Two Chinese firms have given letters of interest to the Kathmandu Valley Development Authority (KVDA) to develop the outer Ring Road, reports The Kathmandu Post.
- The two firms are: China Railway Engineering Consulting Group (CRECG) and China Energy Engineering Corporation (CEEC). They have been asked to submit their business proposals to KVDA soon.
- Last April, the Ministry of Urban Development approved the first phase of the project, a 6.2 km road between Chobhar and Satungal.
- The project was then delayed for many months due to land acquisition disputes.
- The project covers 72 Km Outer Ring Road and has to acquire 9,000 ropanis of land in Chobhar and Satungal. The land acquisition is estimated at Rs. 20 billion.
- The road, once built, is expected to ease the growing traffic in Kathmandu Valley.