Rs 1.5 billion industry aims to promote local production, reduce imports, and boost sustainable construction Everest Fiber Cement Board Industry, Nepal's first-ever manufacturer of international quality fiber cement board with an investment of Rs 1.5 billion by IME Group, has officially begun operations. Global IME Bank inaugurates EV charging station at corporate office Nima Rinji, Purnima become UNDP Nepal's first climate influencers Minister for Industry, Commerce and Supplies Damodar Bhandari inaugurated the factory at a program in Kathmandu on Wednesday and unveiled the new line of fiber cement boards and related products. Speaking on the occasion, Minister Bhandari said the launch of a high-quality, eco-friendly, and technology-driven industry represents a major milestone in Nepal's industrial growth. He added that such production-oriented investments not only help in import substitution but also promote sustainable development in the construction sector. Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Chairman of IME Group, said the new industry has been established to contribute to the construction sector by using indigenous raw materials and local resources. He highlighted that since the production is based in Nepal, it will create employment within the country and pave the way towards a self-reliant economy by replacing imports and avoiding a large outflow of foreign currency. He added that this industry demonstrates the potential of producing international-standard construction materials within Nepal using local skills, resources, and opportunities. Located in Fatuwa Bijaypur Municipality–6 of Rautahat District, the fully-automated plant has the capacity to produce 75,000 sq. ft. of fiber cement boards daily. The boards-available in 4 ft by 8 ft sizes and thicknesses ranging from 4mm to 30mm-are fire-resistant, weatherproof, flexible, durable, and environmentally friendly, according to the press release issued by the company. The versatile boards can be used in building exteriors, partitions, false ceilings, modular kitchens, and can even replace bricks and plaster, allowing structures to be completed in 10–15 days. They are expected to serve both domestic and international markets, including for emergency shelters during natural disasters such as earthquakes and floods, the release further noted. The company has focused on local employment, with over 200 people employed directly or indirectly, of whom over 98% are locals and more than 40% are women. Workers are involved in various stages from processing to packaging, it further stated. Everest Fiber Cement Board Pvt. Ltd. aims to support the country's construction needs with sustainable, affordable, and high-quality building solutions.