The Bangladesh Bridge Authority (BBA) has taken a move to construct another long bridge, named Bhola Bridge, along with elevated road for establishing direct link with the southern district under public-private partnership (PPP) initiative.
The bridge project, taken at an estimated cost of Tk 127.12 billion, is set to be placed before the Cabinet Committee on Economic Affairs today (Thursday) for its approval.
Officials concerned said trade and investment scenario in the southern region is expected to change significantly after completion of the project, as people's movement and goods transportation are mostly done there through river route, which usually takes 12 hours.
They also said it will help 80 per cent people's mobility through road after completion.
According to the BBA, under the project, a 4.68-kilometre-long bridge has been planned to be constructed over Kalabador and Tetulia rivers along with a 4.9-km elevated road on Barishal-Bhola highway.
Besides, some 12 km river training work and installation of 30-inch diameter gas pipe-line will also be carried out under it.
The officials said the elevated road has been planned to establish link with Shreepur Char, where establishing a special economic zone (SEZ) has been planned.
The BBA has selected the Bhola Bridge project after conducting feasibility study on four bridges to establish direct link with the country's eastern and southern districts. The study was conducted in 2017-18.
They said the proposed Bhola Bridge was found economically viable, as its net present value was calculated Tk 143.71 billion, benefit cost ratio 3.15, and internal rate of return 22.54 per cent.
After analysis of the feasibility study, the officials said it is expected that the project's investor will get back return in 25 years under the plan of 60:40 investment and viability gap funding (VGF) with three per cent rate of loan interest.
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