KATHMANDU, Feb 15: The Government of Japan has agreed to provide a grant assistance of Japanese Yen 577 million which is equivalent to Rs. 580 million to the Nepal Government for the construction of the Sindhuli Road Project (Section III).
A memorandum of understanding to this effect was signed here today, according to a press release issued by the Ministry of Finance on Wednesday.
Kunio Takahasi, the Japanese Ambassador to Nepal and Krishnahari Banskota, Secretary at the Ministry of Finance signed the agreement on behalf of their respective governments.
The Sindhuli Road Section-III under the BP Highway stretches from Khurkot to Nepalthak ( Sindhuli) for about 37 kilometers.
As per the request of the Nepal Government, the Government of Japan completed feasibility study on the projects that was conceived as early as 1960 AD in the year 1988 and the construction of the road is taking place since the month of November of 1996 with the financial support from the Japan Government.
The Project (section III) is expected to be completed by March, 2015 under the two phases, said the Embassy of Japan in its press release today.