Nepal | November 30, 2020

Govt opens own construction company

Himalayan News Service
Share Now:

Kathmandu, July 14

Stating that the private construction companies have been continuously causing delays in public construction works citing various reasons, the government has opened its own construction company named Nepal Infrastructure Construction Company (NICC), which has been registered at the Office of the Company Registrar.

The government has said that with the establishment of its own construction company the private construction companies will now be more diligent and accelerate development works as per the government’s necessity.

The government has stated that NICC will work in tunnel construction and large size construction activities including all types of government construction works. The company has been set up with authorised capital of Rs 10 billion and issued capital worth Rs three billion.

The Ministry of Finance, the Ministry of Energy, Water Resources and Irrigation, the Ministry of Physical Infrastructure and Transport and the Ministry of Urban Development are the institutional shareholders of NICC and hold 7.5 million shares in total.

According to Rajeshwor Gyawali, spokesperson for the Ministry of Physical Infrastructure and Transport, the company has been given executive rights to execute major construction works. “The company will construct roads, airports, fast track roads, highways, dry ports, ports, canals, pipelines, substations and transmission lines, among others,” he added.

As per him, the government has given NICC the authority to conduct studies related to the engineering aspects of the aforementioned works including pre-feasibility, feasibility, investigation, design, management, detailed feasibility study, detailed project report environment impact assessment, among others.

“What has to be made clear is that the NICC has not been established to compete with the private sector and it will focus on accelerating the government initiated projects,” Gyawali said.

The company will have seven directors in its board from the energy ministry, physical infrastructure ministry and urban development ministry as founding members. Moreover, representatives of the Ministry of Industry, Commerce and Supplies, the Ministry of Law, Justice and Parliamentary Affairs and the Ministry of Drinking Water will also be involved as members of the company.

“We have planned to immediately open an office for the company and frame necessary guidelines to operate it,”

Gyawali said, adding that the government will hire employees through open competition.

The company will also provide training for capacity enhancement and other construction related works to Nepali contractors.

Meanwhile, the government had established National Construction Company Nepal in 1961, however since it faced continuous losses it was closed down in 2010.

A version of this article appears in print on July 15, 2019 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

National Covid-19 tally reaches 231,978 on Sunday with 1255 fresh infections

KATHMANDU: The countrywide Covid-19 tally reached 231,978 as 1255 additional infections emerged on Sunday. The capital hosts the highest amount of active cases which, on an average, reports half of the daily reported live infections. Likewise, 1404 people who were earlier infected with the vir Read More...

25 more fatalities registered today; Covid-19 death-toll advances to 1,479

KATHMANDU: Twenty-five more fatalities were reported in the last 24 hours with which Nepal’s Covid-19 death-tally has now advanced to 1,479. Meanwhile, 1,255 fresh coronavirus cases as reported today took the nationwide coronavirus case count to 231,978. Over 1.4 million deaths from the dis Read More...

Kathmandu Valley records 548 new cases on Sunday

KATHMANDU: The three districts of Kathmandu Valley reported a total of 548 new cases of coronavirus infection on Sunday. Of the new cases, 244 are females and 304 are males. As many as 422 cases were recorded in Kathmandu district while Lalitpur and Bhaktapur reported 61 and 65 cases respectiv Read More...

Smith hits second straight ton as Australia post 389-4 vs India

SYDNEY: Steve Smith led an imperious display from Australia's top-order batsmen with his second straight century as the hosts piled on a massive 389 for four against India's listless bowlers in the second one-day international in Sydney on Sunday. The match followed a script similar to Fr Read More...

Chinese Defence Minister calls on PM Oli

KATHMANDU: Chinese Defence Minister Wei Fenghe has called on Prime Minister KP Sharma Oli at the latter's official residence in Baluwatar. The State Councilor and Defence Minister of China arrived here this morning on a one day official visit. Fenghe had asserted that his short visit to Ne Read More...

Bayern made to sweat for 3-1 win at Stuttgart

STUTTGART: Kingsley Coman scored one goal and set up another as Bayern Munich came from a goal down to beat VfB Stuttgart 3-1 on Saturday and stay top of the Bundesliga. It was the seventh consecutive game that Bayern, who face Atletico Madrid in the Champions League next week, conceded a goa Read More...

Liverpool held, City on fire and Everton lose again

LONDON: Liverpool were held to a 1-1 draw at Brighton after conceding a VAR-inspired stoppage-time penalty while Riyad Mahrez scored a hat-trick in Manchester City's 5-0 crushing of Burnley in the Premier League on Saturday. Carlo Ancelotti's Everton suffered their fourth defeat in five games aft Read More...

Worldwide coronavirus cases cross 62.06 million, death toll at 1,450,479

LONDON: More than 62.06 million people have been reported to be infected by the novel coronavirus globally and 1,450,479​ have died, according to a Reuters tally. Infections have been reported in more than 210 countries and territories since the first cases were identified in China in December Read More...