KATHMANDU: The 40th Investment Board held here on Monday has decided to entrust a Chinese company with the responsibility of constructing the over 70-kilometer Outer Ring Road in the Kathmandu Valley.

The meeting of the Board convened at Singha Durbar in the chairmanship of Prime Minister KP Sharma Oli selected the Chinese Communications Construction Company among the short-listed companies for the same on the basis of criteria and evaluation.

Similarly, the meeting decided to assign the Zurich Airport International AG to develop a project plan relating to the Nijgadh International Airport under the Public-Private Partnership concept.

Both the selected companies should submit the Detail Project Report for their respective projects within 45 days.

Separate committees have been formed in the coordination of Minister for Energy, Water Resources and Irrigation Barsha Man Pun for shortlisting the companies who would present their proposal for constructing West Seti and SR VI Joint Hydro Power Project and Lower Arun Hydro Power Project.

Instruction to furnishing integrated recommendation on the transportation system in Kathmandu Valley

Likewise, PM Oli in the meeting instructed the concerned Ministries and their line agencies to furnish their recommendations in an integrated way for the management and reform of the transportation system in the Kathmandu Valley.

Furthermore, the PM also directed the concerned agencies and Ministries to present the list of those willing to invest to streamline the transportation system in the Valley.

The PM pressed for close coordination between the Ministries and agencies for accomplishing all the projects on the stipulated time.

Board’s Chief Executive Director Maha Prasad Adhikari had presented the progress reports on various projects.