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The authorities plan to open the "Single-point mooring with double pipeline" project – undertaken to increase efficiency in handling imported crude and refined oil – on a trial basis by mid-January, with over 94% of project work having been done already.
Preparatory work for the trial run is now going on, Project Director Engineer Sharif Hasnat told The Business Standard. "If the trial run is successful, the project will go into full-fledged operation in March 2023," he added.
The sub-sea pipeline will enable the Bangladesh Petroleum Corporation (BPC) to unload one lakh tonnes of imported oil within 48 hours, a job that currently takes 11 days, said project officials, adding that no lighterage would be required to transfer fuel from the mother vessel once the project is implemented, which now moors at the outer anchorage.
Besides, it will help save Tk800 crore annually in tanker handling costs, and raise the country's capacity to reserve fuel oil for an additional 15 days, they maintained.
Work on the construction of the pumping station, tank firm, and six storage tanks on a 90-acre area of land has been completed.
Of the six tanks, three tanks will be able to store crude oil with 35,000 cubic-metre capacity each and the rest have the capacity to store 60,000 cubic metres of refined oil each.
Project officials said that all the tanks can store about 1.5 lakh tonnes of refined and crude oil.
Project Director Sharif Hasnat said, "Under the project, a 146km offshore pipeline is being installed. Out of this, work on 110km has been completed. This pipeline connects Maheshkhali with Patenga depot via Banshkhali and Anwara in Chattogram. Besides, work on a 74km onshore pipeline is also in the final stage."
"The project goal is ensuring energy security of the country by bolstering refined oil storage capacity as a backup for any emergency shutdown of Eastern Refinery," said Sharif Hasnat.
According to the Energy Division, generally crude oil and finished products from vessels will go directly to the mooring point. From there, the oil will be pumped through the pipeline to the Maheshkhali storage tank. From there, it will be sent by pipeline to Eastern Refinery in Patenga, Chattogram.
Meanwhile, businesspeople have said that if oil reserves are created in this project during global crises, there will be huge savings in terms of prices.
Speaking on this point, Abu Morshed Chowdhury Khoka, chairman of Cox's Bazar Chamber of Commerce Industry, said, "The oil storage capacity in our storage was insufficient. Moreover, oil used to be imported from abroad in mother vessels, and it took a long time to unload them properly at the Patenga depot.
"Now that the single-point mooring project is being implemented near the deep sea port, it will be of great importance. At the same time, if we can boost our oil reserves capacity, we will be able to deal with supply shortages and price hikes caused by various global crises in the future."
According to official sources, state-owned BPC is implementing the project at a cost of over Tk7,124 crore. The lion's share of the finance is coming from the Exim Bank of China (Tk4,688 crore) in project aid. Besides, the government is providing Tk601 crore and the BPC Tk1,835 crore for the project.
The Chinese state-owned company China Petroleum Pipeline Engineering Company Limited is working as Engineering, Procurement, and Construction (EPC) contractor, while Germany-based ILF Consulting Engineers has been providing technical support.
During a recent visit to the project site, The Business Standard found workers and engineers busy painting the buildings, developing the internal roads of the project, connecting various optical fibre cables to the storage tanks, and connecting the pipelines.
People concerned have said 70 engineers from Germany and China along with over 200 local workers are currently busy with last-minute work on the project, although 500-600 foreign nationals were employed following the beginning of the project.
According to the Energy Division, the single-point mooring project was initiated in 2015 and was initially scheduled for completion in three years. After three revisions, the deadline has been extended to June 2023.
Bangladesh annually imports around six million tonnes of crude and refined oil, of which some 1.4 million tonnes are crude oil.
www.tbsnews.net
After a delay of more than two years, finally the Aminbazar-Gopalganj 400KV power transmission line came into operation crossing the Padma River.
"The line was commissioned successfully at 1:40pm on Thursday (15 December) from Gopalganj grid substation with 400KV voltage", the Power Grid Company of Bangladesh (PGCB) said in a Facebook post.
However, PGCB managing director Golam Kibria said that although the line was commissioned, electricity flow will not be given through this line.
"We've planned to flow electricity from next Saturday on test basis and then step by step it will be fully commissioned by gradually synchronising with all the systems", he told UNB.
PGCB officials said that the full commissioning of the newly constructed line will facilitate electricity transmission from the two large power plants – 1.320 MW Payra and 1,320 MW Rampal power plants – in the country's southern region to Dhaka city.
Of these, the Payra power plant having two units, each 620 MW capacity, set up in joint venture with Chinese company, have already been commissioned. The first unit (620 MW capacity) of Rampal power plant is also being built in joint venture with an Indian company and it is expected to be commercially commissioned in March next year.
"If the electricity from these two plants can come to the capital city, it will play an important role to improve the power supply situation", said a top official of the Power Division.
The government had undertaken the implementation of the Aminbazar-Gopalganj transmission line in 2016.
But due to construction of the Padma Bridge, works of tower installation in Padma River remained suspended until completion of the bridge construction. As a result, the project experienced a huge delay to complete.
The PGCB in the Facebook post mentioned that the newly constructed Aminbazar-Gopalganj 400KV power transmission line has been successfully commissioned with charging power by the PGCB.
The length of the line from Gopalganj to Aminbazar grid substation is 82.5km. Of which there is a 7.5km river crossing on Padma River.
The Gopalganj to Aminbazar line has a total of 226 towers. A total of 11 tall towers have been constructed in the Padma River and also on both sides for facilitating the river crossing.
As the line has been successfully charged at 400KV voltage, soon after all technical preparations and evaluations, power transmission (load flow) will be started on this line.
With the commissioning of the newly constructed line, the previously constructed Payra-Gopalganj 400KV line and Gopalganj-Mongla 400KV line have been connected to the Aminbazar grid substation on the outskirts of Dhaka.
This has made the connection to the national grid stronger and more reliable with the greater Khulna and Barishal regions, the PGCB mentioned.
www.tbsnews.net
The Payra 1,320MW Thermal Power Plant, the largest coal-powered plant in the country, is all set to begin the trial run to transmit electricity to Dhaka as both sides of the Padma River have been connected with power transmission lines.
Around half the capacity of the Payra power plant remained unused until now due to no transmission line on either side of the Padma.
The river-crossing work was finally finished last month with the construction of 11 towers after missing several deadlines.
Besides, the commercial operation of the Maitree Super Thermal Power Project, better known as the Rampal coal power plant, has also been waiting for the same transmission line to connect with the national grid.
The Power Grid Company of Bangladesh, the agency that implemented the transmission line, is now going to begin a trial run of the transmission line on Thursday, said its Executive Director (P&D) Md Yeakub Elahi Chowdhury.
"There are several technical tests before the final power connectivity through any transmission line. We will begin some of these tests on 15 December," said Md Yeakub Elahi Chowdhury on Tuesday.
"Payra to Gopalganj power transmission line was completed and is in operation. But due to the delay in the construction of the power lines, we could not transmit the power to the other side of the Padma," he added.
For transmitting electricity from the Payra power plant, the Power Division took up a project of 400kV Double circuit transmission lines from Patuakhali (Payra) to Gopalganj and Aminbazar (Dhaka) with a deadline of December 2020.
But the Power Grid Company could not complete the line within the time limit due to difficulties in building the line over the Padma. As a result, power transmission from Payra to Dhaka stayed halted.
The tower construction work in the Padma was given to the Padma Bridge authorities, but due to priority on the Padma Multipurpose Bridge Project, establishing the transmission line was delayed.
Meanwhile, the first unit of the plant started commercial operation on 15 May 2020 while the second unit came into commercial production on 8 December of the same year.
Commercial run of Rampal plant waits for transmission line
After it was deferred several times, the commercial operation of the Rampal 1,320MW coal plant is now waiting for the full-fledged operation of the Aminbazar-Maowa-Mongla 400KV Double Circuit line, said source at the Bangladesh-India Friendship Power Company Limited, the implementing agency of the project.
After several technical tests including grid synchronisation and trial run, the plant is now conducting the stabilisation test which is due to be completed on 18 December.
Engineer Sayeed Akram Ullah, managing director of Bangladesh-India Friendship Power Company, told The Business Standard that they are planning to commence the first unit of the plant once the stabilisation test is completed and it gets green signals from the Power Grid Company after the testing of the transmission line over the Padma.
www.tbsnews.net
Preparatory work for the trial run is now going on, Project Director Engineer Sharif Hasnat told The Business Standard. "If the trial run is successful, the project will go into full-fledged operation in March 2023," he added.
The sub-sea pipeline will enable the Bangladesh Petroleum Corporation (BPC) to unload one lakh tonnes of imported oil within 48 hours, a job that currently takes 11 days, said project officials, adding that no lighterage would be required to transfer fuel from the mother vessel once the project is implemented, which now moors at the outer anchorage.
Besides, it will help save Tk800 crore annually in tanker handling costs, and raise the country's capacity to reserve fuel oil for an additional 15 days, they maintained.
Work on the construction of the pumping station, tank firm, and six storage tanks on a 90-acre area of land has been completed.
Of the six tanks, three tanks will be able to store crude oil with 35,000 cubic-metre capacity each and the rest have the capacity to store 60,000 cubic metres of refined oil each.
Project officials said that all the tanks can store about 1.5 lakh tonnes of refined and crude oil.
Project Director Sharif Hasnat said, "Under the project, a 146km offshore pipeline is being installed. Out of this, work on 110km has been completed. This pipeline connects Maheshkhali with Patenga depot via Banshkhali and Anwara in Chattogram. Besides, work on a 74km onshore pipeline is also in the final stage."
"The project goal is ensuring energy security of the country by bolstering refined oil storage capacity as a backup for any emergency shutdown of Eastern Refinery," said Sharif Hasnat.
According to the Energy Division, generally crude oil and finished products from vessels will go directly to the mooring point. From there, the oil will be pumped through the pipeline to the Maheshkhali storage tank. From there, it will be sent by pipeline to Eastern Refinery in Patenga, Chattogram.
Meanwhile, businesspeople have said that if oil reserves are created in this project during global crises, there will be huge savings in terms of prices.
Speaking on this point, Abu Morshed Chowdhury Khoka, chairman of Cox's Bazar Chamber of Commerce Industry, said, "The oil storage capacity in our storage was insufficient. Moreover, oil used to be imported from abroad in mother vessels, and it took a long time to unload them properly at the Patenga depot.
"Now that the single-point mooring project is being implemented near the deep sea port, it will be of great importance. At the same time, if we can boost our oil reserves capacity, we will be able to deal with supply shortages and price hikes caused by various global crises in the future."
According to official sources, state-owned BPC is implementing the project at a cost of over Tk7,124 crore. The lion's share of the finance is coming from the Exim Bank of China (Tk4,688 crore) in project aid. Besides, the government is providing Tk601 crore and the BPC Tk1,835 crore for the project.
The Chinese state-owned company China Petroleum Pipeline Engineering Company Limited is working as Engineering, Procurement, and Construction (EPC) contractor, while Germany-based ILF Consulting Engineers has been providing technical support.
During a recent visit to the project site, The Business Standard found workers and engineers busy painting the buildings, developing the internal roads of the project, connecting various optical fibre cables to the storage tanks, and connecting the pipelines.
People concerned have said 70 engineers from Germany and China along with over 200 local workers are currently busy with last-minute work on the project, although 500-600 foreign nationals were employed following the beginning of the project.
According to the Energy Division, the single-point mooring project was initiated in 2015 and was initially scheduled for completion in three years. After three revisions, the deadline has been extended to June 2023.
Bangladesh annually imports around six million tonnes of crude and refined oil, of which some 1.4 million tonnes are crude oil.
Deep-sea mooring trial begins mid-Jan, to cut fuel unloading time
The single-point mooring with double pipeline in Cox’s Bazar will also increase country’s reserve storage by another 15 days and help save Tk800cr annually
After a delay of more than two years, finally the Aminbazar-Gopalganj 400KV power transmission line came into operation crossing the Padma River.
"The line was commissioned successfully at 1:40pm on Thursday (15 December) from Gopalganj grid substation with 400KV voltage", the Power Grid Company of Bangladesh (PGCB) said in a Facebook post.
However, PGCB managing director Golam Kibria said that although the line was commissioned, electricity flow will not be given through this line.
"We've planned to flow electricity from next Saturday on test basis and then step by step it will be fully commissioned by gradually synchronising with all the systems", he told UNB.
PGCB officials said that the full commissioning of the newly constructed line will facilitate electricity transmission from the two large power plants – 1.320 MW Payra and 1,320 MW Rampal power plants – in the country's southern region to Dhaka city.
Of these, the Payra power plant having two units, each 620 MW capacity, set up in joint venture with Chinese company, have already been commissioned. The first unit (620 MW capacity) of Rampal power plant is also being built in joint venture with an Indian company and it is expected to be commercially commissioned in March next year.
"If the electricity from these two plants can come to the capital city, it will play an important role to improve the power supply situation", said a top official of the Power Division.
The government had undertaken the implementation of the Aminbazar-Gopalganj transmission line in 2016.
But due to construction of the Padma Bridge, works of tower installation in Padma River remained suspended until completion of the bridge construction. As a result, the project experienced a huge delay to complete.
The PGCB in the Facebook post mentioned that the newly constructed Aminbazar-Gopalganj 400KV power transmission line has been successfully commissioned with charging power by the PGCB.
The length of the line from Gopalganj to Aminbazar grid substation is 82.5km. Of which there is a 7.5km river crossing on Padma River.
The Gopalganj to Aminbazar line has a total of 226 towers. A total of 11 tall towers have been constructed in the Padma River and also on both sides for facilitating the river crossing.
As the line has been successfully charged at 400KV voltage, soon after all technical preparations and evaluations, power transmission (load flow) will be started on this line.
With the commissioning of the newly constructed line, the previously constructed Payra-Gopalganj 400KV line and Gopalganj-Mongla 400KV line have been connected to the Aminbazar grid substation on the outskirts of Dhaka.
This has made the connection to the national grid stronger and more reliable with the greater Khulna and Barishal regions, the PGCB mentioned.
Aminbazar-Gopalganj 400KV power transmission line comes into operation crossing Padma River
After a delay of more than two years, finally the Aminbazar-Gopalganj 400KV power transmission line came into operation crossing the Padma River. "The line was commissioned successfully at 1:40pm on Thursday (15 December) from Gopalganj grid substation with 400KV voltage", the Power Grid Company...
The Payra 1,320MW Thermal Power Plant, the largest coal-powered plant in the country, is all set to begin the trial run to transmit electricity to Dhaka as both sides of the Padma River have been connected with power transmission lines.
Around half the capacity of the Payra power plant remained unused until now due to no transmission line on either side of the Padma.
The river-crossing work was finally finished last month with the construction of 11 towers after missing several deadlines.
Besides, the commercial operation of the Maitree Super Thermal Power Project, better known as the Rampal coal power plant, has also been waiting for the same transmission line to connect with the national grid.
The Power Grid Company of Bangladesh, the agency that implemented the transmission line, is now going to begin a trial run of the transmission line on Thursday, said its Executive Director (P&D) Md Yeakub Elahi Chowdhury.
"There are several technical tests before the final power connectivity through any transmission line. We will begin some of these tests on 15 December," said Md Yeakub Elahi Chowdhury on Tuesday.
"Payra to Gopalganj power transmission line was completed and is in operation. But due to the delay in the construction of the power lines, we could not transmit the power to the other side of the Padma," he added.
For transmitting electricity from the Payra power plant, the Power Division took up a project of 400kV Double circuit transmission lines from Patuakhali (Payra) to Gopalganj and Aminbazar (Dhaka) with a deadline of December 2020.
But the Power Grid Company could not complete the line within the time limit due to difficulties in building the line over the Padma. As a result, power transmission from Payra to Dhaka stayed halted.
The tower construction work in the Padma was given to the Padma Bridge authorities, but due to priority on the Padma Multipurpose Bridge Project, establishing the transmission line was delayed.
