World News | IBN Signs Agreement with Dabur Nepal to Allow It to Inject Additional Investment of Rs 9.68 Billion
Get latest articles and stories on World at LatestLY. The Investment Board Nepal (IBN) on Thursday signed a Memorandum of Understanding (MoU) with Dabur Nepal, a subsidiary of Dabur India, paving the way for the Indian multinational company to inject Rs 9.68 billion additional investment in its projects.
Kathmandu, Apr 27 (PTI) The Investment Board Nepal (IBN) on Thursday signed a Memorandum of Understanding (MoU) with Dabur Nepal, a subsidiary of Dabur India, paving the way for the Indian multinational company to inject Rs 9.68 billion additional investment in its projects.
The IBN, a government of Nepal entity, and Dabur Nepal inked the MoU to build, operate and manage capacity enhancement and product diversification projects in the form of re-investment under private investment concept, according to a press release issued by IBN.
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The MoU was inked by IBN CEO Sushil Bhatta and Business Head of Dabur Nepal Harkirat Singh Bedi in the presence of Minister for Industry, Commerce and Supplies Ramesh Rijal here.
The 49th meeting of the IBN endorsed the proposal for the capacity enhancement and product diversification on February 8, 2022. As proposed by the company, an additional amount of Rs 9.68 billion will be injected in the project.
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Speaking of the occasion, Bedi said that the company was able to invest part of its earnings in capacity enhancement and product diversification.
Dabur Nepal's decision to re-invest its profit in the business shows trust, confidence and abundant possibility of business expansion shown by foreign investors in Nepal, said Bhatta.
This will spread a positive message among the foreign investors, Rijal said.
Dabur Nepal is the manufacturer of popular drink Real Juice and various herbal cosmetic products such as Dabur hair oil.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)