Sino-Nepal Friendly Industrial Park with 65 Billion Chinese Investments

March 16, Kathmandu. Prime Minister KP Sharma Oli on Sunday laid the foundation of the Sino-Nepal Friendship Industrial Park, which is the largest in Nepal and a model in South Asia. According to a Chinese company, the construction of the park on an area of ​​1,422.25 hectares between the Ratuwa and Mawa rivers in Damascus, Jhapa will be completed within two years.

Chinese company Lhasa Economic and Technology Development Zone Jingping Joint Construction Company has been tasked with the construction and operation of the industrial park to be built under China’s ambitious Belt and Road Initiative (BRI).

As per the agreement reached by the Investment Board in September 2018, Chinese investment of NRs will enter the park at various stages. The construction company has claimed that construction work of the park spread in Damak and Gauradha municipalities of Jhapa and Kamal villages will start after three weeks.

Characteristic of an industrial park

Govinda Thapa, president of the Sino-Nepal Friendship Industrial Park, said the park would be the largest in Nepal and a model in South Asia in terms of investment, size and production after operations. The park, which claims to employ one lakh people, will have 491 different types of industrial plants in all phases.

The industrial park will have five main types of industries and two separate parks for logistic support and information technology and training.

Chairman Thapa said that within the industrial park, industries such as household goods manufacturing, white goods industries, transport manufacturing industries, textile and apparel manufacturing industries, food processing and electronic information technology manufacturing industries will be opened.

He said that everything from electric vehicles to mobiles will be built in the park. The company said that inside the park there will be schools for children to study, health institutions for health care and green environment friendly environment.

Chairman Thapa said the park would feature Nepal to attract foreign investment, transfer technology, manage employment and supply products from Nepal to the world market through high-tech companies.Claim to bring 65 billion investment

The detailed project report (DPR) and environmental impact study report prepared by the construction company are now in the final stages of evaluation. Construction of the park will begin in three weeks after both the reports are approved in a few days.

For the first time, a team of Chinese engineers has returned to the field, and within the next three weeks, they will return for soil testing.

Park president Govinda Thapa said that the land acquisition work has been completed in the initial phase. He said that Rs 2 billion has been invested in the project so far and a total of Rs 65 billion will be invested in the construction of the park in six phases.

After the Chinese company operated it for 30 years, an agreement has been reached between the Investment Board and the Chinese company to hand over the park to the government.

‘Made in Nepal in the world market’

According to the park management, world-renowned companies are ensured entry into the park in Nepal, which is close to India, Bhutan and Bangladesh. Thapa said that so far 26 such companies have been confirmed to be inside the industrial park and the remaining 98 are in process.

He claims that important commodities needed for consumption in the world market will now be produced in Nepal.

Thapa said, “Everything about those companies cannot be immediately disclosed due to confidentiality, but now ‘Made in Nepal’ items will reach the world market.” In the first phase, agricultural and food industries, textiles and electric vehicles will be produced in the agricultural park. Chairman Thapa said that the path would remain open for Nepalese companies to visit the park.

Source: OnlineKhabar

Himal Sanchar