Meanwhile, the first unit of the plant started commercial operation on 15 May 2020 while the second unit came into commercial production on 8 December of the same year.
Commercial run of Rampal plant waits for transmission line
After it was deferred several times, the commercial operation of the Rampal 1,320MW coal plant is now waiting for the full-fledged operation of the Aminbazar-Maowa-Mongla 400KV Double Circuit line, said source at the Bangladesh-India Friendship Power Company Limited, the implementing agency of the project.
After several technical tests including grid synchronisation and trial run, the plant is now conducting the stabilisation test which is due to be completed on 18 December.
Engineer Sayeed Akram Ullah, managing director of Bangladesh-India Friendship Power Company, told The Business Standard that they are planning to commence the first unit of the plant once the stabilisation test is completed and it gets green signals from the Power Grid Company after the testing of the transmission line over the Padma.
Payra-Dhaka power connectivity trial run begins Thursday
The same transmission line will be used to add electricity from Rampal to the national grid
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The Bangladesh Data Center Company of the ICT Division and Gennext Technology Thursday (December 29, 2022) signed an agreement to set up a "Made in Bangladesh Cloud" data centre.
Bangladesh Data Center Company Managing Director Abu Sayeed Chowdhury and Gennext Technology Chairman Touhidul Islam inked the deal.
The "Meghna Cloud" data centre will be built using the technology and human resources of Bangladesh.
The centre will help Bangladesh save foreign currency for the use and purchase of cloud technology. It will also be able to serve private and public organisations while keeping data within the country.
Deal signed to set up 'Made in Bangladesh Cloud' data centre
The Bangladesh Data Center Company of the ICT Division and Gennext Technology Thursday (December 29, 2022) signed an agreement to set up a
unb.com.bd
Local players eye bigger slice as cloud computing gains foothold
Cloud computing is a model of delivering computing services such as data storage, processing and networking over the internet on a pay-per-use basis
- Fervent will produce wood and jutex particle boards, melamine-faced chipboard, and veneered boards
- Its factory complex is on 60 acres of land
- some 1,000 workers are expected to be employed
- Nine companies got land allocation in the economic zone earlier
Fervent Multiboard Industries Limited is going to set up a wood and other boards manufacturing industry in the Jamalpur Economic Zone in Jamalpur with an investment of $93 million.
To make this happen, the company signed a land-lease agreement with the Bangladesh Economic Zones Authority, also known as Beza, at the latter's office in the capital Sunday (1 January), said a press release.
Beza Executive Member Md Ali Ahsan and Fervent Multiboard Industries Chairman S M Mahabubul Alam, also a founding director of Walton Hi-Tech Industries, inked the deal on behalf of their respective organisations.
Nine companies got land allocation in the economic zone earlier.
Fervent will produce wood and jutex particle boards, melamine-faced chipboard, and veneered boards in the factory complex on 60 acres of land, where some 1,000 workers are expected to be employed, according to the release.
It will also set up an administrative building, warehouses, logistics sheds, treatment plants, and dormitories there. Besides, the company will adopt the latest environment-friendly technologies and an environment management plan to make the industry green.
"Beza has been able to create an investment-friendly environment. As a result, the demand for land in economic zones has been on the rise. The Jamalpur Economic Zone is a case in point," Beza Executive Chairman Shaikh Yusuf Harun said.
"We are working to ensure all utility facilities to the investors in the zone, from which people of the region will also benefit."
The under-construction 436-acre economic zone is the first of its kind in the Mymensingh division. It is meant especially for agriculture-based factories, light engineering and RMG industries.
At least 32,000 jobs are expected to be created there once the economic zone goes into operation.
Fervent Multiboard Industries to invest $93m in Jamalpur Economic Zone
To make this happen, the company signed a land-lease agreement with the Bangladesh Economic Zones Authority Sunday
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The government is mulling to establish another on-grid solar power plant in Rangamati's Kaptai upazila, as part of its efforts to generate 10% of electricity from renewable energies by 2025.
The Bangladesh Power Development Board approved the 7.6-megawatt solar power plant proposal in principle at its board meeting on 28 November last year, according to ATM Abduzzaher, manager of Karnaphuli Hydropower Station that helps the PDB in the preliminary works for the new project.
Later on 28-30 December, a team from the Planning Commission visited the 23.06-acre land proposed for the solar plant in the Brickfield area of Kaptai, he noted and added that the detailed plan including the project cost is yet to be prepared.
"Currently, the proposed area is being cleaned up," he told The Business Standard.
"The government has a plan to establish a solar power plant there. As we have been asked to give our opinions in this regard, we have made a visit to Kaptai," Mohammad Emdad Ullah Mian, member of Planning Commission, told The Business Standard.
"We visited the existing 7.4MW solar plant there and looked for space for the proposed plant," he added.
Earlier in 2019, the government set up a 7.4MW solar power plant near the Karnaphuli Hydropower Station at Kaptai of Rangamati. It was the country's first solar power plant connected to the national grid directly.
The government is moving for the new plant as it is determined to achieve its target of generating 10% of electricity from renewables, including solar, hydropower and wind, by 2025.
Currently, the country has a capacity of generating 2% of electricity from renewables, according to the PDB. At least 12% of electricity is needed from renewable sources to attain Sustainable Development Goals or SDGs.
Earlier, the government had targets of producing at least 5% of total electricity from renewable sources by 2015 and 10% by 2020 but none of them could be achieved, according to the Ministry of Power, Energy and Mineral Resources.
PDB data says the country's current power generation capacity is 22,608MW with 1.5% or 359MW (on-grid) from solar.
Bangladesh can generate 20,000MW of green electricity within 2041 by expanding solar power generation facilities, says to the "National Solar Energy Roadmap 2021-41" prepared by the Sustainable and Renewable Energy Development Authority.
Even the solar power capacity can be taken to 30,000MW with proper utilisation of riverside and abandoned lands, it estimated.
Prime minister Sheikh Haisina has been repeatedly instructing authorities concerned to utilise the unused land of the country's existing power plants and the PDB for the development of renewable energy amid a scarcity of land.
Following the directive, the Kaptai 7.4MW solar plant has been set up on 19.5 acres of land at Tk111 crore.
"The currently operational solar power plant generates an average of 26,000 units of electricity per day while the production cost per unit of electricity is Tk14," an engineer at the Karnaphuli Hydroelectric Power Station, wishing to remain unnamed, told TBS.
"The new solar plant would be more advanced in technology and would generate 28,000-30,000 units per day. As a result, the production cost will drop to Tk8 per unit," he added.
Yet another solar power plant at Kaptai on cards
Earlier in 2019, the government set up a 7.4MW solar power plant near the Karnaphuli Hydropower Station
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Taiwanese apparel manufacturer Makalot Industrial Co Ltd is going to invest $17 million in Bangladesh to set up a factory in the Bay Economic Zone in Gazipur.
According to Bangladesh Economic Zones Authority (Beza) sources, the Bay Economic Zone today will sign an agreement with Makalot (BD) Ltd for allotting over 10,000 square metres of space in the Bay Economic Zone.
The company will create employment opportunities for around 1,500 people. It will produce active sportswear, ready to wear garments, sleepwear, leisure clothing and outdoor garments.
The agreement signing ceremony will be held in the capital, where Beza Executive Chairman Shaikh Yusuf Harun will be the chief guest.
Shaikh Yusuf Harun told The Business Standard, "Foreign investment prospects at this time are very positive for Bangladesh. Following this company, more investors will come to Bangladesh."
"A month ago, Bay Group Managing Director Ziaur Rahman came to my office with the Taiwanese investors. They were very interested in investing in Bangladesh. The Taiwanese company has a factory in Vietnam. They could have expanded their business in Vietnam, but they decided to come here," he added.
Currently, over 33,000 employees work in Makalot's factories in Indonesia, Vietnam, Cambodia, China and the Philippines. The company's state-of-art enterprise resource planning (ERP) system has made it the leader of the apparel industry in Taiwan, and a strategic partner for major retailers across the US, Europe, Japan, Taiwan and China, says its website.
According to Beza sources, about $67.5 million has already been invested in the Bay Economic Zone.
The Beza has set a target of building 100 economic zones by 2030 to create employment for 10 million people. It also expects to produce and export products worth $40 billion annually in and from these economic zones.
www.tbsnews.net
According to Bangladesh Economic Zones Authority (Beza) sources, the Bay Economic Zone today will sign an agreement with Makalot (BD) Ltd for allotting over 10,000 square metres of space in the Bay Economic Zone.
The company will create employment opportunities for around 1,500 people. It will produce active sportswear, ready to wear garments, sleepwear, leisure clothing and outdoor garments.
The agreement signing ceremony will be held in the capital, where Beza Executive Chairman Shaikh Yusuf Harun will be the chief guest.
Shaikh Yusuf Harun told The Business Standard, "Foreign investment prospects at this time are very positive for Bangladesh. Following this company, more investors will come to Bangladesh."
"A month ago, Bay Group Managing Director Ziaur Rahman came to my office with the Taiwanese investors. They were very interested in investing in Bangladesh. The Taiwanese company has a factory in Vietnam. They could have expanded their business in Vietnam, but they decided to come here," he added.
Currently, over 33,000 employees work in Makalot's factories in Indonesia, Vietnam, Cambodia, China and the Philippines. The company's state-of-art enterprise resource planning (ERP) system has made it the leader of the apparel industry in Taiwan, and a strategic partner for major retailers across the US, Europe, Japan, Taiwan and China, says its website.
According to Beza sources, about $67.5 million has already been invested in the Bay Economic Zone.
The Beza has set a target of building 100 economic zones by 2030 to create employment for 10 million people. It also expects to produce and export products worth $40 billion annually in and from these economic zones.
Taiwan-based apparel manufacturer Makalot to invest $17m in Bangladesh
Taiwanese apparel manufacturer Makalot Industrial Co Ltd is going to invest $17 million in Bangladesh to set up a factory in the Bay Economic Zone in Gazipur. According to Bangladesh Economic Zones Authority (Beza) sources, the Bay Economic Zone today will sign an agreement with Makalot (BD)...
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- Rampal power plant has already halted operation, Payra power plant is facing closure over coal shortage
- Owners of the country's two biggest coal-fired power plants cannot import coal without clearing $168 million outstanding bills
After the Rampal power plant halted its operations for coal shortage on 14 January, the Payra power plant is also facing closure owing to the same problem stemming from the crisis of dollars needed to pay coal import bills.
Payra power plant's current stock of coal will be exhausted within 10-12 days, said AM Khurshedul Alam, managing director of Bangladesh-China Power Company Limited (BCPCL) which owns the plant, on Monday.
"We are trying to resume coal imports soon by clearing the dues," AM Khurshedul Alam told The Business Standard.
The BCPCL needs to open 12-13 letters of credit (LCs) involving around $70-80 million each month to import coal for the Payra plant, according to sources with knowledge of the matter.
Bangladesh Power Development Board (BPDB) officials said the BCPCL owes $151 million to the suppliers for the coal they received last year.
The Payra power plant authorities cannot open new LCs to import more coal from suppliers as they already have a large amount of unpaid coal import bills, said sources.
Payra 1,320 MW Thermal Power Plant and Maitree Super Thermal Power Project – known as the Rampal power plant – are the country's two biggest coal-fired power plants which run on coal imported from Indonesia.
BPDB officials fear the closure of the two large coal plants could lead to a severe load-shedding in the south-western part of the country and in the capital as well.
The plants will need around four million tonnes of coal each annually to run on full capacity, but due to the dollar crisis, banks have been refusing to generate the bills despite repeated requests.
Because of the outstanding bills, the Payra power plant could not import a single shipment of the coal since the beginning of this month.
Meanwhile, Rampal power plant has been importing coal from Indonesia under a short-term contract for the pre-commission operation of the plant.
The Bangladesh-India Friendship Power Company (Pvt) Ltd (BIFPCL), owner of Rampal plant, yet to have a long-term coal supply contract for running operation commercially.
Under the short-term contract, BIFPCL has imported around 1.5 lakh tonnes of coal and is supposed to import additional 1.5 lakh tonnes.
Rampal power plant began electricity generation on an experimental basis on 15 August last year and owes around $17 million to the suppliers for the coal they have already imported.
Anwarul Azim, deputy general manager of Maitree Super Thermal Power Project, told The Business Standard that the plant has shut down as we could not import coal due to the dollar crisis.
Coal power plants' operation under threat over dollar crisis
Rampal power plant has already halted operation, Payra power plant is facing closure over coal shortage Owners of the country's two biggest coal-fired power plants cannot import coal without clearing $168 million outstanding bills After the Rampal power plant halted its operations for coal...
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Global and local economic crises arising from the pandemic and the ongoing war in Europe that prompted the government to opt for austerity measures in the development sector have now stalled thousands of projects worth lakhs of crores of taka.
The 196-kilometre Elenga-Hatikumrul-Rangpur four-lane highway project was initially scheduled for completion within three years of the beginning of its physical work in September 2016. After a 40% cost overrun and a three-year time extension in 2021, the Tk12,000 crore project with around 60% overall progress is most likely to miss the extended deadline of December 2024.
"Work slowed down due to the Covid pandemic. After that, prices of various construction materials including rods and cement soared at an abnormal rate, but the project cost was not hiked.
"Also, construction firms are not getting their outstanding bills on time," an official of Abdul Monem Limited – one of the four construction firms assigned to the project under the Roads and Highways Department – told The Business Standard, explaining the reasons for a lack of much-needed impetus to the project work.
Like this project many, if not all, of some 1,016 ongoing development projects involving around Tk4,50,000 crore under seven government agencies are mired in delays reportedly for a number of reasons i.e. non-release of funds by the government, high prices of construction materials, no revision to schedule of rates, non-payment of outstanding bills to contractors, and problems in opening LCs to import construction materials amid the dollar crisis.
According to sources involved in the projects, around 60% of these projects are now almost stalled.
Among the seven project-implementing government agencies, the Education Engineering Department has witnessed the highest 53% overall progress in its 245 ongoing projects, while the Water Development Board has seen the lowest – 23% overall progress – in its 91 ongoing projects.
The other five agencies are the Local Government Engineering Department, the Roads and Highways Department, the Public Works Department, the Bangladesh Bridge Authority, and the Department of Public Health Engineering.
Speaking to TBS, stakeholders said they do not know when the continuing development projects will see completion after overcoming the delay amid the present economic crisis. But they have suggested some possible ways out.
Abdur Razzak, general secretary of the Bangladesh Thikadar Oikya Parishad – an association of contractors, said, "Getting out of the kind of problems that are going on in the country due to the current global situation may take time. But the government authorities concerned should attach priority to the ongoing projects instead of starting any new projects. They also need to make sure that the contractors do not face losses."
He went on to say that when a construction firm starts working on a project, it pays source tax, VAT, and other taxes to the government. Therefore, it is very important to manage the required money for the ongoing projects to keep them running and to revise the schedule of rates in accordance with the current market prices.
Why are the projects stuck?
All of the ongoing development projects were approved by the Executive Committee of the National Economic Council (Ecnec) in the period between FY2016-17 and FY2020-21, said Engineer Shafiqul Haque Talukder, president of the Bangladesh Association of Construction Industry. He added that the implementation of these projects faced a setback in mid-2020 when Covid-19 caused an economic slowdown and movement restrictions around the world.
Then the outbreak of the Russia-Ukraine war in early 2022 only added to the woes, leading to a 30%-50% hike in the prices of construction materials including rods and cement, he added.
"But even if the essential construction materials became pricier, project costs were not revised. This put contractors in trouble and most of them halted construction work. And since the Russia-Ukraine war dragged on, the country experienced high inflation and a shortage of foreign currency reserves."
Against such a backdrop, the government opted for austerity in allocating funds for development projects, he noted, adding, "As a result, although some funds were released for 'A' category projects in FY20 and FY21, fund disbursement was held up for most of the lesser priority projects. As a result, most of the projects are almost stopped now."
