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News Nepalese investment body delays signing agreement with Hongshi-Shivam Cement

Nepalese investment body delays signing agreement with Hongshi-Shivam Cement

Written by Global Cement staff
22 August 2017
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Nepal: The Investment Board Nepal has delayed signing a Project Investment Agreement (PIA) with China’s Hongshi-Shivam Cement due to ‘technical reasons.’ The joint venture is currently building a US$360m cement plant at Nawalparasi. The deal, which would have protected the interests of the foreign investor, has been deferred while Prime Minister Sher Bahadur Deuba visits India in late August 2017, according to the Kathmandu Post newspaper. Sources quoted by the newspaper attribute the delay to tensions perceived by the Nepalese government regarding infrastructure projects backed by India and China. The agreement is expected to be signed on 3 September 2017.

Last modified on 23 August 2017
Published in Global Cement News
Tagged under
  • Nepal
  • Hongshi Shivam Cement
  • China
  • India
  • Government
  • Investment Board Nepal
  • GCW316

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