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Padma Bridge: Target to generate 1,600C a year in tolls
The construction cost will be realized from tolls within 36 years
Toll plaza of Padma Multipurpose Bridge Mahmud Hossain Opu
June 26, 2022 2:31 AM
The Padma Bridge will add 1.2% to the country's gross domestic product (GDP) in a year by easing connectivity between the capital and Mongla and Payra ports.
According to Bangladesh Bureau of Statistics (BBS) the bridge will add Tk42,362.21 crore to the GDP, which is equal to 1.2% of GDP.
The bridge Division of government took loans of Tk 30193 crore from the finance division which is estimated to be paid by 36 years along with 1% interest. The money will be collected as tolls from the vehicles that travel through the Padma Bridge.
Since the inauguration of the Padma Bridge, the bridge authorities have set a target of collecting a toll of Tk133.66 crore per month. That money will be repaid in 140 installments. For this, the government wants to collect a toll of Tk1,603.97 crore annually.
The government has already fixed toll rates on vehicles. There are two types of toll collection on the largest bridge in the country. One of these is that tolls can be paid directly. Drivers will be able to pay the toll by showing the card by recharging in advance. Vehicles do not have to stop for this at the toll plaza.
The Padma Bridge Project Director Shafiqul Islam told the UNB the Padma Bridge, a biggest project ever of the country, was built with the money of the people of the country.
“After the inauguration, the toll of the bridge will be collected by Korea Express Corporation and China Major Bridge Company. The government has already appointed them,” he said.
Besides collecting tolls, the companies will also repay the loan of the bridge, and the management and maintenance works will also be done by them.
Shafiqul said the money spent to construct the bridge would come up in 30 to 35 years.
However, if the estimated toll collection target is achieved timely, it will be possible to collect the full cost of the bridge by 20 to 25 years