Even though there is a provision for releasing funds for "A" category development projects within one year of fund allocation approval, fund disbursement for these projects has also remained suspended owing to the current global economic situation, according to people concerned.
Shortage of funds
Officials of various project-implementing government agencies told TBS that the government has halted releasing funds for development projects to deal with the economic downturn induced by Covid and the Ukraine war.
An official of the finance ministry said on condition of anonymity that the funds allocated in the national budget for development projects are managed from various sources including the government's revenue income, related organisations own funds, grants from various development partners, and loans from foreign banks.
"Funds for most mega projects are sourced from various foreign banks. As a result, there is less money crunch for mega projects."
But getting funding for medium or small projects has become a bit difficult as there is a shortage of funds with the government and organisations concerned.
How many projects in which category?
Officials said that government development projects are approved in "A", "B" and "C" categories.
Funds for "A" category projects are generally fully disbursed within one year of allocation. "B" category projects are supposed to get 50% of allocated funds disbursed within the fiscal year and "C" category ones are supposed to get 5% to 10% funds disbursed in one year.
According to LGED sources, out of 114 ongoing projects under this agency, 54 are in the "A" category, 22 are in "B" and the rest are in the "C" category.
The number of "A", "B", and "C" category projects among 174 running roads and highways projects are 92, 54, and 28, respectively.
About 50% of the development projects currently being implemented by other government agencies are "A" category ones, according to the Bangladesh Association of Construction Industry.
Non-payment of outstanding bills
In September 2019, the Water Development Board took up a project involving a cost of around Tk1,100 crore to prevent erosion of the River Padma in Nariya and Zajira upazilas of Shariatpur.
An official of the construction firm Bengal Construction told TBS that there was pressure to complete the project quickly ahead of the inauguration of the Padma Bridge in June last year. Although the contractor has received about Tk800 crore for the project, the remaining Tk300 crore is still outstanding, which the construction firm has borrowed from two banks.
The project work was completed in March last year.
Similarly, the contractors of 70% of the 91 projects running for the last four years under the Water Development Board have outstanding bills with the board for the work they have done.
Asked about this, Md. Mahbur Rahman, director general of the Bangladesh Water Development Board, told TBS, "There are certain procedures to release money for a project. And contractors receive bills from time to time on competition of a certain portion of work.
"Besides, everyone is aware of the current problem. Many outstanding bills have been paid. The remaining ones will also be paid off soon."
No progress on new schedule of rates
After the start of the Russia-Ukraine war in February last year, prices of various construction materials increased due to transportation problems on various routes, including the Black Sea, and an increase in freight rates for transporting goods.
Prices of rods have gradually increased to stand at Tk92,000 per tonne at present, which was Tk72,000 in 2020. At present, the prices of each 50-kg bag of cement are ranging from Tk500-550, up from around Tk400 in 2020.
In the meantime, bitumen prices have surged to Tk9,700-9,800 per drum from Tk6,500. Prices of bricks also have gone up by almost 50% over the past two years.
But the schedule of rates for contractors was last updated in 2019 where the prices of construction materials were determined according to the then market prices.
Abdul Monem Limited Managing Director Mainuddin Monem told TBS that the prices of materials have gone up much higher than what the contractors agreed on as per the existing schedule of rates, which is holding up construction work.
Contractors will not spend money from their own pockets, he said, urging the government to take prompt action to revise the schedule of rates.
Construction firms are not interested in participating in any tender as per the old schedule of rates, said people concerned.
Asked, an official of the Planning Division told TBS that the government is in the process of preparing a unified schedule of rates for all ministries and divisions. If formulated, it will eliminate the opportunity for different firms to charge different prices for similar work, the official added.
The increase in the prices of goods and materials will be taken into consideration while formulating the new schedule of rates. We can say how much the cost of the projects will increase only after the schedule is made.
But the initiative is still being discussed, he said, adding that it will take some time to make a final decision in this regard.
Kazi Wasi Uddin, secretary of the Public Works Department said, "A crisis is going on all over the world and Bangladesh is also influenced by this."
He acknowledged that various development projects are facing problems, and said they are trying to keep their projects running by coordinating with the contractors.
LC problems
Manwar Hossain, president of the Bangladesh Auto Re-Rolling and Steel Mills Association, told TBS that businesses are facing problems in importing raw materials of cement and rods owing to difficulties in opening LCs amid the dollar crisis. As a result, it is not possible to reduce the market prices of these construction materials, he said.
If the Russia-Ukraine war drags on longer, the problem will intensify, he maintained.
Economist Dr Ahsan Ai Mansur said the government can initiate currency swaps with the countries from which various construction materials, especially raw materials of rods and cement, are imported.
Fund crisis, cost rise stall over 1,000 dev projects
Global and local economic crises arising from the pandemic and the ongoing war in Europe that prompted the government to opt for austerity measures in the development sector have now stalled thousands of projects worth lakhs of crores of taka. The 196-kilometre Elenga-Hatikumrul-Rangpur...
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Commerce Minister Tipu Munshi said planning is underway to set up factories in the Rangpur region.
"Rangpur has great potential for trade and commerce. Big companies and investors have started contacting and inspecting sites to set up factories in the region," said the minister at a meeting with leaders and activists of Bangladesh Awami League Pirgacha branch in Rangpur on Monday (23 January).
"The work of upgrading the Dhaka-Rangpur highway to four lanes is in full swing and installing gas supply lines in Rangpur will be completed in the next few days," he said adding that there will be no hindrance in setting up industrial plants there.
"Now, the international community is praising the development of our country. Big projects are being implemented and development is now visible in all areas," the minister said.
Addressing the 561 candidates for the post of president and general secretary of 81 wards of the upazila, the minister said, "Even if you do not get the position, you have to work for the party and the country. It is our responsibility."
Rangpur District Awami League Joint Convenor Majed Ali Babul, Pirgacha upazila Awami League President Taslim Uddin, General Secretary Abdullah Al Mahmud Milon were also present at the meeting.
Earlier, the minister inaugurated a winter blanket distribution programme organised by Dhaka United Business Club for the underprivileged people of the upazila.
He was present as the chief guest in the felicitation ceremony for students who obtained GPA-5 in SSC and Dakhil examination in Tambulpur union of Pirgacha upazila.
www.tbsnews.net
The state-owned petroleum exploration and production company Bapex has found gas in Bhola North-2 well.
The discovery came at a time when factories and residences in the country are facing energy shortages.
It will be possible to extract 20 million cubic feet of gas daily from the well, the Ministry of Power, Energy and Mineral Resources wrote on its Facebook page Monday.
Bapex started digging on 5 December last year and found gas 3,528 metres into the well.
"A drill stem test (DST) started at 5pm Monday and the quantity of stock and daily extraction could be known after 72 hours," said Bapex Managing Director Mohammad Ali.
However, unless a gas pipeline is established from the island district of Bhola to the mainland, there will be no benefit from the gas found there to meet the country's energy crisis, said sources at the Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla).
Last year, Bapex increased gas production by around 55 million cubic feet per day (mmcf/d) after drilling in some verging and marginal wells, including 20 mmcfd capacity in Tabgi-1.
The newly added production – which is around half of the country's daily gas supply from the pricier international spot market – was possible due to scaled-up exploitations, development and workover of wells.
Around 35 mmcf/d of gas of the extra production has already been pumped into the national grid while 20 mmcf/d is now on standby as the country's energy woes started to ease up compared to a couple of months ago, according to the Energy and Mineral Resources Division.
After cushioning the LNG import shock, the Energy and Mineral Resources Division now says that another 217 mmcf of gas from 15 wells will flow into the national grid per day in 2023.
Besides, the division in its long-term plan targets ramping up the production by 618 mmcf/d by 2025 through explorations, development and workover of 46 wells.
www.tbsnews.net
As part of the government's sincere efforts to expand clean energy arena in the country, a 60-megawatt (MW) wind power project is scheduled to come into production in June, official sources said.
The sources said that a private firm US-DK Green Energy (BD) Limited is setting up the country's first and largest wind energy project at Khurushkul in Cox's Bazar.
While visiting this correspondent last week at the project site, Manager (Project and Planning) Mukit Alam Khan said that as per an agreement, the state-owned Bangladesh Power Development Board (BPDB) will buy the electricity from here.
"A total of 22 turbines will be installed to generate 60 MW power from wind, of which each turbine will generate 3-MW electricity. Till today 10 turbines have already been installed," he said.
Mukit Alam said that two turbines will be installed as standby for back up.
"We have submitted a proposal to the ministry of power, energy and mineral resources for enhancing generation capacity up to 120 MW, which will also require more 20 turbines," he added.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid told BSS that the project is showing a new path to producing environment friendly renewable energy through clean sources, as the Awami League government led by Prime Minister Sheikh Hasina is committed to increase clean energy stake in phases.
"Renewable energy will play an important role in future power generation. The contribution of renewable energy in the energy mix of the country has been growing," he said.
Nasrul Hamid, however, said more wind power plants will be set up in different locations of the country.
"Bangladesh is now enjoying 100% electrification due to the visionary and prudent leadership of Prime Minister Sheikh Hasina. We successfully reached power to all people from inaccessible hills to isolated char areas," he said.
Earlier on 31 March, 2022, Nasrul Hamid had laid the foundation stone of the project. However, the Power Purchase Agreement (PPA) and Implementation Agreement (IA) were done on 15 May, 2014.
Deputy Managing Director of Cox's Bazar 60 MW Wind Power Plant Project Hei Zhao (Brett) said that the US-DK Green Energy (BD) Limited has been investing $116.51 million to develop the plant.
He said the modern power plant will generate 60MW of electricity, which will have scope to enhance generation capacity up to 200 MW.
As part of the government's integrated master plan for the power and energy sector, the Integrated Energy and Power Master Plan (IEPMP) are almost at its final stage.
The present renewable energy installed capacity now rose to 950.72 MW.
The government started the Solar Home System (SHS) programmes to fulfill basic electricity requirement of the off-grid rural people of the country.
Up to January 2023, about 6.1 million SHSs have been installed under the programme in the remote areas where electrification through gird expansion is challenging and costly.
Thus the programmes have ensured supply of solar electricity to over 20 million people i.e. 12% of the country's total population who previously used kerosene lamps for lighting purpose.
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"Rangpur has great potential for trade and commerce. Big companies and investors have started contacting and inspecting sites to set up factories in the region," said the minister at a meeting with leaders and activists of Bangladesh Awami League Pirgacha branch in Rangpur on Monday (23 January).
"The work of upgrading the Dhaka-Rangpur highway to four lanes is in full swing and installing gas supply lines in Rangpur will be completed in the next few days," he said adding that there will be no hindrance in setting up industrial plants there.
"Now, the international community is praising the development of our country. Big projects are being implemented and development is now visible in all areas," the minister said.
Addressing the 561 candidates for the post of president and general secretary of 81 wards of the upazila, the minister said, "Even if you do not get the position, you have to work for the party and the country. It is our responsibility."
Rangpur District Awami League Joint Convenor Majed Ali Babul, Pirgacha upazila Awami League President Taslim Uddin, General Secretary Abdullah Al Mahmud Milon were also present at the meeting.
Earlier, the minister inaugurated a winter blanket distribution programme organised by Dhaka United Business Club for the underprivileged people of the upazila.
He was present as the chief guest in the felicitation ceremony for students who obtained GPA-5 in SSC and Dakhil examination in Tambulpur union of Pirgacha upazila.
Planning underway to set up factories in Rangpur: Tipu Munshi
Commerce Minister Tipu Munshi said planning is underway to set up factories in the Rangpur region. "Rangpur has great potential for trade and commerce.
The state-owned petroleum exploration and production company Bapex has found gas in Bhola North-2 well.
The discovery came at a time when factories and residences in the country are facing energy shortages.
It will be possible to extract 20 million cubic feet of gas daily from the well, the Ministry of Power, Energy and Mineral Resources wrote on its Facebook page Monday.
Bapex started digging on 5 December last year and found gas 3,528 metres into the well.
"A drill stem test (DST) started at 5pm Monday and the quantity of stock and daily extraction could be known after 72 hours," said Bapex Managing Director Mohammad Ali.
However, unless a gas pipeline is established from the island district of Bhola to the mainland, there will be no benefit from the gas found there to meet the country's energy crisis, said sources at the Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla).
Last year, Bapex increased gas production by around 55 million cubic feet per day (mmcf/d) after drilling in some verging and marginal wells, including 20 mmcfd capacity in Tabgi-1.
The newly added production – which is around half of the country's daily gas supply from the pricier international spot market – was possible due to scaled-up exploitations, development and workover of wells.
Around 35 mmcf/d of gas of the extra production has already been pumped into the national grid while 20 mmcf/d is now on standby as the country's energy woes started to ease up compared to a couple of months ago, according to the Energy and Mineral Resources Division.
After cushioning the LNG import shock, the Energy and Mineral Resources Division now says that another 217 mmcf of gas from 15 wells will flow into the national grid per day in 2023.
Besides, the division in its long-term plan targets ramping up the production by 618 mmcf/d by 2025 through explorations, development and workover of 46 wells.
Gas found in Bhola North-2 well
20m cubic feet gas can be extracted daily from the well, says ministry
As part of the government's sincere efforts to expand clean energy arena in the country, a 60-megawatt (MW) wind power project is scheduled to come into production in June, official sources said.
The sources said that a private firm US-DK Green Energy (BD) Limited is setting up the country's first and largest wind energy project at Khurushkul in Cox's Bazar.
While visiting this correspondent last week at the project site, Manager (Project and Planning) Mukit Alam Khan said that as per an agreement, the state-owned Bangladesh Power Development Board (BPDB) will buy the electricity from here.
"A total of 22 turbines will be installed to generate 60 MW power from wind, of which each turbine will generate 3-MW electricity. Till today 10 turbines have already been installed," he said.
Mukit Alam said that two turbines will be installed as standby for back up.
"We have submitted a proposal to the ministry of power, energy and mineral resources for enhancing generation capacity up to 120 MW, which will also require more 20 turbines," he added.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid told BSS that the project is showing a new path to producing environment friendly renewable energy through clean sources, as the Awami League government led by Prime Minister Sheikh Hasina is committed to increase clean energy stake in phases.
"Renewable energy will play an important role in future power generation. The contribution of renewable energy in the energy mix of the country has been growing," he said.
Nasrul Hamid, however, said more wind power plants will be set up in different locations of the country.
"Bangladesh is now enjoying 100% electrification due to the visionary and prudent leadership of Prime Minister Sheikh Hasina. We successfully reached power to all people from inaccessible hills to isolated char areas," he said.
Earlier on 31 March, 2022, Nasrul Hamid had laid the foundation stone of the project. However, the Power Purchase Agreement (PPA) and Implementation Agreement (IA) were done on 15 May, 2014.
Deputy Managing Director of Cox's Bazar 60 MW Wind Power Plant Project Hei Zhao (Brett) said that the US-DK Green Energy (BD) Limited has been investing $116.51 million to develop the plant.
He said the modern power plant will generate 60MW of electricity, which will have scope to enhance generation capacity up to 200 MW.
As part of the government's integrated master plan for the power and energy sector, the Integrated Energy and Power Master Plan (IEPMP) are almost at its final stage.
The present renewable energy installed capacity now rose to 950.72 MW.
The government started the Solar Home System (SHS) programmes to fulfill basic electricity requirement of the off-grid rural people of the country.
Up to January 2023, about 6.1 million SHSs have been installed under the programme in the remote areas where electrification through gird expansion is challenging and costly.
Thus the programmes have ensured supply of solar electricity to over 20 million people i.e. 12% of the country's total population who previously used kerosene lamps for lighting purpose.
60MW wind power project in Cox's Bazar to come in June
As part of the government's sincere efforts to expand clean energy arena in the country, a 60-megawatt (MW) wind power project is scheduled to come into production in June, official sources said. The sources said that a private firm US-DK Green Energy (BD) Limited is setting up the country's...
