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Tuesday, February 19, 2019

Interest groups ploy to put investment worth billions in jeopardy: Chhaya Centre

Kathmandu, February 19

Vested interest groups are trying to put over Rs five billion in jeopardy, as they have started raising “unnecessary” question over ownership of the land where Chhaya Centre, a multi-faceted mega complex, has been built, according to promoters of the Thamel-based complex.

This conspiracy, they said, could erode investor confidence in the country, which is all set to host the Investment Summit to attract foreign investors.

Built on around 12 ropanis of land, Chhaya Centre, dubbed the mini Thamel, houses 200 retail stores, including international highend brand outlets, multiplex theatres, corporate offices, a banquet centre, conference halls, food court and a grand underground parking lot. The complex, built at a cost of Rs 5.5 billion, formally launched its operation in December.

“Chhaya Complex is a mega project and almost three dozen businesspersons have invested in it,” Suman Pandey, one of the promoters of Chhaya Centre, told a press meeting today. “However, a certain group is actively trying to jeopardise the project.”Pandey’s statement comes at a time when promoters of the project are facing accusations of encroaching upon the archaeological site known as Kamal Pokhari to build the complex.

Chhaya Centre today said those accusations were false and it had abided by the law to acquire the land and build the complex.

“These rumours are being spread by certain vested groups,” said Pandey, adding, “Kathmandu Metropolitan City has already issued construction completion certificate to the complex and public hearing was conducted before the structure was built to ensure there was no dispute in the future.”

The ownership of the land where Chhaya Centre is built has been transferred multiple times in the past. “The ownership has now been transferred to us and all legal processes were fulfilled before the complex was built,” said Pandey.

When questioned why some of the locals were protesting against the project, Pandey said the promoters of the complex had discussed the plan to build the complex with locals in the past and they had not voiced disapproval at that time. Maheshwor Shrestha, managing director of Chhaya Center, said a certain group has hatched a ploy to put the project in jeopardy. “Other projects have also faced such problems. The government should control such extortionist tendencies,” Shrestha said.

The post Interest groups ploy to put investment worth billions in jeopardy: Chhaya Centre appeared first on The Himalayan Times.



from Business – The Himalayan Times https://ift.tt/2TWwGLv

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