China to Provide Rs 11 Billion Grant for Ring Road Expansion Second Phase

 Kathmandu, April 30: The Chinese government is set to provide a grant assistance of Rs 11 billion for the implementation of the second phase of the Ring Road Expansion Project.

According to the Ministry of Physical Infrastructure, Transport and Urban Development, an agreement on cooperation was signed on Wednesday at the ministry between Minister Sunil Lamsal and Chinese Ambassador to Nepal Zhang Maoming.

Under the agreement, the Ring Road will be expanded from Kalanki to Basundhara. In the first phase, the road section from Koteshwor to Kalanki had already been widened.

Speaking at the signing ceremony, Minister Lamsal said the government would not allow any obstacles in the implementation of the project and assured that immediate facilitation would be provided if any issues arise.

He stated that the construction of north-south connecting roads remains a government priority and expressed confidence that China would further increase its investment in Nepal’s infrastructure development.

Ambassador Zhang said many Chinese investors are interested in investing in Nepal if a favourable investment environment is created.