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Runner Automobiles is all set to launch the country's maiden "Made in Bangladesh" three-wheeled auto-rickshaw on February 11.
At least 70 per cent of the vehicle, including the chassis, body and tyre, except for some components of the engine, is said to have been made locally through technical collaborations with Indian automaker Bajaj Auto.
In global practice, the country of origin of a vehicle is mentioned if at least 30 per cent of the components are made locally.
Experts of Bajaj have supervised the manufacturing process at Runner's factory in Mymensingh's Bhaluka and conducted test runs of the vehicle, which can run on liquefied petroleum gas (LPG) and compressed natural gas (CNG).
The vehicle will cost at least 15 per cent less than ones currently imported, said Runner officials. Imported auto-rickshaws can currently end up costing at least Tk 6 lakh.
Around 16,500 three-wheelers were registered on an average per year in the past 12 years, according to Bangladesh Road Transport Authority.
Established on 9.2 acres of land at cost of Tk 300 crore, the Runner factory can churn out 30,000 vehicles per year to meet local demand and for export. It created jobs for 300 people.
The factory comprises modern welding lines, electrochemical painting processes, slot conveyors controlled by automation, torque controlled pneumatic guns, dynamometers and equipment to test suspensions and engines.
"I believe this plant will help revolutionise the country's automobile sector and make a significant contribution to the economy," said Hafizur Rahman Khan, chairman of Runner Group.
If the government provides policy support, the vehicles can be sold around the world, he said.
"All the workers at our factory are fully trained," Khan said. Runner states it was a brand in competition with foreign renowned brands by providing quality at every stage of production and proper after-sales service.
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At least 70 per cent of the vehicle, including the chassis, body and tyre, except for some components of the engine, is said to have been made locally through technical collaborations with Indian automaker Bajaj Auto.
In global practice, the country of origin of a vehicle is mentioned if at least 30 per cent of the components are made locally.
Experts of Bajaj have supervised the manufacturing process at Runner's factory in Mymensingh's Bhaluka and conducted test runs of the vehicle, which can run on liquefied petroleum gas (LPG) and compressed natural gas (CNG).
The vehicle will cost at least 15 per cent less than ones currently imported, said Runner officials. Imported auto-rickshaws can currently end up costing at least Tk 6 lakh.
Around 16,500 three-wheelers were registered on an average per year in the past 12 years, according to Bangladesh Road Transport Authority.
Established on 9.2 acres of land at cost of Tk 300 crore, the Runner factory can churn out 30,000 vehicles per year to meet local demand and for export. It created jobs for 300 people.
The factory comprises modern welding lines, electrochemical painting processes, slot conveyors controlled by automation, torque controlled pneumatic guns, dynamometers and equipment to test suspensions and engines.
"I believe this plant will help revolutionise the country's automobile sector and make a significant contribution to the economy," said Hafizur Rahman Khan, chairman of Runner Group.
If the government provides policy support, the vehicles can be sold around the world, he said.
"All the workers at our factory are fully trained," Khan said. Runner states it was a brand in competition with foreign renowned brands by providing quality at every stage of production and proper after-sales service.
Runner to launch locally-made auto-rickshaws
Runner Automobiles is all set to launch the country’s maiden “Made in Bangladesh” three-wheeled auto-rickshaw on February 11.
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The government on Tuesday officially started the feasibility study for the proposed Chattogram metro rail project and the Chattogram transport master plan to ease the traffic congestion in the port city.
Road, Transport and Bridges Minister Obaidul Quader announced the inauguration of the feasibility study via a video conference at a programme held at Hotel Radisson Blu Bay View, Chattogram.
According to the Dhaka Transport Coordination Authority (DTCA), the cost for the feasibility study has been estimated at around Tk70.63 crore.
The Bangladesh government will provide Tk13.63 crore and the Korea International Cooperation Agency (Koica) will provide Tk57 crore. The feasibility study will run from January 2023 to June 2025.
The feasibility study, which was approved at a meeting of the Executive Committee of the National Economic Council (Ecnec) on 22 November 2022, will run from January 2023 to June 2025.
Obaidul Quader said, "The government is trying to make Chattogram a financial hub for the whole world. The feasibility study for the transport master plan and the metro rail project has been taken in line with that effort."
The minister further said the work on formulating the development project proposal for another marine drive from Mirsarai to Cox's Bazar is under way.
"Besides, the work of upgrading the Chattogram-Cox's Bazar road into four lanes with the assistance of the Japan International Cooperation Agency (Jica) is under process. Moreover, the access road will be upgraded to six lanes to facilitate the transportation of goods from Chattogram port to different areas of the country," he said.
Tony Ilho Chung, project manager of Korea International Cooperation Agency (Koica), presented a power presentation on the proposed Chattogram Metro Rail project and the plan to solve the port city's traffic congestion problems.
Sources said the capacity of the Dhaka Transport Coordination Authority (DTCA), Chattogram Development Authority (CDA), Chattogram City Corporation (CCC) and Chattogram Port Authority (CPA) will be enhanced for better traffic management under the project.
Information and Broadcasting Minister Dr Hasan Mahmud was also present at the inauguration programme at the Hotel Radisson Blu, Chattogram.
He said, "I will request the project implementing company to include the Bangabandhu Shilpanagar, Chattogram University and the city on the other side of the Karnaphuli River in this plan for survey work. Because this project will make Chattogram city more beautiful in the future."
Road Transport and Highways Division Secretary ABM Amin Ullah Nuri, Chattogram City Mayor M Rezaul Karim Chowdhury, CDA Chairman Zahirul Alam, and Korean Ambassador to Bangladesh Lee Jang Keun were also present at the event among many others.
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Once constructed, the country's first-ever underground metro rail is expected to shorten the travel time between Kamalapur and the Dhaka airport by 85%, a development that will offer a big relief to commuters.
According to the project documents, the travel time will drop to 24.3 minutes from an average of 139 minutes by using existing road facilities.
The metro rail, known as MRT Line 1, will help save 70% of travel time on the Purbachal to Natun Bazar route and 82% on the Purbachal to Kamalapur route.
"The minimum depth of the underground rail tracks will be 30 metres which will go up to 70 metres underground in some points, covering a part of the city from the airport to Kamalapur," said MAN Siddique, managing director of the Dhaka Mass Transit Company Limited (DMTCL), at a press briefing on Tuesday, ahead of the inauguration of the construction of MRT Line 1.
He said the metro rail will not require the relocation of any utility lines, as there are none below 10 metres in the capital. The construction will progress rapidly, and the commercial operation of the line will begin by 2026, as per the previous plan.
Prime Minister Sheikh Hasina is officially going to inaugurate the Tk52,561 crore project on Thursday, allowing the country to enter the era of underground metro rail.
Siddique said that the prime minister will unveil the foundation plaque beside the Pitalganj depot area at 11am in the presence of around 1 lakh people. Then, she will attend a grand ceremony to be held beside the local Brahmankhali High School field in the presence of around 10 lakh people.
Officials said that the Ecnec approved the MRT Line 1 project in October 2019 with a deadline to conclude the work by 2026. The Japan International Cooperation Agency (Jica) will provide a soft loan of Tk39,450 crore, which is about 75% of the entire project cost.
The project, approved for a period of seven years and three months, is taking about three and a half years to start. In this situation, when asked how the work will be completed on time, Siddique said, "It has already taken a lot of time to prepare the basic design and detailed design. However, contracts for several packages of the main line construction have been finalised. After awarding all these contracts, work will be done together in different locations, which will take less time."
He also said that underground excavation will be done with three tunnel boring machines. Usually, this will be done at a depth of 30 metres. However, due to the narrowness of roads in several places, including Rajarbagh, another tunnel will be laid under one tunnel. In that case, the depth of the lower tunnel will be 70 metres.
The managing director also stated that no public suffering would occur during the construction of this line.
The 31.241km rail line will have 19 stations, and 12 of them will be underground.
He said that the stations would be developed following the open-cut method. Half of the road to occupy would be cut, and it would be covered with some metal sheets. Other parts of the road will be cut, opening the portion of road that had been cut previously.
MAN Siddique said that around six months will be required for constructing stations, and it will cause public suffering at a minimum level.
The project will be implemented through 12 packages, with package 1, "improving soil and developing land of 35.90 hectares" at the depot area, to be inaugurated on Thursday.
The package, worth Tk607.65 crore, was awarded to a joint venture of Japan's Tokyu Construction and local Max Infrastructure.
Officials said that around 25 trains will be operated on the line, and each of them will have eight coaches. Each hour, a total of 27,770 passengers will ride the proposed line's metro system, with daily ridership reaching 18,770,000 by 2035.
3.35 lakh passengers rode on MRT Line 6
The DMTCL earned a revenue of Tk2.46 crore from 3.35 lakh passengers till 30 January since the service was opened to the public in a limited capacity on 29 December last year, said MAN Siddique responding to a question.
"It should be kept in mind before talking about the revenue of metro rail that the service is currently running on a limited scale. A full-day service with stoppage at all stations will increase the number of riders and revenue," he added.
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Prime Minister Sheikh Hasina today inaugurated 26 development projects including seven of the Rajshahi City Corporation (RCC), worth around TK 1,316.97 crore, during her daylong visit.
She also laid foundation stones of six other projects with an estimated cost of TK 376.28 crore.
The prime minister opened and laid foundation stones of those projects joining a mammoth public gathering organised by Rajshahi city and district units of Bangladesh Awami League (AL) at historic Madrasha ground.
Official sources said the implemented projects include a 58-feet Mural of Father of the Nation Bangabandhu Sheikh Mujibur Rahman - built by the RCC at the city's Rajshahi C&B Crossing at a cost of around TK 5.03 crore.
The RCC has also implemented other projects including Sheikh Russel Shishu Park, Flyover on Mohanpur Railway Crossing, four-lane road and road divider with a separate lane for slow moving vehicles from Vadra Rail Crossing to Nawdapara bus terminal, four-lane road and road divider including a separate lane for slow-moving vehicles from Bilsimla railway crossing to City Hat and road widening, development from Kalpana Cinema Hall to Talaimary crossing and carpeting road, drain and footpath construction from Rentur Kharir Arat to Dhalur More via Hi-tech Park and carpeting road from Court to Shahartali Club.
Aimed at opening up a new horizon in recreation, particularly for the children, the Sheikh Russel Shishu Park on 2.14 acre in Chhotobangram area with an estimated cost of TK 4.43 crore is nearing completion.
The Roads and Highway Department has constructed a highway from Puthiya to Bagmara at a cost of TK 116.83 crore.
Rajshahi Krishi Unnayan Bank (RAKUB) has implemented upward extension works from the sixth floor to tenth floor of its head office at a cost of TK 10.21 crore.
Rajshahi Metropolitan Police (RMP) has built its headquarters building at a cost of TK 20.08 crore.
Rajshahi National Heart Foundation Hospital has been established in Laxmipur area at a cost of TK 14.46 crore.
A Technical Training Centre has been built at Mohanpur Upazila at a cost of TK 22.18 crore.
Rajshahi Shishu Hospital has also been established at a cost of around TK 22.90 crore.
Rajshahi Medical College has constructed its administrative building at a cost of around TK 15 crore.
A multi-storey Social Service Complex has been built in Rajshahi involving around TK 12.78 crore.
A two-storey female hostel building has been constructed on a six-storey foundation at Rajshahi Government Women's College with TK 5.58 crore.
A five-storey academic building of Technical School and College has been built at Charghat costing around TK 17.20 crore.
A multipurpose building has been constructed at Rajshahi Medical College and Hospital at a cost of around TK 8.96 crore. The Civil Surgeon Office has also been established at a cost of TK 4.27 crore.
Bangladesh Water Development Board has been implementing two projects to protect the left banks of the Padma River from erosion in Charghat and Bagha Upazilas involving around TK 694.34 crore.
The Local Government Engineering Department (LGED) has been constructing two roads under its Rural Connectivity Improvement Project involving around TK 43.96 crore.
A multipurpose auditorium has been constructed at Rajshahi PTI at a cost of TK 8.92 crore.
The Upazila Muktijoddha Complex Building has been built in Rajshahi city at a cost of TK 2.81 crore.
On the other hand, the foundation stone-laying projects are - TK 24 crore Information Complex, TK 8.35 crore Regional PSC Office Building, TK 62 crore Shaheed Janani Zahanara Imam Girls High School, TK 53 crore Shaheed AHM Kamaruzzaman Boys High School, TK 162 crore BKSP Regional Training Centre and TK 66 crore Rajshahi WASA Building.
www.tbsnews.net
Highlights-
The embattled foreign reserves of Bangladesh is finally set for some respite after the International Monetary Fund (IMF) late on Monday approved a loan of $4.7 billion for the country.
Calling for ambitious reforms to achieve more resilient, inclusive, and sustainable growth, the money-lender hoped that those would focus on creating fiscal space to enable greater social and developmental spending; strengthen the financial sector; modernise policy frameworks; and build climate resilience.
The loans are to be given in tranches over a "42-month programme to help preserve macroeconomic stability, protect the vulnerable, and foster inclusive and green growth," a press release said.
Bangladesh will get about $3.3 billion under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) and about $1.4 billion under the Resilience and Sustainability Facility (RSF), an IMF press release on early Tuesday said.
Besides, there will be an immediate disbursement of about $476 million as the first of the seven instalments over 42 months.
The remaining amount will be in six equal instalments of $704 million each.
Confirming the matter to The Business Standard, Bangladesh's Finance Minister AHM Mustafa Kamal said, "We are certainly grateful to the IMF for this loan. Special thanks and appreciation to the team that visited Bangladesh on this loan, including IMF Deputy Managing Director [DMD] Antoinette Monceau Sayeh and Head of Mission Rahul Anand.
The finance minister further said, "Many doubted that the IMF might not give us this loan. They thought the fundamental areas of our macroeconomy were weak, so the IMF would refrain from lending. This loan approval also proves that the fundamental areas of our macroeconomy are standing on a solid foundation and are better than many other countries."
IMF DMD Antoinette Monceau Sayeh said, "While confronting challenges resulting from the global headwinds, the authorities [Bangladesh] need to accelerate their ambitious reform agenda to achieve a more resilient, inclusive, and sustainable growth. In this regard, substantial investment in human capital and infrastructure will be needed to achieve Bangladesh's aspiration to reach upper-middle income status by 2031 and meet the Sustainable Development Goals [SDGs]."
Opening the floodgate
The sum of the loan may seem paltry at first glance, but according to experts, there's more to it than that which meets the eye.
In the last fiscal year, the Bangladesh Bank alone supplied more than $4.5 billion to the market to prop up the exchange rate. At the same time, import bills were averaging around $6 billion a month.
On paper, the $4.7 billion could realistically meet import bills for around 15 days only.
But the fresh injection is set to boost reserves, which fell to $32.29 billion on 26 January due to a high import payment obligation against a low dollar supply.
In August 2021, the reserves stood at a record $48.6 bn.
The loan will also bring in much-needed dollars, alleviating the currency crunch which has led to a halt in opening Letters of Credit (LCs).
Another reason, identified as a key, behind the loan is it will mean IMF's seal of approval going forward.
For creditors, an IMF loan would be a sign of a country's credit worthiness. In a period of collapsing economies, this worthiness could be the difference between bankruptcy and survival.
This fact has also been emphasised by the finance minister.
"We are using the IMF. If the IMF, after duly completing the audit of the books and accounts of the country, says Bangladesh is doing fine, nobody else will say no to us," AHM Mustafa Kamal said in a briefing soon after meeting a visiting IMF mission in November.
The IMF's greenlight can help Bangladesh secure more than $1 billion in loans from other development partners as well.
At the same time, there remains a lot of work to be done.
An era of reforms
According to IMF DMD Antoinette Monceau Sayeh, the ECF/EFF arrangement will protect macroeconomic stability and rebuild buffers while helping to advance the authorities' reform agenda.
