Wednesday, 14 April 2021 10:40 GMT

Chinese firm to establish a factory in Nepal


( MENAFN ) Investment Board Nepal (IBN) has signed a Project Investment Agreement (PIA) with Huaxin Cement Narayani Private Limited, to establish a cement factory in Nepal.

The PIA comes weeks after the Department of Mines and Geology of Nepal awarded a limestone mine in Dhading district in central Nepal to the Chinese company.

IBN's CEO said: "This agreement has conveyed message to the foreign investors that Nepal is attractive place to invest, once the company starts producing cement, there will be availability of quality cements."

According to the IBN, Huaxin will be establishing its cement factory soon. "After acquiring mine, it now can find location of setting up the factory," an official of the IBN said.

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