Indian release Rs 470 million for Postal Highway Project
August 14, 2018 06:56 PM NPT
KATHMANDU, Aug 14: The government of India has released the amount of Rs 470 million for the postal highway project.
Issuing a press statement on Tuesday by the Embassy of India, it has been mentioned that the amount has been released to maintain fund liquidity for the ongoing construction of 14 road packages under Postal Highway Project.
“With this payment, a total of Rs 2.35 billion stands released to the Government of Nepal out of the total grant assistance of Rs 8.00 billion committed by the Government of India for implementing 14 packages under Packages II-6 of Phase I of the Postal Highway Project”, the statement reads.
Indian ambassador Manjeev Singh Puri handed over the amount cheque to Madhusudan Adhikari, secretary for Ministry of Physical Infrastructure and Transport at Singha Durbar amidst a special program on Tuesday.
The Package I of the Project comprising two roads-namely Dhangadhi-Bhajaniya-Satti road and Lamki-Tikapur-Khakraula road have already been completed with Indian grant assistance worth Rs 1.02 billion which were inaugurated on 19 January 2017.