Kathmandu, April 21

The contract for construction of Kathmandu view tower has been extended by a year.

Kathmandu metropolis extended the contract even though the construction work has made no substantial progress.

As per the existing contract, 50 per cent of the work should have been completed as of now. Only 80 per cent of the underground work has been completed and hence the deadline has been extended by a year, head of the metropolis public-private partnership unit Dhruva Kafley said. As per the existing rule, the deadline can be extended once only during project execution phase.

Jaleswar, Swaschanda and Bikoi joint venture had begun construction of the view tower three years ago. As per the agreement, the company will run the building for 30 years upon completion. The project is estimated to cost Rs 3.5 billion. Spread over an area of 23 ropani, the view tower premises will house a bus park, a cinema hall, a swimming pool, a bank and metropolis ward offices.