Kathmandu: Dabur Nepal is injecting Rs 9.68 billion into its production plant based in Nepal, with the Investment Board Nepal (IBN) approving the investment amount for the company on Tuesday.

According to IBN, the multinational company has proposed investing the aforementioned amount for product diversification and capacity enhancement of its production units. The company has been targeting to expand its capacity mainly in production of beverages including fruit juice.

Of the amount, Dabur Nepal will be funding Rs 6.60 billion out of short-term loans and Rs 500 million out of long-term loans from local banks. The remaining amount will be invested from the company’s own sources.

Dabur Nepal holds 97.5 percent share of Dabur International Limited while the remaining 2.5 percent share is held by Nepali investor Rukma Shumsher Rana. The products of Dabur Nepal hold a 5.34 percent share in the country’s total export earnings.

The 49th board meeting of IBN also approved Central Electronics Limited to carry out the feasibility study of 23 billion solar power projects in Sudurpaschim Province. Of the proposed 350 MW projects, a power plant of 125 MW will be installed in Dipayal-Siligadhi Municipality of Doti district and another of 225 MW will be installed in Amargadhi Municipality of Dadeldhura district.

Similarly, the government body also approved the inception report on the construction, ownership, operation and transfer of Lower Arun Hydropower Project prepared by SJVN Limited India.