Nepal, June 5 -- The 64th meeting of the Investment Board Nepal (IBN) has approved investment for the Muktinath Cable Car Project and decided to move forward with various other projects.

Chaired by Prime Minister and IBN Chair KP Sharma Oli, the board meeting held Thursday at the Prime Minister's residence in Baluwatar approved the proposed investment for the Muktinath Cable Car Project. The cable car is planned to span 81.041 kilometers with seven stations, running from Seraphant (Birethanti-New Bridge) in Parbat to Muktinath in Mustang.

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The project, with an estimated cost of Rs 57.64 billion, has been proposed by Muktinath Darshan Pvt Ltd under the Build, Own, Operate, and Tran...