Govt
Govts highest level to decide on Padma bridge: QuaderStaff Correspondent, bdnews24.com
Published: 2013-03-24 09:31:04.0 Updated: 2013-03-24 17:00:49.0
Communications Minister Obaidul Quader on Sunday said a decision on the foreign proposals for the Padma bridge would be taken at the highest level of the government. We are also hearing that Korea is interested, he said speaking at his ministry.
Malaysias proposal summary has been handed over to the government, he said. It is now a matter for the highest level of the government to decide what needs to be done. Work will be carried out as per their (highest level of the government) decision, he said. My job is not with finance. Provide me with finance I will carry out the work.
Malaysia handed over a proposal in February to invest $2.3 billion for the project. They plan to accrue the amount in 26 years in the form of toll charges. Malaysia will be taking 70 percent of the profit, which is $5.2 billion. Bangladesh will get the remaining 30 percent, which is $2.19 billion.
A Chinese consortium had also proposed financing $1.95 billion of the $2.79 billion Padma bridge in what they said was a no interest term and a payback period of 20 years. Bangladesh would have to manage the rest of the money.
However, they said they would allow Bangladesh to appoint a foreign consultancy firm at its own expense to ensure quality and security matters of the project.
Obaidul Quader said it was not yet finalized who would finally be selected for financing the largest infrastructure project in the country. He, however, expressed hopes that the work would begin this year.
I am an optimistic man. It depends on the top level If funding comes, work will continue, he said. The minister also said that plans are also on to finance the bridge with own funds. Preparations are complete accordingly.
Work for a link road in Jajira Point will begin in May with own funds. After that, tenders would be floated to begin construction for the Mawa point link road, he added.
Earlier in January, Bangladesh ended a year-long run with the World Bank for financing the Padma bridge. WB held up its $1.2 billion pledged loan over alleged corruption charges.
Later on other financiers the Asian Development Bank (ADB), Japan International Corporation Agency (JICA) withdrew from the project.
Govts highest level to decide on Padma bridge: QuaderStaff Correspondent, bdnews24.com
Published: 2013-03-24 09:31:04.0 Updated: 2013-03-24 17:00:49.0
Communications Minister Obaidul Quader on Sunday said a decision on the foreign proposals for the Padma bridge would be taken at the highest level of the government. We are also hearing that Korea is interested, he said speaking at his ministry.
Malaysias proposal summary has been handed over to the government, he said. It is now a matter for the highest level of the government to decide what needs to be done. Work will be carried out as per their (highest level of the government) decision, he said. My job is not with finance. Provide me with finance I will carry out the work.
Malaysia handed over a proposal in February to invest $2.3 billion for the project. They plan to accrue the amount in 26 years in the form of toll charges. Malaysia will be taking 70 percent of the profit, which is $5.2 billion. Bangladesh will get the remaining 30 percent, which is $2.19 billion.
A Chinese consortium had also proposed financing $1.95 billion of the $2.79 billion Padma bridge in what they said was a no interest term and a payback period of 20 years. Bangladesh would have to manage the rest of the money.
However, they said they would allow Bangladesh to appoint a foreign consultancy firm at its own expense to ensure quality and security matters of the project.
Obaidul Quader said it was not yet finalized who would finally be selected for financing the largest infrastructure project in the country. He, however, expressed hopes that the work would begin this year.
I am an optimistic man. It depends on the top level If funding comes, work will continue, he said. The minister also said that plans are also on to finance the bridge with own funds. Preparations are complete accordingly.
Work for a link road in Jajira Point will begin in May with own funds. After that, tenders would be floated to begin construction for the Mawa point link road, he added.
Earlier in January, Bangladesh ended a year-long run with the World Bank for financing the Padma bridge. WB held up its $1.2 billion pledged loan over alleged corruption charges.
Later on other financiers the Asian Development Bank (ADB), Japan International Corporation Agency (JICA) withdrew from the project.