According to Sayeh, the implementation of the domestic revenue mobilisation strategy that relies on both tax policy and revenue administration reforms will allow increasing social, development and climate spending sustainably while fiscal reforms to strengthen the management of public finance, investment, and debt will improve spending efficiency, governance, and transparency.
In an interview with a national daily, Sayeh had brought attention to revenue mobilisation and the financial sector, specifically Bangladesh's tax-to-GDP ratio -- at around 9 percent of GDP -- making it one of the lowest in the world.
"We think it can be considerably increased by looking at tax exemptions," she had said, calling for modernisation of the tax system and improvements in revenue collection.
Reiterating the call yesterday, Sayeh said, "Reducing financial sector vulnerabilities, strengthening oversight, enhancing governance and the regulatory framework, and developing capital markets will help mobilise financing to support growth objectives."
In regards to the country's robust economic recovery, the DMD advised structural reforms to create a conducive environment to expand trade and foreign direct investment, deepening the financial sector, developing human capital, and improving governance to enhance the business climate are needed to lift growth potential.
Mentioning Covid-19 pandemic and subsequent Russia-Ukraine war among the multiple shocks that have interrupted the economic performance making macroeconomic management challenging in the country, Sayeh said, "The authorities recognise these challenges and also the need to tackle climate change issues, which expose the economy to large risks that could threaten macroeconomic stability."
With the approval of a $1.4 billion loan under the Resilience and Sustainability Facility (RSF), Bangladesh became the first country in Asia to receive a loan from the fund created for low and middle-income countries that are at risk due to climate change.
IMF said, "The authorities [Bangladesh] recognise that in addition to tackling these immediate challenges, long-standing structural issues and vulnerabilities related to climate change will also need to be addressed to accelerate growth, attract private investment, enhance productivity, and build climate resilience."
"The concurrent RSF arrangement will supplement the resources made available under the ECF/EFF to expand the fiscal space to finance climate investment priorities identified in the authorities' plans, help catalyse additional financing, and build resilience against long-term climate risks," it added.
Earlier, the first country in the world to receive this IMF loan was Barbados, followed by Costa Rica and Rwanda, after the IMF executive board approved the fund on 13 April 2022 and it became effective on 1 May 2022.
According to finance ministry officials, the Bangladesh government has pledged to reduce corruption in the country as a condition for the loan amid the forex crunch. The ministry has made the commitment in the Memorandum of Economic and Financial Policy signed with the Wasington-based lender.
On Monday, however, Bangladesh ranked as the 12th most corrupt country among the 180 countries scored in the Global Corruption Perception Index 2022 of Transparency International.
Declining one point from the previous year 2021 Bangladesh's score is 25 out of 100 this year, it meant corruption increased during the last year, disclosed Dr Iftekharruzzaman, executive director of Transparency International Bangladesh.
In addition to reducing corruption, there are about 30 conditions in the loan agreement, including dynamic adjustment of fuel prices, bringing down the default loan of state-owned banks to 10%, setting up asset management companies to recover defaulted loans, and leaving the exchange rate to the market, according to the officials.
However, the set of conditions does not incorporate lifting the interest rate cap on bank lending and deposits, they confirmed.
Finance ministry officials further said gas and electricity prices have already been hiked as part of IMF's conditions for reducing subsidies.
The agency stipulated that monetary policy announcements should be made four times a year, while Bangladesh has agreed to three announcements per year. And as part of that, the Bangladesh Bank announced a monetary policy in January this year.
The central bank has promised a market-based exchange rate in the new monetary policy as per the IMF terms. The size of the Export Development Fund (EDF) has also been decided to be reduced by $1 billion.
Apart from this, the IMF has set conditions for separating the allocation of interest on savings certificates and pensions of government employees from the social safety net allocation, which the Finance Division may implement in the next fiscal year.
Finance ministry officials said that the government had no obligation to fulfill any condition before the first installment.
An IMF team led by Rahul Anand visited Dhaka from 26 October to 9 November 2022, to thrash out the details of the programme.
After that the IMF's vice president, Antoinette Monsio Sayeh, visited Bangladesh from 14-18 January and praised the economic development and social progress she witnessed during her visit, saying it has left an impression on the whole world. Sayeh also congratulated Prime Minister Sheikh Hasina on that.
www.tbsnews.net
Road, Transport and Bridges Minister Obaidul Quader announced the inauguration of the feasibility study via a video conference at a programme held at Hotel Radisson Blu Bay View, Chattogram.
According to the Dhaka Transport Coordination Authority (DTCA), the cost for the feasibility study has been estimated at around Tk70.63 crore.
The Bangladesh government will provide Tk13.63 crore and the Korea International Cooperation Agency (Koica) will provide Tk57 crore. The feasibility study will run from January 2023 to June 2025.
The feasibility study, which was approved at a meeting of the Executive Committee of the National Economic Council (Ecnec) on 22 November 2022, will run from January 2023 to June 2025.
Obaidul Quader said, "The government is trying to make Chattogram a financial hub for the whole world. The feasibility study for the transport master plan and the metro rail project has been taken in line with that effort."
The minister further said the work on formulating the development project proposal for another marine drive from Mirsarai to Cox's Bazar is under way.
"Besides, the work of upgrading the Chattogram-Cox's Bazar road into four lanes with the assistance of the Japan International Cooperation Agency (Jica) is under process. Moreover, the access road will be upgraded to six lanes to facilitate the transportation of goods from Chattogram port to different areas of the country," he said.
Tony Ilho Chung, project manager of Korea International Cooperation Agency (Koica), presented a power presentation on the proposed Chattogram Metro Rail project and the plan to solve the port city's traffic congestion problems.
Sources said the capacity of the Dhaka Transport Coordination Authority (DTCA), Chattogram Development Authority (CDA), Chattogram City Corporation (CCC) and Chattogram Port Authority (CPA) will be enhanced for better traffic management under the project.
Information and Broadcasting Minister Dr Hasan Mahmud was also present at the inauguration programme at the Hotel Radisson Blu, Chattogram.
He said, "I will request the project implementing company to include the Bangabandhu Shilpanagar, Chattogram University and the city on the other side of the Karnaphuli River in this plan for survey work. Because this project will make Chattogram city more beautiful in the future."
Road Transport and Highways Division Secretary ABM Amin Ullah Nuri, Chattogram City Mayor M Rezaul Karim Chowdhury, CDA Chairman Zahirul Alam, and Korean Ambassador to Bangladesh Lee Jang Keun were also present at the event among many others.
Feasibility study for Ctg metro rail and transport master plan begins
The feasibility study will run from January 2023 to June 2025 at a cost of Tk70.63 crore
Once constructed, the country's first-ever underground metro rail is expected to shorten the travel time between Kamalapur and the Dhaka airport by 85%, a development that will offer a big relief to commuters.
According to the project documents, the travel time will drop to 24.3 minutes from an average of 139 minutes by using existing road facilities.
The metro rail, known as MRT Line 1, will help save 70% of travel time on the Purbachal to Natun Bazar route and 82% on the Purbachal to Kamalapur route.
"The minimum depth of the underground rail tracks will be 30 metres which will go up to 70 metres underground in some points, covering a part of the city from the airport to Kamalapur," said MAN Siddique, managing director of the Dhaka Mass Transit Company Limited (DMTCL), at a press briefing on Tuesday, ahead of the inauguration of the construction of MRT Line 1.
He said the metro rail will not require the relocation of any utility lines, as there are none below 10 metres in the capital. The construction will progress rapidly, and the commercial operation of the line will begin by 2026, as per the previous plan.
Prime Minister Sheikh Hasina is officially going to inaugurate the Tk52,561 crore project on Thursday, allowing the country to enter the era of underground metro rail.
Siddique said that the prime minister will unveil the foundation plaque beside the Pitalganj depot area at 11am in the presence of around 1 lakh people. Then, she will attend a grand ceremony to be held beside the local Brahmankhali High School field in the presence of around 10 lakh people.
Officials said that the Ecnec approved the MRT Line 1 project in October 2019 with a deadline to conclude the work by 2026. The Japan International Cooperation Agency (Jica) will provide a soft loan of Tk39,450 crore, which is about 75% of the entire project cost.
The project, approved for a period of seven years and three months, is taking about three and a half years to start. In this situation, when asked how the work will be completed on time, Siddique said, "It has already taken a lot of time to prepare the basic design and detailed design. However, contracts for several packages of the main line construction have been finalised. After awarding all these contracts, work will be done together in different locations, which will take less time."
He also said that underground excavation will be done with three tunnel boring machines. Usually, this will be done at a depth of 30 metres. However, due to the narrowness of roads in several places, including Rajarbagh, another tunnel will be laid under one tunnel. In that case, the depth of the lower tunnel will be 70 metres.
The managing director also stated that no public suffering would occur during the construction of this line.
The 31.241km rail line will have 19 stations, and 12 of them will be underground.
He said that the stations would be developed following the open-cut method. Half of the road to occupy would be cut, and it would be covered with some metal sheets. Other parts of the road will be cut, opening the portion of road that had been cut previously.
MAN Siddique said that around six months will be required for constructing stations, and it will cause public suffering at a minimum level.
The project will be implemented through 12 packages, with package 1, "improving soil and developing land of 35.90 hectares" at the depot area, to be inaugurated on Thursday.
The package, worth Tk607.65 crore, was awarded to a joint venture of Japan's Tokyu Construction and local Max Infrastructure.
Officials said that around 25 trains will be operated on the line, and each of them will have eight coaches. Each hour, a total of 27,770 passengers will ride the proposed line's metro system, with daily ridership reaching 18,770,000 by 2035.
3.35 lakh passengers rode on MRT Line 6
The DMTCL earned a revenue of Tk2.46 crore from 3.35 lakh passengers till 30 January since the service was opened to the public in a limited capacity on 29 December last year, said MAN Siddique responding to a question.
"It should be kept in mind before talking about the revenue of metro rail that the service is currently running on a limited scale. A full-day service with stoppage at all stations will increase the number of riders and revenue," he added.
Underground metro to cut airport-Kamalapur travel time to 25 minutes
Once constructed, the country's first-ever underground metro rail is expected to shorten the travel time between Kamalapur and the Dhaka airport by 85%, a development that will offer a big relief to commuters. According to the project documents, the travel time will drop to 24.3 minutes from an...
Prime Minister Sheikh Hasina today inaugurated 26 development projects including seven of the Rajshahi City Corporation (RCC), worth around TK 1,316.97 crore, during her daylong visit.
She also laid foundation stones of six other projects with an estimated cost of TK 376.28 crore.
The prime minister opened and laid foundation stones of those projects joining a mammoth public gathering organised by Rajshahi city and district units of Bangladesh Awami League (AL) at historic Madrasha ground.
Official sources said the implemented projects include a 58-feet Mural of Father of the Nation Bangabandhu Sheikh Mujibur Rahman - built by the RCC at the city's Rajshahi C&B Crossing at a cost of around TK 5.03 crore.
The RCC has also implemented other projects including Sheikh Russel Shishu Park, Flyover on Mohanpur Railway Crossing, four-lane road and road divider with a separate lane for slow moving vehicles from Vadra Rail Crossing to Nawdapara bus terminal, four-lane road and road divider including a separate lane for slow-moving vehicles from Bilsimla railway crossing to City Hat and road widening, development from Kalpana Cinema Hall to Talaimary crossing and carpeting road, drain and footpath construction from Rentur Kharir Arat to Dhalur More via Hi-tech Park and carpeting road from Court to Shahartali Club.
Aimed at opening up a new horizon in recreation, particularly for the children, the Sheikh Russel Shishu Park on 2.14 acre in Chhotobangram area with an estimated cost of TK 4.43 crore is nearing completion.
The Roads and Highway Department has constructed a highway from Puthiya to Bagmara at a cost of TK 116.83 crore.
Rajshahi Krishi Unnayan Bank (RAKUB) has implemented upward extension works from the sixth floor to tenth floor of its head office at a cost of TK 10.21 crore.
Rajshahi Metropolitan Police (RMP) has built its headquarters building at a cost of TK 20.08 crore.
Rajshahi National Heart Foundation Hospital has been established in Laxmipur area at a cost of TK 14.46 crore.
A Technical Training Centre has been built at Mohanpur Upazila at a cost of TK 22.18 crore.
Rajshahi Shishu Hospital has also been established at a cost of around TK 22.90 crore.
Rajshahi Medical College has constructed its administrative building at a cost of around TK 15 crore.
A multi-storey Social Service Complex has been built in Rajshahi involving around TK 12.78 crore.
A two-storey female hostel building has been constructed on a six-storey foundation at Rajshahi Government Women's College with TK 5.58 crore.
A five-storey academic building of Technical School and College has been built at Charghat costing around TK 17.20 crore.
A multipurpose building has been constructed at Rajshahi Medical College and Hospital at a cost of around TK 8.96 crore. The Civil Surgeon Office has also been established at a cost of TK 4.27 crore.
Bangladesh Water Development Board has been implementing two projects to protect the left banks of the Padma River from erosion in Charghat and Bagha Upazilas involving around TK 694.34 crore.
The Local Government Engineering Department (LGED) has been constructing two roads under its Rural Connectivity Improvement Project involving around TK 43.96 crore.
A multipurpose auditorium has been constructed at Rajshahi PTI at a cost of TK 8.92 crore.
The Upazila Muktijoddha Complex Building has been built in Rajshahi city at a cost of TK 2.81 crore.
On the other hand, the foundation stone-laying projects are - TK 24 crore Information Complex, TK 8.35 crore Regional PSC Office Building, TK 62 crore Shaheed Janani Zahanara Imam Girls High School, TK 53 crore Shaheed AHM Kamaruzzaman Boys High School, TK 162 crore BKSP Regional Training Centre and TK 66 crore Rajshahi WASA Building.
PM opens 26 development schemes in Rajshahi
She also laid foundation stones of six other projects with an estimated cost of TK 376.28 crore
Highlights-
- IMF approved Bangladesh's request for $3.3 billion under ECF and EFF arrangements, with immediate disbursement of $476 million.
- Bangladesh is the first Asian country to access the newly created Resilience and Sustainability Facility (RSF).
- IMF approved $1.4 billion for Bangladesh under RSF.
- The 42-month programme aims to preserve macroeconomic stability, protect vulnerable populations and promote inclusive and green growth.
- Reforms will focus on fiscal space, financial sector, policy frameworks, and building climate resilience.
- Fiscal reforms to strengthen the management of public finance, investment, and debt will improve spending efficiency, governance, and transparency.
The embattled foreign reserves of Bangladesh is finally set for some respite after the International Monetary Fund (IMF) late on Monday approved a loan of $4.7 billion for the country.
Calling for ambitious reforms to achieve more resilient, inclusive, and sustainable growth, the money-lender hoped that those would focus on creating fiscal space to enable greater social and developmental spending; strengthen the financial sector; modernise policy frameworks; and build climate resilience.
The loans are to be given in tranches over a "42-month programme to help preserve macroeconomic stability, protect the vulnerable, and foster inclusive and green growth," a press release said.
Bangladesh will get about $3.3 billion under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) and about $1.4 billion under the Resilience and Sustainability Facility (RSF), an IMF press release on early Tuesday said.
Besides, there will be an immediate disbursement of about $476 million as the first of the seven instalments over 42 months.
The remaining amount will be in six equal instalments of $704 million each.
Confirming the matter to The Business Standard, Bangladesh's Finance Minister AHM Mustafa Kamal said, "We are certainly grateful to the IMF for this loan. Special thanks and appreciation to the team that visited Bangladesh on this loan, including IMF Deputy Managing Director [DMD] Antoinette Monceau Sayeh and Head of Mission Rahul Anand.
The finance minister further said, "Many doubted that the IMF might not give us this loan. They thought the fundamental areas of our macroeconomy were weak, so the IMF would refrain from lending. This loan approval also proves that the fundamental areas of our macroeconomy are standing on a solid foundation and are better than many other countries."
