India grants Rs 470m for Postal Highway Project
Aug 15, 2018-
On behalf of the Government of India, the Indian Ambassador to Nepal, Manjeev Singh Puri, on Tuesday presented a cheque of Rs 470 million to Ministry of Physical Infrastructure and Transport Secretary Madhusudan Adhikari at Singha Durbar in Kathmandu.
The amount released will maintain fund liquidity for the ongoing construction of 14 road packages under Postal Highway Project, the Indian embassy said in a statement.
With this payment, India has released Rs 2.35 billion to the Government of Nepal out of the total grant assistance of Rs8.00 billion committed by the Government of India to implement 14 packages under Packages 2-6 of the Phase I of the Postal Highway Project, the statement said.
The Package 1 of the Project comprising two road sections Dhangadhi-Bhajaniya-Satti road and Lamki-Tikapur-Khakraula have already been completed with Government of India’s grant assistance worth Rs 1.02 billion. The two roads opened for service on January 19, 2017. India provides financial assistance to Nepal since 1950 for infrastructure development as part of its multi-sectoral India-Nepal Economic Co-operation Programme.
Published: 15-08-2018 08:03