Nepal,China sign agreement for second phase of ring road expansion

Kathmandu-An agreement related to assistance under the second phase of the Ring Road expansion project has been formally signed on Wednesday.

The agreement was signed between Minister for Physical Infrastructure, Transport and Urban Development, Sunil Lamsal, and Chinese Ambassador to Nepal, Zhang Maoming.

According to the agreement, the second phase will involve the construction of an 8.2-kilometer road section, along with bridges, from Kalanki to Basundhara. The Government of China will provide a grant of approximately NPR 11 billion for the project.

Earlier, the first phase of the project, which began in 2019, successfully completed the expansion of the road from Koteshwor to Kalanki.

Following the signing, Minister Lamsal expressed commitment to resolving any issues arising during project implementation within a day and ensuring necessary facilitation. He also stated that road connectivity linking north and south remains a government priority and expressed hope for increased Chinese investment in Nepal’s infrastructure development.

Similarly, Ambassador Maoming noted that with a favorable investment environment, many Chinese investors are willing to invest in Nepal.