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Tk 32bln Elevated Expressway cleared
Tk 32bln Elevated Expressway cleared | Business | biz.bdnews24.com
Tue, Oct 18th, 2011 7:25 pm BdST
Dhaka, Oct 18 (bdnews24.com)The ECNEC has cleared a Tk 32.17 billion project for 26-kilometre long Dhaka Elevated Expressway linking Airport Road to Dhaka-Chittagong highway to ease the capital's nagging traffic gridlock.
The top economic policy forum approved the ambitious project under the government's Public Private Partnership on Tuesday, planning minister A K Khandker told reporters.
"The project is expected to be implemented by the end of 2014. The traffic gridlock of the city will mostly be reduced when the elevated expressway is up and running."
The planning minister also said it was not possible for the government alone to implement such a big project. "That's why it has been undertaken under PPP. A fixed amount of toll will be collected from vehicles using the expressway."
The Executive Committee of the National Economic Council at its regular meeting with prime minister Sheikh Hasina in the chair approved a total of 10 projects involving Tk 44.58 billion, including the expressway project.
Hasina had inaugurated construction work of the Expressway at the Banani Army Stadium on Apr 30 city.
The four-lane expressway will be built from Shahjalal International Airport to Kutubkhali on the Dhaka-Chittagong highway via Kuril, Banani, Mohakhali, Tejgaon, Satrasta, Moghbazar, Kamlapur, Khilgaon and Golapbagh.
The estimated cost of the public-private project (PPP) is about Tk 87 billion, of which the government will contribute Tk 27 percent (Tk 23.49 billion).
The construction is due to be completed in three and a half years.
The government signed an agreement with Italian-Thai Development Public Company Ltd (Ital-Thai Company) on Jan 19 for the construction of the expressway.
The main expressway will stretch over 21 kilometres with two links stretching five kilometres. One will be from Manik Mia Avenue to Satrasta intersection and the other stretching from Plassey intersection to Moghbazar.
As the contractor, as per the agreement, will invest 77 percent of the total costs, it will collect toll for 25 years to get back its investment plus profit.
About 20 percent of the land needs to be acquired for the construction of the expressway as the remaining land belongs to the government.
The affected land owners will be given plots and flats alongside cash as compensation.
Most of the privately-owned lands are in Kuril, Golapbagh and Kutubkhali areas.
The nine other projects approved at the ECNEC meeting are modernisation and extension project of Bangladesh Film Development Corporation (BFDC, involving Tk 590 million), Satkhira Medical College and Hospital construction project (2.68 billion), International Mother Language Institute construction project (second phase, Tk 550 million), a dredging project of pilot channel in the downstream of Feni regulator at Sonagazi Upazila in Feni district (Tk 640 million), Bangladesh Biodiversity Preservation and Ecotourism Development Project (Tk 480 million), Construction of ICT-based Rural Post Office project (Tk 1.12 billion), eastward extension of Madani Avenue (Pragati Sarani intersection to Balu River) project (Tk 4.22 billion), rehabilitation work of Narasunda river and development project of Kishoreganj municipality area (Tk 630 million) and Rehabilitation work of the Meghna Bridge on the Dhaka-Chittagong Highway (Tk 1.5 billion).
bdnews24.com/arh/ost/skb/bd/1818h
Tk 32bln Elevated Expressway cleared | Business | biz.bdnews24.com
Tue, Oct 18th, 2011 7:25 pm BdST
Dhaka, Oct 18 (bdnews24.com)The ECNEC has cleared a Tk 32.17 billion project for 26-kilometre long Dhaka Elevated Expressway linking Airport Road to Dhaka-Chittagong highway to ease the capital's nagging traffic gridlock.
The top economic policy forum approved the ambitious project under the government's Public Private Partnership on Tuesday, planning minister A K Khandker told reporters.
"The project is expected to be implemented by the end of 2014. The traffic gridlock of the city will mostly be reduced when the elevated expressway is up and running."
The planning minister also said it was not possible for the government alone to implement such a big project. "That's why it has been undertaken under PPP. A fixed amount of toll will be collected from vehicles using the expressway."
The Executive Committee of the National Economic Council at its regular meeting with prime minister Sheikh Hasina in the chair approved a total of 10 projects involving Tk 44.58 billion, including the expressway project.
Hasina had inaugurated construction work of the Expressway at the Banani Army Stadium on Apr 30 city.
The four-lane expressway will be built from Shahjalal International Airport to Kutubkhali on the Dhaka-Chittagong highway via Kuril, Banani, Mohakhali, Tejgaon, Satrasta, Moghbazar, Kamlapur, Khilgaon and Golapbagh.
The estimated cost of the public-private project (PPP) is about Tk 87 billion, of which the government will contribute Tk 27 percent (Tk 23.49 billion).
The construction is due to be completed in three and a half years.
The government signed an agreement with Italian-Thai Development Public Company Ltd (Ital-Thai Company) on Jan 19 for the construction of the expressway.
The main expressway will stretch over 21 kilometres with two links stretching five kilometres. One will be from Manik Mia Avenue to Satrasta intersection and the other stretching from Plassey intersection to Moghbazar.
As the contractor, as per the agreement, will invest 77 percent of the total costs, it will collect toll for 25 years to get back its investment plus profit.
About 20 percent of the land needs to be acquired for the construction of the expressway as the remaining land belongs to the government.
The affected land owners will be given plots and flats alongside cash as compensation.
Most of the privately-owned lands are in Kuril, Golapbagh and Kutubkhali areas.
The nine other projects approved at the ECNEC meeting are modernisation and extension project of Bangladesh Film Development Corporation (BFDC, involving Tk 590 million), Satkhira Medical College and Hospital construction project (2.68 billion), International Mother Language Institute construction project (second phase, Tk 550 million), a dredging project of pilot channel in the downstream of Feni regulator at Sonagazi Upazila in Feni district (Tk 640 million), Bangladesh Biodiversity Preservation and Ecotourism Development Project (Tk 480 million), Construction of ICT-based Rural Post Office project (Tk 1.12 billion), eastward extension of Madani Avenue (Pragati Sarani intersection to Balu River) project (Tk 4.22 billion), rehabilitation work of Narasunda river and development project of Kishoreganj municipality area (Tk 630 million) and Rehabilitation work of the Meghna Bridge on the Dhaka-Chittagong Highway (Tk 1.5 billion).
bdnews24.com/arh/ost/skb/bd/1818h
