India hands over Rs 529.72m
Kathmandu, May 29
The Government of India today handed over Rs 529.72 million to the Government of Nepal for India-assisted Postal Highway Project.
Indian Embassy Deputy Chief of Mission Ajay Kumar handed over the cheque to the Ministry for Physical Infrastructure and Transport Secretary Madhusudan Adhikari in Singha Durbar, today.
The amount was released for paying 25 per cent of tendered cost (including 10 per cent mobilisation advance) of the two road packages — Birgunj-Thori road being implemented under the Postal Highway Project.
With this payment, the Government of India has handed over a total of Rs 1.88 billion to the Government of Nepal for implementing 14 packages of the Postal Highway Project, according to a statement issued by the embassy.
So far, construction of two roads on the Hulaki Rajmarga — Dhangadi-Bhajaniya-Satti road and Lamki-Tikapur-Khakraula road — have been completed with Government of India’s grant assistance worth Rs 1.02 billion, according to the statement.
Since 1950, the Government of India has been supporting infrastructure development of Nepal and has provided financial assistance for construction of various Highways, Roads, Bridges, Airports, etc. as part of its multi-sectoral and multi-dimensional India-Nepal Economic Cooperation Programme, added the statement.