Dabur is planning to further invest Rs. 9.68 billion in Nepal. The Investment Board Nepal and Dabur Nepal Pvt. Ltd. have signed an MoU for the construction, operation, and management of capacity building and product diversification projects under the private investment concept.
Although the Investment Board Nepal had approved the additional investment by Dabur in February last year, the MoU was signed only now.
Sushil Bhatt, CEO of Investment Board Nepal, and Harkirat Singh Bedi, Business Head at Dabur Nepal, signed the MoU on behalf of the respective parties. Ramesh Rijal, Nepal’s Minister for Industry, Commerce, and Supplies, was also present on the occasion, according to a press statement issued after the signing ceremony.
In actuality, Dabur had sought to make additional investments in Nepal before the outbreak of the COVID pandemic, but it was kept pending due to the prolonged COVID wave in Nepal and India. As per the proposal, Dabur Nepal, which produces various kinds of beverages, beauty, and healthcare products in Nepal, will increase its capacity enhancement and diversification. After signing the MoU, Bedi expressed his happiness at investing a part of the company’s accumulated capital in Nepal for capacity enhancement and diversification of products.
The Investment Board Nepal is a special vehicle of the government of Nepal that has the authority to approve and facilitate any investment above Rs 6 billion in the country.