however, did not divulge details.
The cash-rich Khetan Group’s priority is the service sector. Chairman Rajendra Khetan said his group will initiate an integrated project that includes a hospital, a medical college and a management college. “We will invest a minimum of Rs 1.5 billion in this project,” said Khetan.
Khetan Group also plans to consolidate its banking and insurance business and increase capital in its two insurance companies—Prime Life Insurance and Everest Insurance. “The service sector has always been our priority and we will extend this sector will full zeal this year,” said Khetan.
Jyoti Group is modernising Himal Steel that completed 50 years of operation last year. Director Saurav Jyoti said they will also foray into health sector. “We are yet to finalise the specific segment, but we will invest,” said Jyoti. The group has invested in Grande International Hospital being constructed in Dhapasi, Kathmandu and will invest Rs 150 million to set up a factory for medical equipment, according to Jyoti. Also on the card is a commercial agro farm in Birgunj.
HP Agrawal Group is investing over Rs 500 million to set up a sugar mill in the Eastern Nepal. “The new factory will provide employment to around 400 individuals,” said Manish Agrawal, director of the group.
Despite prolonged labour problem, Surya Nepal is working on its expansion drive. Ravi KC, corporate vice president of Surya Nepal, said the company will now venture into agribusiness. KC said the company will establish a dairy plant on the premises of its closed garment factory in Biratnagar. “Before setting up the dairy plant, we will launch a campaign to attract farmers towards cattle farming and instal milk chilling and collection centres across the country,” said KC.
Source: Kantipur
The government is eying big foreign investments in Nepal Investment Year (NIY) 2012-13, but the year 2069 will also see huge domestic investments.
With the peace process gaining momentum and political parties showing seriousness in drafting the constitution, the country’s leading business houses say they could start implementing their projects that were differed due to political uncertainties.
Hydro-power, tourism and cement are the areas on which business houses have set their sights. Given the government working on some mega-infrastructure projects in hydro-power, roads and aviation, the prospects of cement industries look brighter.
Realizing these opportunities, Saurav Group is gearing up to establish one of the country’s largest cement factories in Ramnagar, Nawalparashi with an investment of Rs 3.6 billion.
Murakra Organization is investing Rs 1 billion to enhance the capacity of its Arghakhanchi Cement Factory. Once it’s done, the factory’s daily output will increase to 1,600 tonnes from the existing 700 tonnes. “This will create employment for an additional 200 people,” said Pashupati Murarka, director of the organisation.
Murarka says hydro-power is another area where his group will get into. “Last year, we invested in Charnawati Hydro Project and this year, Lower Charnawati will be initiated” he said.
Chaudary Group, IME Group and Vaidya Organisation are the other business groups looking at the hydropower sector. Vaidya Organization President Suraj Vaidya, who is also the president of the Federation of Nepalese Chamber of Commerce and industry, said his group will invest $21 million in the hydro-power sector. Construction of a 12-MW hydro project near Pokhara will start soon. Vaidya is also investing in tourism, setting up a hotel in Pokhara. The 60-room hotel will be a wellness spa, according to Vaidya. “We are investing $5 million in this project.”
IME Group is also interested in the tourism sector. “We are making foray into tourism sector this year,” said IME Group Chairman Chandra Prasad Dhakal. He, however, did not divulge details.
The cash-rich Khetan Group’s priority is the service sector. Chairman Rajendra Khetan said his group will initiate an integrated project that includes a hospital, a medical college and a management college. “We will invest a minimum of Rs 1.5 billion in this project,” said Khetan.
Khetan Group also plans to consolidate its banking and insurance business and increase capital in its two insurance companies—Prime Life Insurance and Everest Insurance. “The service sector has always been our priority and we will extend this sector will full zeal this year,” said Khetan.
Jyoti Group is modernising Himal Steel that completed 50 years of operation last year. Director Saurav Jyoti said they will also foray into health sector. “We are yet to finalise the specific segment, but we will invest,” said Jyoti. The group has invested in Grande International Hospital being constructed in Dhapasi, Kathmandu and will invest Rs 150 million to set up a factory for medical equipment, according to Jyoti. Also on the card is a commercial agro farm in Birgunj.
HP Agrawal Group is investing over Rs 500 million to set up a sugar mill in the Eastern Nepal. “The new factory will provide employment to around 400 individuals,” said Manish Agrawal, director of the group.
Despite prolonged labour problem, Surya Nepal is working on its expansion drive. Ravi KC, corporate vice president of Surya Nepal, said the company will now venture into agribusiness. KC said the company will establish a dairy plant on the premises of its closed garment factory in Biratnagar. “Before setting up the dairy plant, we will launch a campaign to attract farmers towards cattle farming and instal milk chilling and collection centres across the country,” said KC.
Source: Kantipur
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