Communications minister Obaidul Quader on Sunday said the government was examining offers by foreign countries including China and Malaysia for construction of the long-awaited Padma Multi-purpose Bridge project.
He said the government was yet to select a financer for the project as it decided last January not to take $1.2 billion loan from the World Bank that put one after another conditions to release the fund.
WB had earlier suspended the loan programme because of ‘conspiracy of corruption’ in the $2.9 billion project by former communications minister Syed Abul Hossain and few of the ministry officials.
Quader, however, hoped that the works on the main structure would begin this year — the concluding year of the tenure of the Awami League-led government.
‘All proposals for financing the Padma Bridge project have been sent to the higher level that will take the ultimate decision,’ the communications minister told reporters at his office.
He said China, Malaysia and Korea had already expressed their interest for construction of the much-talked about bridge over the river Padma, also an election pledge of the ruling Awami League.
A proposal summary from Malaysia had been handed over to the government, he said, adding that it was now a matter for the highest level of the government to decide the next course of action.
Kuala Lumpur in its final proposal on March 16 expressed interest to invest $2.3 billion for two components of the project—construction of the main bridge and river training.
They plan to get back the amount in 26 years through collecting tolls. Malaysia will be taking 70 percent of the profit, which is $5.2 billion. Bangladesh will get the remaining 30 percent, which is $2.19 billion.
A Chinese consortium had also proposed financing $1.95 billion on suppliers’ credit. It would not charge any interest but take back the amount in 20 years. Bangladesh would have to manage the rest of the money, according to officials.
China said it would allow Bangladesh to appoint a foreign consultancy firm at its own expense to ensure quality and security matters of the project.
The minister, however, said the government is making progress with its plan to build the bridge on its own financing.
‘Works for a link road in Janjira point would begin in May with own funds. After that, tenders would be floated to begin construction for the Mawa point link road,’ he mentioned.
Meanwhile, Bangladesh Bridge Authority is waiting for the government’s green signal to float a fresh international tender for construction of the main part of the Padma Bridge.
BBA officials say they have almost finalised the tender documents after the government last month decided to build the bridge with its own funds. (Source)
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