According to local press, the Nepal Investment Board, which is led by Prime Minister Sushil Koirala, has approved the Reliance Group’s proposal to build a cement plant in the country. The Indian cement producer plans to invest US$400 million in the new plant, which will be located in the south of the country. As per the reports, the Reliance Group is due to conduct a study into the establishment of the plant in the central or eastern Terai region of Nepal’s southern plains.
The Board has also approved a hydropower project by India’s Satluj Jal Vidyut Nigam Limited.
Reliance Cement Company has expanded its operations into India’s Bihar state, where the cement market is expected to grow at a rate of 9% over the next few years.