Though the election code of conduct forced to postpone the formal inauguration of Kathmandu-Kulekhani-Hetauda tunnel road, Nepal Purwardhar Bikash Company Ltd – Nepal Infrastructure Development Company – today informally started the construction work of the four lane tunnel highway.
The first public company that is constructing the four-lane 58-km national toll highway has been initiated by private sector under public, private, people partnership (4P) model.
The largest infrastructure project envisioned by the private sector using its own resources and expertise will however be officially inaugurated after the Constituent Assembly (CA) election.
“Currently the company is planning to construct access road, site office and staff quarter,” said the chairman of the company Kush Kumar Joshi, who is also the past president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
The four-lane highway that starts from Balkhu in Kathmandu will have three tunnels of a total length of 4.5 km apart from bridges and ends at Hetauda connecting the entire western southern and eastern plains through Hetauda.
However, the company is planning to submit its performance security of around Rs 180 million to the government in a week.
The company and Ministry of Physical Infrastructure and Transport had signed agreement on May 14. According to which the company requires to submit 0.5 per cent of the project cost as performance security to the government within six months after the agreement.
Estimated to cost Rs 34.5 billion, the tunnel highway will be completed by May 2014 But the company will have to deposit a one-year performance security of Rs 172.5 million.