Construction Companies Require Rs 65 billion to Resume Halted Projects

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Construction Companies Require Rs 65 billion to Resume Halted Projects

August 10: Construction works at most of the national projects are stagnating due to Covid-19 crisis and lockdown to stop the spread of the infection.  In addition to that, the rainy season has obstructed the work progress at various construction sites.

Construction companies say that around Rs 65 billion is required between August to November for resuming the construction work. However, they also inform that they will not be able to move ahead with the projects due to lack of capital and in absence of government support.

Federation of Contractors' Associations of Nepal (FCAN) informed that Rs 65 billion is needed within next three months to resume the construction works. So, they have demanded the government for refinancing to support their expenditure.

Ravi Singh, president of FCAN informed that contractors are ready to resume their construction works in some of the projects. “However, they need money to pay the labourers, daily wage workers and for bringing construction materials to the project sites,” he added.

 

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