The Investment Board Nepal (IBN) has issued the survey license of the 327 MW Upper Marsyangdi-2 Hydroelectric Project (UM2HP) to Himtal Hydropower Company.

IBN Chief Executive Officer Sushil Bhatta on Sunday handed over the permit to the company. Speaking at a program organized to mark the occasion, Bhatta urged the company to submit the detailed project report within the stipulated time. The IBN signed a memorandum of understanding with the company on August 31.

UM2HP is a high head, peaking run of river type project located along the Marsyangdi River in Manang and Lamjung district of Gandaki Province. The project site is located in the Annapurna Conservation Area.

The catchment area at the project’s headwork is 2,268 square km. The dam site of the proposed project will be located about 2 km upstream of Tal village.

The project can generate 1,934 GWh of electricity annually. The estimated cost of the project is USD 647.1 million.