KATHMANDU - A Chinese company on Friday signed a Memorandum of Understanding (MoU) with Nepal's Kathmandu Metropolitan City (KMC) on the feasibility study of a monorail project in the Nepali capital.

According to the MoU shared to Xinhua by the KMC, China Railway 25th Bureau Group Co., Ltd (CRCC) will conduct the feasibility study for the first monorail project in the Himalayan country, which will go along the existing Ring Road that surrounds a key city areas of Kathmandu Valley.

The Chinese company will conduct the study along the selected alignment including technical, financial, economical feasibility as well as institutional sustainability. It will also conduct social and environmental impact assessments for the feasible alignment and prepare preliminary cost estimates, according to the MoU.

The CRCC will submit a detailed plan for the study within 15 days from the singing of the MoU.