China to provide Rs 11bn grant to upgrade Ring Road from Kalanki to Basundhara

KATHMANDU: The Chinese government will provide a grant of Rs 11 billion for the second phase of Ring Road expansion.

The agreement was signed today at the ministry by Sunil Lamsal, minister responsible for the Ministry of Physical Infrastructure and Transport (MoPIT) and the Ministry of Urban Development (MoUD), and Zhang Maoming, Chinese ambassador to Nepal.

Under the agreement, the Ring Road will be expanded from Kalanki to Basundhara. The first phase covered the expansion from Koteshwor to Kalanki.

At the signing ceremony, Minister Lamsal said he was committed to preventing problems during implementation and will provide immediate facilitation to resolve any issues. He said constructing roads that connect the north and south is a government priority and expressed confidence that Chinese investment in the country’s infrastructure will continue to grow.

Ambassador Zhang said many Chinese investors are interested in investing here if a suitable investment environment is established.

(With inputs from RSS)