প্রকাশিত হয়েছে: 5 May, Thursday, 2016
Economics / Slider News | প্রকাশক- e news desk

ECNEC clears Padma rail link project



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Padma-EcnecFor this project, worth around Tk 350 billion, China will provide Bangladesh a loan of Tk 247.49 billion for 20 years at an interest rate of 2 percent.

Planning Minister AHM Mustafa Kamal has stated that the remaining sum of around Tk 102.4 billion will be funded by the government from its own exchequer.

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The ECNEC meeting chaired by the Prime Minister Sheikh Hasina was held at the council’s conference room at Sher-e-Bangla Nagor on Tuesday.

The meeting also approved eight other projects.

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Emerging from the meeting, the planning minister said at a press conference that, as part of the project, 172km of broad gauge tracks would be laid from Dhaka to Jessore.

“The work for the project will start in June this year and is targeted to be completed by 2022. However, the stretch from Dhaka to Faridpur via Mawa will be completed by 2018, the year the Padma Bridge will be opened to road as well as rail traffic,” the minister said.

He said Bangladesh would implement the railway project on its own.

The minister, in reply to a question, said the project cost for installing the 172-km long rail tracks was so high because the railways ministry did not have the requisite land to implement it.

“It will have to acquire land for the project. So the project cost naturally will be high,” he explained.

“When it comes to land prices, Bangladesh’s position is only behind Tokyo, New York and Mumbai,” the minister added.

He said Tuesday’s meeting cleared nine projects worth Tk 441.67 billion. Out of this, Tk 247.49 billion will be received as project aid, while the organisation concerned will provide Tk 1.52 billion and the remaining Tk 192.66 billion will be funded by the government from its own revenues.

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ECNEC clears Padma rail link project