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Deal inked for Fast-Track DPR

Tuesday, March 17th, 2015
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The government on Monday assigned India-based Infrastructure Leasing and Finance Services (IL and FS) to prepare the detailed project report (DPR) for Kathmandu-Tarai Fast Track.

According to the agreement, the Indian company will have to prepare the DPR within four months at its own cost. The DPR will include the tentative cost and technical details for constructing the shortest road connecting the capital to Nijgadh, Bara.

Chief of Kathmandu-Tarai Fast Track Project, Satyendra Shakya and Executive Director of IL and FS, Mukunda Sapre signed the agreement.

With the agreement for DPR in place, the much-anticipated project is finally moving forward. The project is based on Public-Private Partnership (PPP) and Build-Own-Operate-Transfer (BOOT) model.

According to the government, the agreement is limited to preparing the DPR and only if the two parties fail to come to an understanding in the future, they can choose not to work with each other. If this happens, the process will start from scratch.

The government has not ruled out the possibility of building the Fast Track on its own, if the initial plan does not work out.

The government had called a global tender for expression of interest (EOI) for the project. According to Tulsi Prasad Sitaula, Secretary Ministry of Physical Planning and Infrastructure: out of three Indian companies that submitted the EOI,  IL& FS’s proposal beat the others.

Minister of Finance Ram Sharan Mahat said, “Since the Indian company is willing to work for free, it is only natural that we select them.”

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