KATHMANDU: A delegation of the Asian Development Bank (ADB) will visit Nepal on August 14 to release additional funds for the upgradation of Gautam Buddha Airport in Bhairahawa into a regional international airport, government officials said. According to the Ministry of Culture, Tourism and Civil Aviation, preparations are in final stages to invite bids for the construction of the airport. The project hit a roadblock due to lack of resources after a fresh study showed that another $53 million will be required to complete it. A survey carried out by the ADB four years ago had estimated that the upgradation would cost around $36 million. The revised project cost stands at $90.6 million. The first phase of construction at Gautam Buddha Airport was originally planned to start by the end of 2011. It is expected to be completed within three years. The project will be financed by loan and grant of $ 42.96 million and $12.75 million, respectively, from the ADB under the South Asia Tourism Infrastructure Development Project. The OPEC Fund for International Development, as a co-financing arm of the ADB, is providing $15 million loans. The Nepal government will contribute $ 29.17 million to the project.
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