A total of 12 foreign companies have applied at the Investment Board Nepal (IBN) to conduct a feasibility study to operate electric buses on the ring road of the Kathmandu Valley.

The IBN called on the interested firms to submit proposals for the prequalification test on February 5, while the deadline was set for March 23. The applicant companies are from countries including China, India, Bangladesh and Pakistan and from the European Union.

According to the IBN, it has started technical assessment of the applicant firms. Earlier, the board had received applications from 13 firms when it called for the proposal on November 6. However, the board had canceled the applications citing the process of tender calls illegitimate.

The IBN has estimated Rs 20.19 billion to operate the electric bus services on the ring road. According to the IBN officials, the actual cost can be found out only after finalizing the detailed project report.

The IBN under its project ‘Electric Bus Rapid Transit in Ring Road of Kathmandu Valley’ has planned to operate electric vehicles on the 27.30 km long ring road. The project to be constructed under the public-private-partnership model will build 27 bus stations.

Under the plan, an average of 75 electric buses will be operated on the ring road. Likewise, fare collection based on smart card and coin insertion system, lighting, signal, GPS system and construction of terminal and charging station, flyover and bridges are the planned infrastructures to be constructed to run the public vehicles.