Korea Agrees to Provide Additional Loans for the Construction of National Road No.2

• 8 November 2018
• Local News
• 1062 Views

The Korean government has agreed to provide additional loans for the construction and rehabilitation of National Road No. 2, according to reports by local media.

On 08 November, 2018, H.E Sun Chanthol, Senior Minister, Minister of the Ministry of Public Works and Transport told FRESH NEWS that Korea has decided to provide additional loans to the US$13 million loan that was provided by Korea four years ago for the National Road No. 2 project.

The construction and rehabilitation project of the National Road No. 2 will begin in early 2019, the same source said, adding that currently, the Ministry of Public Works and Transport is now working on the bidding process, on which it has started since 03 November, 2018.

The project for the construction and rehabilitation of National Road No. 2 has been studied for many years, but was delayed because of not having enough budget while the deal for the compensation on the impact on people living along the road has yet to be reached.

However, under the loan from the Export-Import Bank of Korea, the Ministry of Public Works and Transport will transform this road to an AC-type road stretching about 57 kilometres long and 13 metres wide.

• Projects Development