Kathmandu, Sept. 19 -- Prime Minister KP Sharma on Wednesday laid the foundation stone for a new Parliament building, the first-ever such infrastructure being constructed with the sole purpose of housing the country's legislature.

The facility will cost an estimated Rs 5 billion and will be completed in three years.

The building to be constructed on 173 ropanis and eight annas of land on the Singha Durbar premises will be built by a joint venture of the China-based Second Harbor Engineering Company and Tundi Construction, a Nepali firm.

Oli had announced the construction of a parliament building on the first day of assuming office in his second stint as prime minister in February last year.

Though he had announced then that the buildi...