India releases Rs 470m for Postal Highway
Kathmandu, August 14
Indian Ambassador to Nepal Manjeev Singh Puri handed over a cheque worth Rs 470 million to Secretary at the Ministry of Physical Infrastructure and Transport Madhusudan Adhikari in Singha Durbar today.
The amount was released to maintain fund liquidity for the ongoing construction of 14 road packages under the Postal Highway Project, stated a press release issued by the Embassy of India.
With this payment, a total of Rs 2.35 billion stands released to the Government of Nepal out of the total grant assistance of Rs 8.00 billion committed by the Government of India for implementing 14 packages under packages 2-6 of phase I of the Postal Highway Project.
According to the release issued by the Indian Embassy, package 1 of the project comprises two roads — Dhangadi-Bhajaniya-Satti and Lamki-Tikapur-Khakraula. Construction of these two roads have already been completed with the Government of India’s grant assistance worth Rs 1.02 billion.