In December 2018, the Kathmandu Metropolitan City signed an agreement with China Railway Construction Corporation (CRCC) to conduct the detail project report of the proposed Kathmandu monorail project along the 27-km ring road. The project is expected to be completed within 3 years at estimated cost of Rs116 billion. However, the implementation of monorail project faced set back due to various challenges e.g. lack of coordination among local authorities. The project has been criticized for having single track and lack of experts to address the technical issues. Also, it is opined that foreign investors are least attracted towards railway projects.

Source

https://kathmandupost.com/valley/2018/12/20/city-signs-monorail-mou-with-chinese-company

https://thehimalayantimes.com/business/kathmandu-monorail-just-a-pipe-dream-or-reality-in-the-making