CRCC expresses interest to invest in 27-km Ring Road Monorail Project
Kathmandu, September 13
China Railway Construction Corporation (CRCC) — the firm that had bagged the contract to conduct feasibility study of the much-hyped Ring Road (Chakrapath) Monorail Project in Kathmandu Valley — today submitted its report to the government terming the project as ‘feasible’ and determining the project cost at Rs 116 billion.
The state-owned construction company of China submitted the feasibility study report of 27-kilometre project to the respective mayors of Kathmandu Metropolitan City (KMC) and Lalitpur Metropolitan City (LMC) amid a programme in the Capital today.
On May 26, KMC and LMC had signed a memorandum of understanding with CRCC to conduct the feasibility study of the proposed monorail project in the Valley. Though CRCC had been given six months to conduct the study, it prepared the report within three-and-a-half months.
As per the report, the entire monorail project can be completed within three years and it will cost around Rs 100 billion if the government grants necessary land for the project. “After the approval from the Nepal’s government, the project’s detailed project report (DPR) will be prepared within six months and the entire construction works can be accomplished within next two-and-a-half years,” states the report.
The first-of-its-type monorail project in the country will have 17 stations, and be able to transport 3,000 passengers at the speed of 100 kilometres per hour, as per the feasibility report.
Of the project’s total length, almost seven kilometres falls in Lalitpur while the remaining section will pass through Kathmandu.However, the report has raised concerns over hassles in moving the project through densely populated Chabahil-Gausala section.
“Along with submitting the report, CRCC has also expressed its interest to invest in the project,” informed Nama Raj Dhakal, assistant spokesperson for KMC.
As per Dhakal, KMC will now study the report and hold consultations with the concerned government officials. If the project gets the nod from the government, Dhakal said that KMC will take necessary steps so that the construction of the project can proceed further.
“The report has termed the project ‘feasible’ financially, socially and technically. Now it is up to the government to decide the project’s fate and construction and financial modalities,” added Dhakal.
KMC plans to construct the monorail project under build, own, operate, transfer (BOOT) model.
Realisation of the Ring Road (Chakrapath) Monorail Project is expected to be crucial in improving Valley’s public transportation and traffic.
Meanwhile, receiving the report from CRCC, KMC Mayor Bidya Sundar Shakya and LMC Mayor Chiri Babu Maharjan expressed their commitments to expedite the monorail project.
The Investment Board of Nepal (IBN) had initially announced that the contract to conduct the feasibility study of the project would be awarded to Kathmandu Monorail Company Pvt Ltd (KMCPL) in December 2016. However, as the IBN and KMCPL haggled over some of the conditions set in the draft memorandum of understanding to conduct detailed project report, KMC had inked an agreement with CRCC for conducting a feasibility study of the project on May 26.
Two days later, the Supreme Court had issued an order barring the IBN from implementing the provisions of the MoU signed with KMCPL and the apex court is yet to give its final verdict on the issue.
The post Valley’s monorail project to cost Rs 116 billion appeared first on The Himalayan Times.
Written by Sandeep
This news first appeared on https://thehimalayantimes.com/business/valleys-monorail-project-to-cost-rs-116-billion/ under the title “Valley’s monorail project to cost Rs 116 billion”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
