KATHMANDU: The government has decided to take a concessional loan of Rs 30 billion from the Japanese government to implement the Koteshwar Intersection Improvement Project in Kathmandu.
A cabinet meeting held on Monday approved the decision to take a loan amounting to 34.49 billion Japanese yen (approximately Rs 30.08 billion) for the project.
Koteshwar, located on the Ring Road, is currently one of the most congested intersections in the Kathmandu Valley. As vehicles heading to the Araniko Highway and BP Highway also exit through this junction, traffic congestion is a regular occurrence here.
As vehicles heading to the Araniko Highway and BP Highway also exit through Koteshwar, traffic congestion is a regular occurrence here.
The government is planning to initiate a new infrastructure project aimed at easing the chronic traffic congestion in the area. Various structures, such as overpasses, underpasses and tunnels will be built, and roads will be widened under the project.
According to the Department of Roads (DoR), the project will cover the stretch from Tinkune to Jadibuti. Overpasses or tunnels will be constructed at key points such as the Koteshwar and Jadibuti intersections. However, the DoR has said that the exact nature of the structures will be determined after the detailed design is completed.
