China Pledges Rs 11 Billion for Second Phase of Kathmandu Ring Road Expansion

Kathmandu. An agreement related to assistance for the second phase of the Ring Road expansion was formally concluded on Wednesday. The agreement was signed between the Minister for Physical Infrastructure and Transport and Urban Development, Sunil Lamsal, and the Chinese Ambassador to Nepal, Zhang Maoming, according to the secretariat of Minister Sunil Lamsal.

According to the agreement, the second phase of the Ring Road expansion will involve the construction of an 8.2-kilometer road and bridges from Koteshwor to Kalanki. The Chinese government will provide approximately Rs 11 billion in grants for this project.

The first phase, which began in 2019, saw the completion of the road expansion from Koteshwor to Kalanki. Following the agreement, Minister Lamsal pledged to resolve any issues that arise during the project's implementation within a day and provide necessary facilitation.

He mentioned that the construction of north-south connecting roads is a priority for the government and expressed expectations for further investment from the Chinese government in Nepal's infrastructure development.

Similarly, Chinese Ambassador Maoming stated that many Chinese investors are willing to invest in Nepal if a suitable investment environment is created.