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KATHMANDU, April 27 (PTI) — The Investment Board of Nepal (IBN) on Thursday signed a Memorandum of Understanding (MoU) with Dabur India’s subsidiary Dabur Nepal, paving the way for an additional investment of Rs 9.68 billion in the Indian multinational. up the road. its items.
According to a press release issued by IBN, Nepalese entity government IBN and Dabur Nepal have signed a memorandum of understanding to build, operate and manage capacity enhancement and product diversification projects in the form of reinvestment under the private investment concept.
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The MoU was signed by IBN CEO Sushil Bhatta and Dabur Nepal Harkirat Singh Bedi’s Head of Operations in the presence of Industry, Commerce and Supply Minister Ramesh Rijal.
The 49th meeting of the IBN on February 8, 2022 approved proposals for capacity enhancement and product diversification. According to the company’s proposal, the project will receive an additional capital injection of 9.68 billion rupees.
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Speaking of the occasion, Brady said the company was able to invest some of the proceeds in increasing production capacity and diversifying its products.
Bhatta said Dabur Nepal’s decision to reinvest its profits in the business shows that foreign investors have shown trust, confidence and great potential for business expansion in Nepal.
This will spread a positive message among foreign investors, Rijal said.
Dabur Nepal is the manufacturer of the popular drink Real Juice and various herbal cosmetics like Dabur Hair Oil.
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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