64 billion investment approved for park

64 billion investment approved for park
64 billion investment approved for park

Jhapa- Nepal Investment Board has approved construction of industrial park in Jhapa. With the approval of the Investment Board, the China-Nepal Friendship Industrial Park will be constructed in the joint land of Kamal Municipality, Goradah and Damak Municipality of Jhapa Area-1. The meeting approved an investment of Rs 64 billion for the construction of the park.  China’s Lhasa Economic and Technology Development Zone Jing-Ping Joint Creation Construction Project Development Company Limited has approved the investment to build the park, the Investment Board said. The first phase is scheduled to start from October, while the park will be one km wide and nine km in length. A team from China visited the area on the construction of the park in the 2017. Three years after the discussion on the construction of the park began, the meeting of the Investment Board decided to give a detailed project report. The construction of the park has been entrusted to the Damak Clean Industrial Park Pvt. It has been stated that about 14222523/m2( 2100 Bigha) acres of land will be required for the construction of industrial parks. Now, 6379817.46/m2 (942 Bigha) acres of land has been acquired. The locals have been practicing the land that was cut by the Ratuwa river. Work is being done to provide additional land for the area. Now Manuka Kafle, president of the Kamal village, says that the work will take place. “In the first phase, Rs 64 billion has been allocated,” said Kafle. Multinational company to be established.Nandkishore Basnet, president of Industrial Area Management Limited, said that the multinational company established in China would be established in the area after the park was built. Investment approved for park.

Basnet said the company will set up a company to produce mobile phones, vehicles and electronic components. Basnet says this industrial park will assist in transporting its products to all areas of the world market. “Nepal’s investment in the construction of the park is the land provided,” Basnet said, adding that “the duration of the park construction will last for ten years.” Chinese will be said to operate the park for 40 years and then transfer it to Nepal only. Compensation issues The goal is to build a park while protecting the Rutawa River in the middle. The process of shifting has been started by providing compensation to locals living in the park construction area. The land is divided into three stages by flowing water, bronze and cultivable land. However, locals are concerned about the issue of leaving the house after the park is built. Only sixty households in Gauradah Municipality should leave their homes and fields, said Rohit Kumar Sah, chief of Gauradah Municipality. Although the park management committee has been formed, he has not come to cooperate with the municipality.
Kai Maya Daymal Park of Damak Municipality-10 is worried that she will have to leave her house more than happy. “Earlier, we were told to save the slum and park it, now we are going to our house. We have not been told how to provide compensation.” Local representatives are not convinced that the park will be constructed on time. A public representative from Damak municipality said, “Investment has been approved without studying atmospheric conditions; it is also important to be serious about meeting the minimum standards of the initial phase of establishment of the industry.” Chairman Kafle said there was no word yet on the construction of the park in time. The Chinese company said that it would take time to build the park at the time. Locals hope to find employment in the area as the park is being discussed. Local Padma Kumari Bk says that local people should be provided employment after the park is built. In the context of employment, son-grandson should create a situation where he does not have to go abroad, BK said. Representatives believe that hundreds of people will be employed after the park is constructed and after construction. Employment opportunities will be created not only for Jhapali but also for youth across the country, said Menuka Kafle, president of Kamal Village. The industry management committee said that the product will be transported to the world market. Investment approved for park .

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