IMF DMD Antoinette Monceau Sayeh said, "While confronting challenges resulting from the global headwinds, the authorities [Bangladesh] need to accelerate their ambitious reform agenda to achieve a more resilient, inclusive, and sustainable growth. In this regard, substantial investment in human capital and infrastructure will be needed to achieve Bangladesh's aspiration to reach upper-middle income status by 2031 and meet the Sustainable Development Goals [SDGs]."
Opening the floodgate
The sum of the loan may seem paltry at first glance, but according to experts, there's more to it than that which meets the eye.
In the last fiscal year, the Bangladesh Bank alone supplied more than $4.5 billion to the market to prop up the exchange rate. At the same time, import bills were averaging around $6 billion a month.
On paper, the $4.7 billion could realistically meet import bills for around 15 days only.
But the fresh injection is set to boost reserves, which fell to $32.29 billion on 26 January due to a high import payment obligation against a low dollar supply.
In August 2021, the reserves stood at a record $48.6 bn.
The loan will also bring in much-needed dollars, alleviating the currency crunch which has led to a halt in opening Letters of Credit (LCs).
Another reason, identified as a key, behind the loan is it will mean IMF's seal of approval going forward.
For creditors, an IMF loan would be a sign of a country's credit worthiness. In a period of collapsing economies, this worthiness could be the difference between bankruptcy and survival.
This fact has also been emphasised by the finance minister.
"We are using the IMF. If the IMF, after duly completing the audit of the books and accounts of the country, says Bangladesh is doing fine, nobody else will say no to us," AHM Mustafa Kamal said in a briefing soon after meeting a visiting IMF mission in November.
The IMF's greenlight can help Bangladesh secure more than $1 billion in loans from other development partners as well.
At the same time, there remains a lot of work to be done.
An era of reforms
According to IMF DMD Antoinette Monceau Sayeh, the ECF/EFF arrangement will protect macroeconomic stability and rebuild buffers while helping to advance the authorities' reform agenda.
According to Sayeh, the implementation of the domestic revenue mobilisation strategy that relies on both tax policy and revenue administration reforms will allow increasing social, development and climate spending sustainably while fiscal reforms to strengthen the management of public finance, investment, and debt will improve spending efficiency, governance, and transparency.
In an interview with a national daily, Sayeh had brought attention to revenue mobilisation and the financial sector, specifically Bangladesh's tax-to-GDP ratio -- at around 9 percent of GDP -- making it one of the lowest in the world.
"We think it can be considerably increased by looking at tax exemptions," she had said, calling for modernisation of the tax system and improvements in revenue collection.
Reiterating the call yesterday, Sayeh said, "Reducing financial sector vulnerabilities, strengthening oversight, enhancing governance and the regulatory framework, and developing capital markets will help mobilise financing to support growth objectives."
In regards to the country's robust economic recovery, the DMD advised structural reforms to create a conducive environment to expand trade and foreign direct investment, deepening the financial sector, developing human capital, and improving governance to enhance the business climate are needed to lift growth potential.
Mentioning Covid-19 pandemic and subsequent Russia-Ukraine war among the multiple shocks that have interrupted the economic performance making macroeconomic management challenging in the country, Sayeh said, "The authorities recognise these challenges and also the need to tackle climate change issues, which expose the economy to large risks that could threaten macroeconomic stability."
With the approval of a $1.4 billion loan under the Resilience and Sustainability Facility (RSF), Bangladesh became the first country in Asia to receive a loan from the fund created for low and middle-income countries that are at risk due to climate change.
IMF said, "The authorities [Bangladesh] recognise that in addition to tackling these immediate challenges, long-standing structural issues and vulnerabilities related to climate change will also need to be addressed to accelerate growth, attract private investment, enhance productivity, and build climate resilience."
"The concurrent RSF arrangement will supplement the resources made available under the ECF/EFF to expand the fiscal space to finance climate investment priorities identified in the authorities' plans, help catalyse additional financing, and build resilience against long-term climate risks," it added.
Earlier, the first country in the world to receive this IMF loan was Barbados, followed by Costa Rica and Rwanda, after the IMF executive board approved the fund on 13 April 2022 and it became effective on 1 May 2022.
According to finance ministry officials, the Bangladesh government has pledged to reduce corruption in the country as a condition for the loan amid the forex crunch. The ministry has made the commitment in the Memorandum of Economic and Financial Policy signed with the Wasington-based lender.
On Monday, however, Bangladesh ranked as the 12th most corrupt country among the 180 countries scored in the Global Corruption Perception Index 2022 of Transparency International.
Declining one point from the previous year 2021 Bangladesh's score is 25 out of 100 this year, it meant corruption increased during the last year, disclosed Dr Iftekharruzzaman, executive director of Transparency International Bangladesh.
In addition to reducing corruption, there are about 30 conditions in the loan agreement, including dynamic adjustment of fuel prices, bringing down the default loan of state-owned banks to 10%, setting up asset management companies to recover defaulted loans, and leaving the exchange rate to the market, according to the officials.
However, the set of conditions does not incorporate lifting the interest rate cap on bank lending and deposits, they confirmed.
Finance ministry officials further said gas and electricity prices have already been hiked as part of IMF's conditions for reducing subsidies.
The agency stipulated that monetary policy announcements should be made four times a year, while Bangladesh has agreed to three announcements per year. And as part of that, the Bangladesh Bank announced a monetary policy in January this year.
The central bank has promised a market-based exchange rate in the new monetary policy as per the IMF terms. The size of the Export Development Fund (EDF) has also been decided to be reduced by $1 billion.
Apart from this, the IMF has set conditions for separating the allocation of interest on savings certificates and pensions of government employees from the social safety net allocation, which the Finance Division may implement in the next fiscal year.
Finance ministry officials said that the government had no obligation to fulfill any condition before the first installment.
An IMF team led by Rahul Anand visited Dhaka from 26 October to 9 November 2022, to thrash out the details of the programme.
After that the IMF's vice president, Antoinette Monsio Sayeh, visited Bangladesh from 14-18 January and praised the economic development and social progress she witnessed during her visit, saying it has left an impression on the whole world. Sayeh also congratulated Prime Minister Sheikh Hasina on that.
IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms
Highlights- IMF approved Bangladesh's request for $3.3 billion under ECF and EFF arrangements, with immediate disbursement of $476 million. Bangladesh is the first Asian country to access the newly created Resilience and Sustainability Facility (RSF). IMF approved $1.4 billion for Bangladesh...
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- 63% work of the highway has been completed and the rest mostly depends on availability of bitumen
- The authorities have only been able to secure 3,500 tonnes of bitumen against required 58,000 tonnes
- Contractors fail to import bitumen on time due mainly to the ongoing dollar crisis
- Problems in land acquisition are also blamed for the slow progress of the project funded by the Asian Development Bank
The construction of the 190km four-lane highway from Tangail to Rangpur – a part of the proposed South Asia Subregional Economic Cooperation Road Connectivity – is facing a delay due mainly to a shortage of bitumen, a crucial raw material, causing uncertainty over its completion by the deadline, December 2024.
Despite seven years of construction commencement, the authorities have only been able to secure 3,500 tonnes of bitumen, which is just 6% of the 58,000 tonnes required to complete the project funded by the Asian Development Bank.
A large portion of bitumen for the megaproject is supposed to come from India and a little portion from the Bangladesh Petroleum Corporation. The corporation has already supplied its portion, 3,500 tonnes, but the contractors have failed to import the remaining amount of bitumen amid the ongoing dollar crisis.
Project officials said some 63% of the construction work of the highway has been completed and the rest mostly depends on the availability of bitumen.
"The crisis we are now facing with the megaproject is global. As no one in the country now has good quality bitumen, the construction work has come to a standstill," said Waliur Rahman, director of the South Asia Subregional Economic Cooperation Road Connectivity project, under which the 190km highway is being constructed.
"If the bitumen is not available soon, the contractors will not be able to complete the construction on time."
"We, however, are trying our best to make people of this region enjoy the benefits of the highway before the next national election. Hopefully, we can overcome the challenges," he, also an additional chief engineer of the Roads and Highways Department, told The Business Standard.
Hamidul Haque, additional director of the project, added that there is no alternative to quality bitumen to build good quality roads.
"The use of poor quality bitumen can even hamper the image of the government," he told TBS and added that they are waiting for imported bitumen.
The 190km road is one of the eight new highways of Bangladesh, totalled 600km in length, which will be added to the proposed South Asia Subregional Economic Cooperation Road Connectivity, project Spokesperson and Executive Engineer Joy Prakash Chowdhury noted.
The highway in Northern Bangladesh is expected to help grow industries in the region as well as increase direct trade with India and Nepal.
Divided into nine sections, the construction of the road started in 2016 with an estimated cost of Tk11,899 crore. Later the cost was revised up to Tk16,662 crores.
Two flyovers, 26 bridges, a railway and 11 steel-foot overbridges will also be built under the project.
Apart from the bitumen crisis, problems in land acquisition, particularly in Gaibandha, is also blamed for the slow progress of the project.
Bitumen crisis slows down Tangail-Rangpur highway construction
The 190km road is one of 8 under-construction highways which will be added to the South Asia Subregional Economic Cooperation Road Connectivity
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The installation of a Russian-made turbine in the turbine hall of the first power unit has begun at #RooppurNPP. The lower half of the casing of the first of four low-pressure cylinders has already been assembled.
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Prime Minister Sheikh Hasina on Thursday inaugurated the simultaneous operation of trains on three newly built rail lines to ease the transportation of passengers and cargo on the Rooppur, Shasidal and Joydebpur routes.
She inaugurated the 69.20 km lines virtually from her official residence Ganabhaban.
The 11-km-long rail line for Rooppur has been constructed by the science and technology ministry at the cost of Tk 335 crore.
The construction work started in April 2018. It is a dedicated rail line for the transportation of cargo to the Rooppur Nuclear Power Plant.
As part of the project, a new rail station was constructed near Hardinge Bridge. Besides, a 26.52-km-long dual-gauge rail line was set up, including a siding and loop line from Ishwardi by-pass station to Rooppur plant.
The 11km-long dual-gauge double-line from Tongi to Joydebpur will help railway authorities to increase the number of train trips on the Dhaka-Tongi-Joyebpur route, which links the entire west zone of Bangladesh Railway.
The second line was built at the cost of Tk 1,300 crore under an Indian-funded project.
The sections of 14km-long dual-gauge double-line on the Dhaka-Chattogram route are Kashba to Mandabagh and Shashidal to Rajapur.
The construction was done under a project funded by Asian Development Bank.
www.tbsnews.net
After years of delays over funding issues, construction of the country's largest inland container depot (ICD) at Gazipur's Dhirasram is finally expected to start in 2024 as the government has finalised financiers for the project involving an estimated $774.56 million.
Of the amount, $250 million will come in the form of a loan from the Asian Development Bank (ADB) and the government will invest $416.15 million in the project while a private firm – which is yet to be selected – will inject the remaining $108 million to build the superstructure of the ICD.
Previously, the construction cost of the ICD – to be built on a 160-acre site near Dhirasram railway station in Joydevpur, Gazipur – was estimated at $300 million.
Once completed, the Dhirasram ICD with a 7.2-metre rail link will be able to handle 4,00,000 TEUs (twenty-foot equivalent units) of containers a year, bringing about massive changes in freight train transportation, said railway sources.
Once the Dhirasram ICD is built, the Kamalapur ICD in the heart of Dhaka city will be shifted there.
The ADB confirmed funding for developing a substructure in the ICD project of Bangladesh Railway in October last, in response to a Railway proposal.
Railway officials told The Business Standard that in view of the need for high-quality logistics facilities and efficient operation, the Bangladesh Railway and the ADB have agreed that the project should have a PPP component for ICD operation and maintenance.
Specifically, while the substructure of the ICD will be constructed with a sovereign loan from the ADB, the procurement of equipment and construction of the superstructure will be funded by a PPP concessionaire who will be selected through open competition and in accordance and be responsible for the ICD operation and maintenance. The rail link will be constructed with the government's own funds.
Golam Mustafa, focal point for the Dhirasram ICD project, told TBS that a project to acquire land for the ICD is now in the process of getting approval from the Planning commission.
The construction of the ICD will start under the new development project in 2024 after the loan agreement is signed with the ADB, he said, the BR will float a tender to appoint a private firm in 2026 under the PPP model for the construction of the superstructure of the ICD.
Why is the long delay?
In July 2013, the Cabinet Committee on Economic Affairs approved the project aimed at building a full-fledged ICD under PPP.
Finding no suitable private investor, Bangladesh Railway in August 2020 decided to construct Dhirasram ICD with government funds.
In December 2020, the ADB pledged $200 million in loans for the project and in January 2021, the Prime Minister's Office (PMO) decided to implement the project through ADB funding.
But two months later, the PMO changed its stance and decided to build the ICD in collaboration with Dubai-based logistics supplier DP World under the $1 billion investment proposal the firm had made at the beginning of 2020. The company wanted to invest the money in Bangladesh's container supply chain infrastructure, including ports, rail networks, and inland container terminals.
But, the authorities have had to shed the plan to make DP World a partner in the venture.
"The railway authorities held discussions with DP world for the construction of this ICD under PPP. Initially, the company showed interest in financing the project, but they lost the interest afterward," said Golam Mustafa.
SM Salimullah Bahar, chief planning officer of Bangladesh Railway, said the railway authorities have shed their plan to make DP World a partner in the Dhirasram ICD project as the model of investment for the project has changed.
"In the manner in which the Dhirasram ICD will be constructed now, Bangladesh Railway will construct the main infrastructure, while the ICD will be managed under the PPP arrangement. The private company which will get the partnership will build the superstructure and procure the necessary equipment from their own findings," he said.
Md Abul Bashar, director general of the Public Private Partnership Authority, told TBS that DP World had provided an integrated concept for the development of freight train transportation logistics in the Dhaka-Chittagong rail corridor and the Dhirasram ICD was a part of that.
"DP World basically discussed with the railway authorities over the project as they are entitled to make a final decision on the ICD project. They [BR] have to decide in which model they will implement the Dhirasram ICD project," he said.
Forecasted container throughputs
Chattogram port handles almost all international containers in Bangladesh. The road is the dominant transportation mode for the movement of international containers. On the other hand, container freight trains carry only 3% of the domestic movement of international containers. Container freight trains are in operation only between Kamalapur ICD and Chattogram port, according to Bangladesh Railway.
In 2021, Chattogram port handled around 3.1 million TEUs of containers. Meanwhile, Kamalapur ICD handles around 90,000 TEUs annually, operating at or above its capacity.
Kamalapur ICD is the only ICD with a rail link and is suffering from congestion inside as well as road congestion outside. The Dhirasram ICD project is to strengthen container transport capacity by rail.
An ADB report said Dhirasram ICD being located near Dhaka and along the Dhaka-Chattogram rail corridor has strategic advantages to becoming a logistic hub of regional trade.
"The project will be a fundamental project for the facilitation of Bangladesh-India trade too. At present road transport is the dominant transport mode in bilateral trade, accounting for around 70% share in weight. Rail has a small share but there is no international container freight train operating regularly. Bangladesh and India are promoting international container trains between the two countries."
According to the ADB report, Dhirasram ICD is expected to contribute to the improvement of BR's operation ratio because it will enable BR to operate more container freight trains. At the completion of the Akhaura-Laksam Double Track project scheduled for June 2023, the most important rail corridor between Dhaka and Chattogram will become fully double-tracked, although gauge conversion for broad gauge train operation will not be completed yet.
Container cargo is important to BR's financial performance because it accounts for 33% of BR revenues from freight transportation.
BR moves to boost freight transport
Meanwhile, after years of a passenger-bias approach, Bangladesh Railway now makes fresh moves to improve freight transport to facilitate trades and boost its revenue earning. It has planned a $1.68 billion project to overcome its infrastructural bottlenecks and raise its modal share in container freights on the route, according to officials.
