Kathmandu. KATHMANDU: The Koshi Province Investment Authority (NIA) and Kathmandu Podway Company Pvt Ltd have signed a memorandum of understanding (MoU) for the construction of the podway.

Executive Director of Nepal Electricity Authority (NEA) Saroj Koirala and Vice-President of Nepal Transport Company Nil Bhattarai signed the agreement on the occasion.

Under the project to be constructed with investment from the private sector, a model podway will be constructed on the seven kilometers stretch from Rani Customs to Biratnagar Bus Park in the first phase. In the second phase, a long-term goal has been set to connect the tourist destination Bhedetar.

The project will be built within the national transport policy and related legal framework, based on high-tech AI and cutting-edge technology. According to experts, the technology and service will be considered effective in reducing the traffic congestion and pollution on the road to zero and to make the journey safe, fast and environment-friendly.

Bhattarai said that the construction of such a big and modern public transport infrastructure with private investment in Nepal is a big possibility and a matter of happiness. With this agreement, Nepal has started a new chapter in the expansion of public transportation network by bringing world class modern transportation technology.