A series of road projects is being awarded in Nepal. The announcements over the winning tenders for 13 projects is being made in Nepal’s capital Kathmandu. Financing worth US$300 million is being provided from Indian sources.
August 11, 2017
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A series of road projects is being awarded in Nepal. The announcements over the winning tenders for 13 projects is being made in Nepal’s capital Kathmandu. Financing worth US$300 million is being provided from Indian sources.
Funding has been found for a major highway project in India. The Asian Development Bank (ADB) is providing a substantial portion of the US$846 million of financing required for the 800km Visakhapatnam-Chennai Industrial Corridor (VCIC). In all the ADB will provide $631 million in the form of a series of grants and loans, which will be delivered in stages. Meanwhile the Indian Government will provide $215 million. The VCIC itself forms part of the 2,500km East Coast Economic Corridor (ECEC).
Financing has been secured for key road reconstruction projects in Cambodia. Work is being carried out on six road projects in the country that measure a total of 600km, as well as a bridge, with this all costing some US$490 million. A loan of $94 million will help pay for the rebuilding of Cambodia’s National Road No 11 as well as a stretch of bypass. In all 96.5km of road will be rebuilt for this project, with the work intended to improve transport connections between Thbong Khmum Province and Prey Veng P