Freight rail has the potential to carry 25% of container traffic countrywide – equivalent to removing 500 container trucks per day from roads, they said, adding that railway's capacity constraints, however, limit the services to only 10% as only two container trains currently operate on Dhaka-Chattogram route – the major trade and transport artery of Bangladesh – every day.
They said the project had been designed after the World Bank showed interest in it, and expected the Washington-based lender would finance $1.09 billion.
With a 2030 deadline, the master plan includes development of the Dhaka-Chattogram rail corridor, remodelling Dhaka's Kamalapur station yard, a transport hub at Dhaka airport rail station and buying 20 cargo locomotives.
SM Salimullah Bahar, chief planning officer of the Bangladesh Railway, said they had prepared the plan focusing freight train frequency on the route.
"This will boost rail revenue, ease pressure on the Dhaka-Chattogram highway, and make cargo transport on the route easier and cheaper," he told The Business Standard.
www.tbsnews.net
She inaugurated the 69.20 km lines virtually from her official residence Ganabhaban.
The 11-km-long rail line for Rooppur has been constructed by the science and technology ministry at the cost of Tk 335 crore.
The construction work started in April 2018. It is a dedicated rail line for the transportation of cargo to the Rooppur Nuclear Power Plant.
As part of the project, a new rail station was constructed near Hardinge Bridge. Besides, a 26.52-km-long dual-gauge rail line was set up, including a siding and loop line from Ishwardi by-pass station to Rooppur plant.
The 11km-long dual-gauge double-line from Tongi to Joydebpur will help railway authorities to increase the number of train trips on the Dhaka-Tongi-Joyebpur route, which links the entire west zone of Bangladesh Railway.
The second line was built at the cost of Tk 1,300 crore under an Indian-funded project.
The sections of 14km-long dual-gauge double-line on the Dhaka-Chattogram route are Kashba to Mandabagh and Shashidal to Rajapur.
The construction was done under a project funded by Asian Development Bank.
PM Hasina unveils operation of 3 newly built rail lines
Prime Minister Sheikh Hasina on Thursday inaugurated the simultaneous operation of trains on three newly built rail lines to ease the transportation of passengers and cargo on the Rooppur, Shasidal and Joydebpur routes. She inaugurated the 69.20 km lines virtually from her official residence...
After years of delays over funding issues, construction of the country's largest inland container depot (ICD) at Gazipur's Dhirasram is finally expected to start in 2024 as the government has finalised financiers for the project involving an estimated $774.56 million.
Of the amount, $250 million will come in the form of a loan from the Asian Development Bank (ADB) and the government will invest $416.15 million in the project while a private firm – which is yet to be selected – will inject the remaining $108 million to build the superstructure of the ICD.
Previously, the construction cost of the ICD – to be built on a 160-acre site near Dhirasram railway station in Joydevpur, Gazipur – was estimated at $300 million.
Once completed, the Dhirasram ICD with a 7.2-metre rail link will be able to handle 4,00,000 TEUs (twenty-foot equivalent units) of containers a year, bringing about massive changes in freight train transportation, said railway sources.
Once the Dhirasram ICD is built, the Kamalapur ICD in the heart of Dhaka city will be shifted there.
The ADB confirmed funding for developing a substructure in the ICD project of Bangladesh Railway in October last, in response to a Railway proposal.
Railway officials told The Business Standard that in view of the need for high-quality logistics facilities and efficient operation, the Bangladesh Railway and the ADB have agreed that the project should have a PPP component for ICD operation and maintenance.
Specifically, while the substructure of the ICD will be constructed with a sovereign loan from the ADB, the procurement of equipment and construction of the superstructure will be funded by a PPP concessionaire who will be selected through open competition and in accordance and be responsible for the ICD operation and maintenance. The rail link will be constructed with the government's own funds.
Golam Mustafa, focal point for the Dhirasram ICD project, told TBS that a project to acquire land for the ICD is now in the process of getting approval from the Planning commission.
The construction of the ICD will start under the new development project in 2024 after the loan agreement is signed with the ADB, he said, the BR will float a tender to appoint a private firm in 2026 under the PPP model for the construction of the superstructure of the ICD.
Why is the long delay?
In July 2013, the Cabinet Committee on Economic Affairs approved the project aimed at building a full-fledged ICD under PPP.
Finding no suitable private investor, Bangladesh Railway in August 2020 decided to construct Dhirasram ICD with government funds.
In December 2020, the ADB pledged $200 million in loans for the project and in January 2021, the Prime Minister's Office (PMO) decided to implement the project through ADB funding.
But two months later, the PMO changed its stance and decided to build the ICD in collaboration with Dubai-based logistics supplier DP World under the $1 billion investment proposal the firm had made at the beginning of 2020. The company wanted to invest the money in Bangladesh's container supply chain infrastructure, including ports, rail networks, and inland container terminals.
But, the authorities have had to shed the plan to make DP World a partner in the venture.
"The railway authorities held discussions with DP world for the construction of this ICD under PPP. Initially, the company showed interest in financing the project, but they lost the interest afterward," said Golam Mustafa.
SM Salimullah Bahar, chief planning officer of Bangladesh Railway, said the railway authorities have shed their plan to make DP World a partner in the Dhirasram ICD project as the model of investment for the project has changed.
"In the manner in which the Dhirasram ICD will be constructed now, Bangladesh Railway will construct the main infrastructure, while the ICD will be managed under the PPP arrangement. The private company which will get the partnership will build the superstructure and procure the necessary equipment from their own findings," he said.
Md Abul Bashar, director general of the Public Private Partnership Authority, told TBS that DP World had provided an integrated concept for the development of freight train transportation logistics in the Dhaka-Chittagong rail corridor and the Dhirasram ICD was a part of that.
"DP World basically discussed with the railway authorities over the project as they are entitled to make a final decision on the ICD project. They [BR] have to decide in which model they will implement the Dhirasram ICD project," he said.
Forecasted container throughputs
Chattogram port handles almost all international containers in Bangladesh. The road is the dominant transportation mode for the movement of international containers. On the other hand, container freight trains carry only 3% of the domestic movement of international containers. Container freight trains are in operation only between Kamalapur ICD and Chattogram port, according to Bangladesh Railway.
In 2021, Chattogram port handled around 3.1 million TEUs of containers. Meanwhile, Kamalapur ICD handles around 90,000 TEUs annually, operating at or above its capacity.
Kamalapur ICD is the only ICD with a rail link and is suffering from congestion inside as well as road congestion outside. The Dhirasram ICD project is to strengthen container transport capacity by rail.
An ADB report said Dhirasram ICD being located near Dhaka and along the Dhaka-Chattogram rail corridor has strategic advantages to becoming a logistic hub of regional trade.
"The project will be a fundamental project for the facilitation of Bangladesh-India trade too. At present road transport is the dominant transport mode in bilateral trade, accounting for around 70% share in weight. Rail has a small share but there is no international container freight train operating regularly. Bangladesh and India are promoting international container trains between the two countries."
According to the ADB report, Dhirasram ICD is expected to contribute to the improvement of BR's operation ratio because it will enable BR to operate more container freight trains. At the completion of the Akhaura-Laksam Double Track project scheduled for June 2023, the most important rail corridor between Dhaka and Chattogram will become fully double-tracked, although gauge conversion for broad gauge train operation will not be completed yet.
Container cargo is important to BR's financial performance because it accounts for 33% of BR revenues from freight transportation.
BR moves to boost freight transport
Meanwhile, after years of a passenger-bias approach, Bangladesh Railway now makes fresh moves to improve freight transport to facilitate trades and boost its revenue earning. It has planned a $1.68 billion project to overcome its infrastructural bottlenecks and raise its modal share in container freights on the route, according to officials.
Freight rail has the potential to carry 25% of container traffic countrywide – equivalent to removing 500 container trucks per day from roads, they said, adding that railway's capacity constraints, however, limit the services to only 10% as only two container trains currently operate on Dhaka-Chattogram route – the major trade and transport artery of Bangladesh – every day.
They said the project had been designed after the World Bank showed interest in it, and expected the Washington-based lender would finance $1.09 billion.
With a 2030 deadline, the master plan includes development of the Dhaka-Chattogram rail corridor, remodelling Dhaka's Kamalapur station yard, a transport hub at Dhaka airport rail station and buying 20 cargo locomotives.
SM Salimullah Bahar, chief planning officer of the Bangladesh Railway, said they had prepared the plan focusing freight train frequency on the route.
"This will boost rail revenue, ease pressure on the Dhaka-Chattogram highway, and make cargo transport on the route easier and cheaper," he told The Business Standard.
Dhirasram ICD financiers finalised, construction to begin in 2024
After years of delays over funding issues, construction of the country's largest inland container depot (ICD) at Gazipur's Dhirasram is finally expected to start in 2024 as the government has finalised financiers for the project involving an estimated $774.56 million. Of the amount, $250 million...
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The Bangladesh Railway (BR) signed a Tk193.64 crore contract with a consortium for their consultancy services for 11 projects under the Railway Connectivity Improvement Preparatory Facility (RCIPF) on Tuesday.
The joint venture of three companies – Oriental Consultants Global of Japan, EGIS Rail of France and HSS Integrated of Malaysia – in association with Bangladesh's KS Consultants, SODEV Consult International, STRATEGI Consulting, DevConsultants and SARM Associates will carry out the feasibility studies and prepare detailed designs and development project proposals for the projects in 30 months.
The 11 projects include a chord line from Dhaka to Cumilla via Narayanganj to reduce the distance between Dhaka and Chattogram by 90 kilometres and travel time by one-and-a-half hours, say Bangladesh Railway officials.
Apart from the chord line, the consulting firms will carry out the feasibility study and detailed design for a new bridge parallel to the existing century-old Hardinge Bridge over Padma river that has already recorded 110 years of use and counting.
The consortium will also prepare a study and detailed design for the construction of a broad gauge line parallel to the existing Abdulpur-Rajshahi section and Abdulpur-Santahar-Parbatipur section including Abdulpur bypass; construction of a new broad gauge line from Santahar to Amnur in Chapainawabganj; conversion of existing metre gauge section from Santahar to Lalmonirhat via Bogura, Kaunia into dual gauge or broad gauge line and building dual gauge or broad gauge line parallel to the existing line; conversion of existing metre gauge line into dual gauge or broad gauge line from Bhairab Bazar to Mymensingh and construction of dual gauge or broad gauge line parallel to the existing metre gauge line; construction of a new broad gauge line parallel to existing Jashore-Benapole line; and conversion of existing metre gauge line into dual gauge line from Bangabandhu Bridge East to Dewanganj Bazar via Tarakandi, Jamalpur, including the construction of Tongi bypass.
The firm will also assess the future demand for rolling stocks, prepare core and non-core business plans for BR and carry out a need analysis for establishing a signalling training centre for BR, among others.
In June 2020, the government approved Tk235.37 crore Technical Assistance Project, with the Asian Development Bank providing Tk167.14 as a loan for feasibility study and detailed design of the 11 projects.
In the contract signing ceremony, Railways Minister Nurul Islam Sujan asked the firms to complete tasks within the stipulated time.
He also urged the BR official to avail of clauses of penalty, if the companies fail to complete tasks in time.
"The railway sector is an integral part of the country's development. So the government has taken a master-plan to develop the railway, and as part of that plan, it has taken a number of projects to improve line capacity, safety of operation, improve maintenance and save operating cost to meet the growing demand. And this contract signing is the initial work of the projects," said Nurul Islam Sujan.
The minister also expressed optimism that the Bangladesh Railway will make a consultant team of its own with the expert railway officials.
www.tbsnews.net
Teesta Solar Limited, a subsidiary of the Beximco Group, has commenced power generation and transmission to the national grid on a trial basis.
Once fully operational, the 200 MW plant in Gaibandha will be the country's largest solar-based power station, bigger than the 134.3 MW plant of Energon Renewables Ltd, a concern of the industrial conglomerate Orion Group, in Mongla.
The Teesta Solar plant has been generating power on a trial basis since 6 December last year and continues to supply power to the national grid, sources told The Business Standard (TBS).
However, the project has yet to receive approval for commercial operation.
When asked, Nirod Chandra Mondal, joint secretary (Renewable Energy) at Power Division, told TBS, "We have learnt that the plant is supplying electricity to the grid for over a month now but not sure of whether it was given approval for commercial operation."
The project is a crucial solution to the power crisis in the northern region, which is facing challenges due to its dependence on imported primary fuels and the pressure it places on the country's forex reserves.
However, the cost of electricity per unit at this plant, which is $0.15 per kilowatt hour, is a matter of concern as it is expected to increase the revenue deficit of the Bangladesh Power Development Board (BPDB) due to its high purchase cost.
The BPDB has signed a 20-year power purchase agreement (PPA) with Tessta Solar Limited to buy electricity from this plant.
Despite several attempts, The Business Standard could not get any comment from either Beximco or BPDB on this matter.
Beximco raised around $400 million through green Sukuk bonds, sharia-compliant bonds, to build the project on 600 acres of land at Latshal in Sundarganj upazila of Gaibandha district. A portion of these funds also went towards the group's 30-megawatt solar power plant in the northern district of Panchagarh.
The Tessta Solar Limited project faced delays due to the Covid-19 pandemic and the global economic crisis following the Russia-Ukraine war. Shipping of construction materials and equipment from abroad was interrupted.
Longi Solar supplied HI-MO 5 series modules – an overall superior solar module when considering durability attributes – to the plant, while a consortium of Rays Power Infra and Zetwerk Manufacturing Businesses provided engineering, procurement, construction, commissioning, operation and maintenance services.
As of now, Bangladesh's total power generation capacity stands at 26,700 MW – 3.5% or 957.67 megawatts from renewable energy sources.
www.tbsnews.net
The joint venture of three companies – Oriental Consultants Global of Japan, EGIS Rail of France and HSS Integrated of Malaysia – in association with Bangladesh's KS Consultants, SODEV Consult International, STRATEGI Consulting, DevConsultants and SARM Associates will carry out the feasibility studies and prepare detailed designs and development project proposals for the projects in 30 months.
The 11 projects include a chord line from Dhaka to Cumilla via Narayanganj to reduce the distance between Dhaka and Chattogram by 90 kilometres and travel time by one-and-a-half hours, say Bangladesh Railway officials.
Apart from the chord line, the consulting firms will carry out the feasibility study and detailed design for a new bridge parallel to the existing century-old Hardinge Bridge over Padma river that has already recorded 110 years of use and counting.
The consortium will also prepare a study and detailed design for the construction of a broad gauge line parallel to the existing Abdulpur-Rajshahi section and Abdulpur-Santahar-Parbatipur section including Abdulpur bypass; construction of a new broad gauge line from Santahar to Amnur in Chapainawabganj; conversion of existing metre gauge section from Santahar to Lalmonirhat via Bogura, Kaunia into dual gauge or broad gauge line and building dual gauge or broad gauge line parallel to the existing line; conversion of existing metre gauge line into dual gauge or broad gauge line from Bhairab Bazar to Mymensingh and construction of dual gauge or broad gauge line parallel to the existing metre gauge line; construction of a new broad gauge line parallel to existing Jashore-Benapole line; and conversion of existing metre gauge line into dual gauge line from Bangabandhu Bridge East to Dewanganj Bazar via Tarakandi, Jamalpur, including the construction of Tongi bypass.
The firm will also assess the future demand for rolling stocks, prepare core and non-core business plans for BR and carry out a need analysis for establishing a signalling training centre for BR, among others.
In June 2020, the government approved Tk235.37 crore Technical Assistance Project, with the Asian Development Bank providing Tk167.14 as a loan for feasibility study and detailed design of the 11 projects.
In the contract signing ceremony, Railways Minister Nurul Islam Sujan asked the firms to complete tasks within the stipulated time.
He also urged the BR official to avail of clauses of penalty, if the companies fail to complete tasks in time.
"The railway sector is an integral part of the country's development. So the government has taken a master-plan to develop the railway, and as part of that plan, it has taken a number of projects to improve line capacity, safety of operation, improve maintenance and save operating cost to meet the growing demand. And this contract signing is the initial work of the projects," said Nurul Islam Sujan.
