The Padma Multipurpose Bridge (PMB) project has so far paid US$1.6 billion to its contractors and to meet other bills.
The spending in foreign exchange (forex) is nearly 26 per cent or around $560 million lower than $2.16 billion earlier estimated by the project office when the country had decided to construct the bridge with its own fund, officials have said.
The Bangladesh Bridge Authority, the executing agency of the Tk301.9 billion ($3.6 billion) project, had placed the demand for foreign currency after the withdrawal of the foreign financiers from the project in 2013.
The foreign currency meant for paying contractors and import bills of construction materials.
Project Director M Shafiqul Islam said the demand for foreign currency reduced due to buying a significant portion of the construction materials from domestic sources.
At the planning stage, he said that MS rod, geo bag and steel-related materials were considered to be imported, but later it was found some of the local materials complied with the tender specifications. "So, we could save foreign currency."
The PMB project appointed two foreign firms to construct the 6.15-kilometre bridge and carry out 14km river training work on both sides of the river bank.
As per the contracts signed in 2014, the PBM had to make 70 per cent payment in US dollars.
Though the dream bridge was opened on June 25 last year, the river training work is yet to complete.
The PD, however, said the foreign currency demand for the PMB project would be very little for the rest of the work remaining to be completed.
The project, which was built with options for keeping roads on the top tier and rail on the lower tier, appointed local contractors for building approach roads on both sides.
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