IBN Approval for Hongshi Group of China
Our client, the Joint Venture between Hongshi Group of China and Shivam Cements of Nepal has been granted foreign investment approval by the Investment Board of Nepal yesterday. The project is estimated to cost Rs. 36 billion (US$ 360 million). This is the second approval that Investment Board has granted to clients advised by G&A, after the approval given to the US$ 400 million project proposed by Reliance Cement, a member of ADA Reliance of India.