The minister also expressed optimism that the Bangladesh Railway will make a consultant team of its own with the expert railway officials.
Railway inks Tk193cr feasibility study contract for 11 projects
The Bangladesh Railway (BR) signed a Tk193.64 crore contract with a consortium for their consultancy services for 11 projects under the Railway Connectivity Improvement Preparatory Facility (RCIPF) on Tuesday. The joint venture of three companies – Oriental Consultants Global of Japan, EGIS Rail...
- Currently, the 134.3 MW plant of Energon Renewables Ltd, a concern of Orion Group, is the largest solar plant in operation
- The 200 MW Teesta plant is a crucial solution to the power crisis in the northern region, largely depending on imported primary fuels
- As of now, Bangladesh's total power generation capacity stands at 26,700 MW, including 957.67 MW from renewable sources
Teesta Solar Limited, a subsidiary of the Beximco Group, has commenced power generation and transmission to the national grid on a trial basis.
Once fully operational, the 200 MW plant in Gaibandha will be the country's largest solar-based power station, bigger than the 134.3 MW plant of Energon Renewables Ltd, a concern of the industrial conglomerate Orion Group, in Mongla.
The Teesta Solar plant has been generating power on a trial basis since 6 December last year and continues to supply power to the national grid, sources told The Business Standard (TBS).
However, the project has yet to receive approval for commercial operation.
When asked, Nirod Chandra Mondal, joint secretary (Renewable Energy) at Power Division, told TBS, "We have learnt that the plant is supplying electricity to the grid for over a month now but not sure of whether it was given approval for commercial operation."
The project is a crucial solution to the power crisis in the northern region, which is facing challenges due to its dependence on imported primary fuels and the pressure it places on the country's forex reserves.
However, the cost of electricity per unit at this plant, which is $0.15 per kilowatt hour, is a matter of concern as it is expected to increase the revenue deficit of the Bangladesh Power Development Board (BPDB) due to its high purchase cost.
The BPDB has signed a 20-year power purchase agreement (PPA) with Tessta Solar Limited to buy electricity from this plant.
Despite several attempts, The Business Standard could not get any comment from either Beximco or BPDB on this matter.
Beximco raised around $400 million through green Sukuk bonds, sharia-compliant bonds, to build the project on 600 acres of land at Latshal in Sundarganj upazila of Gaibandha district. A portion of these funds also went towards the group's 30-megawatt solar power plant in the northern district of Panchagarh.
The Tessta Solar Limited project faced delays due to the Covid-19 pandemic and the global economic crisis following the Russia-Ukraine war. Shipping of construction materials and equipment from abroad was interrupted.
Longi Solar supplied HI-MO 5 series modules – an overall superior solar module when considering durability attributes – to the plant, while a consortium of Rays Power Infra and Zetwerk Manufacturing Businesses provided engineering, procurement, construction, commissioning, operation and maintenance services.
As of now, Bangladesh's total power generation capacity stands at 26,700 MW – 3.5% or 957.67 megawatts from renewable energy sources.
Country's largest solar power plant begins trial operation
The project is a crucial solution to the power crisis in the northern region, which is facing challenges due to its dependence on imported primary fuels and the pressure it places on the country's forex reserves
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Prime Minister Sheikh Hasina has opened the 2.34km Kalshi flyover to the traffic in the capital's Mirpur. She also inaugurated 3.70km road from the ECB square to Kalshi which was developed and widened to six lanes from four lanes.
The prime minister opened the flyover and the road after unveiling a plaque at a civic rally that turned into a huge public gathering held at Kalshi Balur Math.
The premier arrived at the event venue around 10:40am and inaugurated the much-awaited development project around 10:50am on Sunday (19 February).
She was accompanied by LGRD and Cooperatives Minister Md Tazul Islam, Dhaka north city Mayor Md Atiqul Islam, Chief of Army Staff General SM Shafiuddin Ahmed, Dhaka-16 lawmaker Md Elias Uddin Mollah, Local Government Division Secretary Muhammad Ibrahim.
The flyover is expected to further improve connectivity between Mirpur, DOHS, Pallabi, Kalshi, Mahakhali, Banani, Uttara and the Airport. It will take 15 minutes to reach Mirpur from the Airport.
Under the Road Widening and Development from ECB Square to Mirpur and Construction of Flyover on Kalshi Circle Project, the 2,335m long flyover has been built and a 3.70km stretch of road from the ECB square to Kalshi has been widened.
On 9 January 2018, the project got Ecnec's approval.
DNCC and Bangladesh Army (24 Engineer Construction Brigade) implemented the project at a cost of around Tk1,012 crore.
According to the project details, the flyover looks like the English alphabet "Y."
The previously four-lane roads have been widened to six lanes in view to ease passenger commute.
The main four-lane flyover runs from ECB square towards Kalshi and Mirpur DOHS, while a two-lane ramp descends from Kalshi intersection to Kalshi Road.
According to Dhaka North City Corporation (DNCC) public relations office, the project also includes extension of a PC girder bridge, construction of two-foot over-bridges, a public toilet, two police boxes, a 7.40km RCC drain and saucer drain, a 1,755m RCC pipe drain, retaining wall, 3,383m communication duct, 80,0000 linear meter sand compaction pile, separate cycle lane, and six bus bays.
The project is expected to ease travel among the areas of Mirpur, DOHS, Pallabi, Kalshi, Mahakhali, Banani, Uttara and Airport.
PM Hasina opens Kalshi flyover, 6-lane road to traffic
Prime Minister Sheikh Hasina has opened the 2.34km Kalshi flyover to the traffic in the capital's Mirpur. She also inaugurated 3.70km road from the ECB square to Kalshi which was developed and widened to six lanes from four lanes. The prime minister opened the flyover and the road after...
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Information technology exports from Bangladesh shot up 36 per cent in the first half of the current financial year, beating expectations of industry players as the local IT industry showed resilience against the global economic turmoil.
IT companies brought home $282.77 million in the July-December period of 2022-23, up from $208.09 million in the identical half of 2021-22, data from the Export Promotion Bureau (EPB) showed.
The higher earnings were driven by the shipment of computer data-processing and hosting services, which cover most business process outsourcing and IT-enabled services.
The shipment of computer data processing and hosting services rose to $233.55 million in the six months to December from $154.82 million a year earlier.
Local entrepreneurs are receiving a good number of outsourcing orders for back-office operations, image processing, graphic design, animation, data entry, accounting and legal process outsourcing, and data analytics, according to industry people.
IT export growth has been phenomenal since the middle of last year after businesses around the world reopened following the improvement in the Covid-19 situation.
In the last financial year, IT exports from Bangladesh crossed a major mark after local firms and freelancers earned more than half a billion US dollars for the first time. Local IT companies saw their export earnings shoot up 95 per cent year-on-year to $592.06 million in FY22.
The higher earnings came although industry people earlier expressed concerns whether the momentum would be maintained in the current financial year owing to the global economic crisis induced by the Russia-Ukraine war.
According to the EPB, IT consultancy services raked in $19.76 million in July-December of FY23, up from $18.62 million a year ago. The shipment of software dropped about 8 per cent to $27.39 million.
However, some software firms say their business expanded during the period.
For example, Brain Station 23 said it posted 44 per cent year-on-year growth in the first half of the current fiscal year.
"Now we are facing some slowdown, which is a worldwide trend as business growth has slowed. But it is not alarming," said Raisul Kabir, chief executive officer of the software firm.
Brain Station 23 mainly exports custom-made software to European clients. It hired more than 200 people in the last one year to take its total employees to 670.
Export receipts for the installation, maintenance and repair of computers and peripheral equipment decreased around 58 per cent to $2.07 million in July-December of FY23.
M Manjur Mahmud, president of DataSoft Systems, however, thinks the actual export earnings from the IT sector were much higher than the official figures.
"Many of the earnings are small in amount and they don't get included in the official calculation."
The IT firm has already exported software products to 31 countries and has offices in four countries. It employs 450 people.
The Bangladesh Association of Software and Information Services (BASIS) estimates that the annual IT export stands at $1.5 billion.
Besides, many firms and freelancers don't bring in their full export proceeds or fetch their export earnings through unofficial channels to avail a higher rate of the dollar against the taka in the informal market, industry people allege.
Despite the phenomenal growth, Bangladesh's IT export has remained at a far lower level than those of its peers.
India's technology industry generated export earnings of $227 billion in FY22, according to the National Association of Software and Service Companies of the neighbouring country.
Pakistan's information and communication technology exports, including telecommunication, computer and information services, were $2.62 billion in FY22.
AKM Fahim Mashroor, CEO of Bdjobs and AjkerDeal, said the higher earnings in the first half were a good sign amid the global economic crisis.
"But the overall IT export is very low."
He said the government is spending heavily to develop the ICT skill of people, especially freelancers. But it has failed to boost IT exports.
"This is because most of the money is being spent on developing low-skill freelancers, who can't generate big revenue."
The IT entrepreneur recommended the government incentivise IT companies to hire fresh graduates.
"We should follow the growth story of the garment industry. In the RMG sector, the 100 top companies account for 80 per cent of exports."
"We need big companies like India's Infosys or Wipro, the companies that employ tens of thousands of people each and earn billions of dollars," he added.
Bangladesh's IT export surges despite global economic crisis
The higher earnings were driven by the shipment of computer data-processing and hosting services, which cover most business process outsourcing and IT-enabled services
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Preparing for first fuel for Ruppur NPP: Rosatom is currently inspecting the Hazrat Shahjalal International Airport in Dhaka for arrival of the first plane with nuclear fuel for the startup of Ruppur unit 1. The first plane with the nuclear fuel will land in Dhaka in October 2023, loaded onto a truck and delivered to the site by road. Unit 1 is now around 75 to 80% complete and set for trial operation in late 2023 and full operation in 2024. In unit 2, the main circulation piping is already under construction.
Because of sanctions against russian ships, which is supported by Bangladesh, many ships with components could not enter the ports of this country. Because of that problem, Rosatom has now choosen alternate transportation routes to the site.
Because of sanctions against russian ships, which is supported by Bangladesh, many ships with components could not enter the ports of this country. Because of that problem, Rosatom has now choosen alternate transportation routes to the site.
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Prime Minister and Awami League (AL) President Sheikh Hasina today inaugurated 43 development projects and laid five others foundation stones at a cost of Taka 329 crore to ensure overall development of her home district Gopalganj.
The 43 development projects include two rural piped water supply schemes - one at Dumuria union in Tungipara upazila and another at Ramshil union in Kotalipara upazila, 24 meter RCC girder bridge on Gopalpur UP Office-Kajulia UP via Boraihati Polshair Bazar Road and 99 meter girder bridge on Kushli GC-Dharabashail GC via Mitradanga, Sonakhali Road in Tungipara upazila, four-storey Shuagram Bohumukhi High School at Kotalipara, three-storey girls hostel (100 beds) at Sheikh Hasina Adarsha Degree College at Kotalipara, four-storey academic building of Kotalipara SN Institution, Kotalipara Poura Kitchen Market and Sheikh Russel Library at Bhangarhat Talimpur Telihati High School at Kotalipara upazila built by Kotalipara Upazila Parishad, 'Mukta Manch' in the ancestral home of poet Sukanta Bhattacharya at Kotalipara, flood shelter center at Uttar Kotalipara Rammohon High School at Kotalipara, one-storey commercial building having 10-storey foundation at Boro Bazar in Gopalganj Sadar.
The prime minister laid foundation stones of Gopalganj Zilla Tathya Complex Bhaban and Kotalipara Model Mosque and Islamic Cultural Centre under Public Works Department, Radhaganj Union Bhangarhat Bazar Development and Mural Construction on 1971 Liberation War at Kotalipara Upazila under Local Government Engineering Department and building Father of the Nation Bangabandhu Sheikh Mujibur Rahman's mural at 11 union parishads under Kotalipara Upazila Parishad.
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The 43 development projects include two rural piped water supply schemes - one at Dumuria union in Tungipara upazila and another at Ramshil union in Kotalipara upazila, 24 meter RCC girder bridge on Gopalpur UP Office-Kajulia UP via Boraihati Polshair Bazar Road and 99 meter girder bridge on Kushli GC-Dharabashail GC via Mitradanga, Sonakhali Road in Tungipara upazila, four-storey Shuagram Bohumukhi High School at Kotalipara, three-storey girls hostel (100 beds) at Sheikh Hasina Adarsha Degree College at Kotalipara, four-storey academic building of Kotalipara SN Institution, Kotalipara Poura Kitchen Market and Sheikh Russel Library at Bhangarhat Talimpur Telihati High School at Kotalipara upazila built by Kotalipara Upazila Parishad, 'Mukta Manch' in the ancestral home of poet Sukanta Bhattacharya at Kotalipara, flood shelter center at Uttar Kotalipara Rammohon High School at Kotalipara, one-storey commercial building having 10-storey foundation at Boro Bazar in Gopalganj Sadar.
The prime minister laid foundation stones of Gopalganj Zilla Tathya Complex Bhaban and Kotalipara Model Mosque and Islamic Cultural Centre under Public Works Department, Radhaganj Union Bhangarhat Bazar Development and Mural Construction on 1971 Liberation War at Kotalipara Upazila under Local Government Engineering Department and building Father of the Nation Bangabandhu Sheikh Mujibur Rahman's mural at 11 union parishads under Kotalipara Upazila Parishad.
PM opens 43 development schemes in Gopalganj
Prime Minister and Awami League (AL) President Sheikh Hasina today inaugurated 43 development projects and laid five others foundation stones at a cost of Taka 329 crore to ensure overall development of her home district Gopalganj. She opened the projects after unveiling a plaque by pressing a...
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Friday marked a history for the newly built Patenga Container Terminal of the Chattogram Port as a 200-metre-long vessel anchored at the terminal for the first time.
The vessel, MV Meghna Victory, was brought to the terminal from the outer anchorage of the Chattogram Port at 3pm on Friday, said port authorities.
The Meghna Victory, with a draught of 13.2 metres, anchored at the outer anchorage of the port and after discharging of goods to reduce the draught to eight metres, was brought to the Patenga Container Terminal, said Meghna Group.
Including the Meghna Victory, State Minister for Shipping Khalid Mahmud Chowdhury is scheduled to inaugurate four new ships of the Meghna Group on Sunday, said port authorities.
Chattogram Port Authority Chairman Rear Admiral M Shahjahan, Shipping Department Director General Commodore Md Nijamul Haque and HSBC Bangladesh Chief Executive Officer Md Mahbub ur Rahman will also be present at the opening ceremony.
Earlier, ships with a draught of 9.5 metres and a length of 190 metres were docked at the Chattogram Port. On 16 January, a ship with 10 metres in draught and 200 metres in length was docked at a jetty of Chattogram Container Terminal of the port for the first time on a trial basis.
Md Abu Taher, chief engineer of Mercantile Shipping, a sister concern of the Meghna Group, said Meghna Victory arrived at Kutubdia at the outer anchorage of the Chattogram Port with 62,500 tonnes of wheat from the Vancouver Port in Canada on 16 February. The remaining 9,000 tonnes of wheat on board will be discharged at the outer anchorage after the inauguration of the four vessels.
Among the four new ships, the Meghna Prestige arrived in Bangladesh on 17 February with coal from Muara Pantai Port in Indonesia. The Meghna Hope will start sailing the sea on 15 March and the Meghna Progress from May.
According to Chattogram Port sources, only rice imported by the government is currently being unloaded at the newly constructed Patenga Container Terminal.
Since no operator has yet been appointed to run the Patenga Container Terminal, the loading and unloading of goods on ships are being conducted under the management of the Chattogram Port.
200m long ship arrives at Patenga Container Terminal for the first time
On 16 January, a ship with 10 metres in draught and 200 metres in length was docked at a jetty of Chattogram Container Terminal of the port for the first time on a trial basis
