KATHMANDU: Vice President Nanda Bahadur Pun has today laid the foundation stone of the 29-storey Kathmandu View Tower at Old Bus Park.

The view tower is going to be constructed under the Public Private Partnership (PPP) concept signed between the Kathmandu Metropolitan City and Jaleshwor Swachchhanda Bkoi Builders Pvt Ltd.

A 12-storeyed building would be constructed in the first phase and a target has been set to complete the construction of the view tower within three years. It is estimated that the total expense for the construction of the view tower would be Rs 7 billion.

On the occasion, Vice President Pun expressed the belief that the construction of the view tower, which is linked with the prestige and dignity of the country, would be completed on time.

He said, "Constructing multi-purpose buildings like residence, business among others, is alternative to make the increasing population of Kathmandu valley systematic which is challenging.

Stating that opportunity of new possibility has been started developing after promulgation of the new constitution, Vice President Pun said that changes would be materialized only after the establishment of development, peace and prosperity.

The Vice President said that the government would take initiative to settle the problem seen in course of the constitution writing through political and diplomatic way.

Similarly, State Minister for Local Development and Federal Affairs, Kunti Kumari Shahi, expressed the hope that that the construction task of the view tower would be completed as a model of partnership.

State Minister Shahi also urged the body concerned to fulfill all the determined criteria of the building construction.

Likewise, Executive Officer of the KMC, Rudra Singh Tamang, said that the completion of the biggest project going to be constructed in the country after the Gorkha earthquake would pave the way for the collaboration between the public and private sectors in other development projects too.

Chairman of the construction company, Manoj Kumar Bhetwal, said the modern building of international standard along with ancient art would be constructed.

On the occasion, Prime Minister and Chairman of CPN (UML), KP Sharma Oli; Chairman of the UCPN (Maoist), Pushpa Kamal Dahal; Officiating President of the Nepali Congress, Ram Chandra Poudel; and Deputy Prime Minister and Chairman of the Madhesi Janadhikar Forum (Democratic); Bijaya Kumar Gachchhadar corresponded the wishes for the success of the building construction on time.