By A Staff Reporter
Kathmandu, Feb. 17: Nepal Infrastructure Bank Limited (NIFRA) and SMEC International Private Limited – a member of Singapore-based global urban infrastructure consulting firm Surbana Jurong (SJ) Group – signed a Memorandum of Understanding (MoU) for the development of a smart city in Panchkhal Municipality.

The MoU was signed by Chief Executive Officer of NIFRA, Ram Krishna Khatiwada and Country Head of SMEC in Nepal, Salim Jahan Fahim on behalf of their respective organisations at a programme organised here on Tuesday. Spokesperson of Panchkhal Municipality, Sanjay Lama was also present on the occasion.
The SMEC and NIFRA will support to conduct the preliminary studies, initial structuring of the project and to exchange best practices on the development of smart cities.

“NIFRA will provide necessary facilitation and other services to SMEC during the engagement period. It will arrange necessary financing in coordination with other stakeholders as a lead financer for the development of the smart city after completion of required studies, designs and legal structuring of the project,” it said in a statement.

Panchkhal Municipality has taken the lead in securing the required land in coordination with landowners in the municipality. Panchkhal Smart City, the first of its kind in Nepal, covers an area of around 5,500 ropanis of land.
NIFRA has signed a separate MoU with Panchkhal Muncipality for the development of the smart city.

Meanwhile, NIFRA has also signed a contract with a US-based consulting firm Jones Lang LaSalle Property Consultants Private Limited for market study of the proposed Smart City. The company is scheduled to submit its report within eight weeks, outlining viability and broader opportunities of the project.

Khatiwada reiterated NIFRA’s commitment on developing the next generation smart city in Nepal. He added that the collaboration with the globally renowned infrastructure development consultant will certainly help to materialize this vision to develop the first smart city in Nepal which will be a model for replicating in other parts of the country.

Likewise, Lama said that the municipality is committed to providing all support that is required for the development of a smart city in Panchkhal.
Mohiuddin Mahmud, Deputy Chief Operating Officer-South and Central Asia, from SMEC said the professional experience of SMEC and SJ in developing smart cities will be instrumental for development of the Panchkhal Smart city soon.