Japan is likely to confirm some $500 million in credit for doing the remaining work on the third terminal of the Hazrat Shahjalal International Airport (HSIA).
The Japanese development partner JICA completed its appraisal mission on Monday and gave the Economic Relations Division (ERD) its green light to the proposed loan, officials said on Tuesday.
The JICA is likely to provide 76.63 billion Japanese yen (JPY) for full completion of the work on the dream project - the third terminal at HSIA.
"We've completed discussion with the JICA. Now, we're expecting the confirmation of the loan by December this year," said a senior ERD official.
Under the current 44th ODA (Official Development Assistance) loan, the second installment of the loan for the terminal is expected to be finalised, he added.
Earlier in August 2020, the JICA confirmed 80 billion yen (nearly $750 million) of the first installment.
According to the loan agreement, the third terminal is supposed to be completed in April 2024.
On October 07, Prime Minister Sheikh Hasina inaugurated the third terminal in Dhaka partially.
The commercial operation will start next year as the remaining work on the terminal project is expected to be completed by next June.
On 28 December 2019, the PM open the groundbreaking work of the Tk 213-billion third terminal project in Dhaka with an eye to increasing the airport's passenger and cargo capacity.
Of the total cost of the project that covers an area of 542,000 square metres, the government will supply Tk 50 billion while the JICA the remaining amount.
The terminal will boast a floor space of 230,000 square metres, housing 115 check-in counters, 66 departure immigration desks, 59 arrival immigration and three VIP immigration desks.
Upon the full-fledged operation of the terminal, the airport's annual passenger and cargo handling capacity is expected to double.
Its annual passenger handling capacity will be 24 million (including that of old terminals) against the current capacity of only 8.0 million.
At present, the airport can handle 500,000 tonnes of cargo each year.
Work on the construction of 37 new aircraft parking areas and two taxiways connecting to the apron area have already been completed at the third terminal.
Another ERD official said, "We're expecting the proposed JPY76.63 billion loan by next month. We're getting preparation for signing the loan agreement."
The remaining work of the terminal will be completed by the middle next year, he added.
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