KATHMANDU, NOV 08 -Nepal Purbadhar Bikas Company Limited ( NPBCL ) has said that it would submit performance security of around Rs 180 million to the government within a week to build the Kathmandu-Hetau-da Tunnel Highway. The company has planned to start preliminary construction work on the project on Monday.
An agreement between the company and the Ministry of Physical Infrastructure and Transport signed on May 14, 2013, requires the former to submit 0.5 percent of the project cost as performance security to the government within six months after the agreement. “We are starting preparatory and preliminary construction work from Monday and performance security too will be submitted as per the agreement,” said NPBCL Vice-president Lal Krishna KC, who is also the project manager. He said they would first work on the access road and logistics required.
The planned access road will lead to the tunnel portal area for the construction of the tunnel, according to the company. The four-lane 58-km highway will have three tunnels with an approximate length of 4.55 km.
The project is estimated to cost Rs 34.5 billion, based on which the company will have to deposit a one-year performance security of Rs 172.5 million. The contract also holds the company responsible to get the government’s approval for the design of the road before starting the work on permanent infrastructure.
KC said they were also working on the design of the main infrastructure and would seek the government’s approval before starting the work. Main infrastructure of the highway include alignment, tunnel, toll plaza and major bridges, flyovers and grade separators.
Going by the agreement, the final design and drawings of infrastructure such as roads, bridges and tunnel will have to be completed by May 2014. Also by May next year, the company will have to submit the financial closure to the government for the development of the road project under the build-own-operate and transfer (BOOT) modality. Financial closure is mandatory to make sure that resources are available, according to the Physical Infrastructure Ministry.
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