KATHMANDU: The Kathmandu Metropolitan City (KMC) has extended the contract for construction of the Kathmandu View Tower by a year.
The KMC extended the contract even though the construction work has not gained any substantial speed.
As per the contract, 50 per cent of the work had to be completed as of now. However, the construction work has not gained momentum.
Only 80 per cent of the underground work has been completed so far and hence the deadline has been extended by a year, said Dhruva Kafley, head of the metropolis public-private partnership unit.
The Jaleswar, Swaschanda and Bikoi joint venture had begun the construction three years ago.
According to the agreement, the company will run the building for 30 years after completing it with its own funds. The project is estimated to cost Rs. 3.5 billion.
The tower spread over an area of 23 ropanis of land, the view tower premises will have a bus park, swimming pool, film hall, bank and metropolis ward offices, among others.
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