KATHMANDU, APR 11: Nepal and China, today, signed a Letter of Exchange (LoE) for the construction of the Inland Container Depot (ICD) at Timure of Rasuwagadi.
With the signing of the LoE, the Chinese government will develop the ICD through its grant assistance.
The ICD will be spread over 6,900 square metres and will include integrated inspection building, accommodation building, cargo warehouse and parking lot, and flood protection levee.
China will bear all the cost involved in the construction of the ICD, excluding the land.
The Nepal government had provided 5.5 hectares of land for the construction of the ICD at Timure of Rasuwa district in the second week of June last year. Both the governments had agreed in principle to develop ICD in Rasuwagadi one-and-a-half years ago.
After that, the Chinese government commissioned a study group from the Architectural Reconnaissance and Design Institute of Tibet Autonomous Region for initial feasibility study of the ICD from November to December of 2013. Then after, Nepal and China inked an agreement for a detailed feasibility and technical study of ICD at Timure on October 10, 2014.
Jilong (China) to Rasuwagadi (Nepal) is known as the second largest trading route with the northern neighbour, which will be linked with China’s railway project in the future.
The Chinese government has also informed that it will soon operate well-equipped customs services, including immigration services, from Jilong border.
Nepal government has also prioritised upgrading the Syafrubesi-Trishuli road section to boost trade from this route.
Moreover, the government of China also agreed to provide technical assistance to agriculture sector in order to support Nepal’s long-term agriculture development plan.
Chinese experts will carry out hybrid rice variety experimental research and demonstrate the products suitable for Nepali land.
The LoE was signed today at the Ministry of Finance and the grant assistance fund stipulated in both agreements.
Finance Secretary Suman Prasad Sharma and Chinese Ambassador to Nepal Wu Chuntai signed the LoE on behalf of their respective governments.