South Korea has officially confirmed its investment in a new public-private partnership (PPP) project to supply water from the Meghna River to Bangabandhu Sheikh Mujib Shilpa Nagar - Bangladesh's largest industrial city in the south-eastern swathe.
With the latest one, the South Korean investment portfolio under the government-to-government (G2G) public-private partnership framework comprises five projects. The other four projects were in the rail, road and power sectors, with an estimated cost of US $10 billion.
The investment confirmation for Bangabandhu Shilpa Nagar water supply work was provided during the 5th joint platform meeting in Dhaka on Sunday. The meeting was convened by Mohammad Mushfiqur Rahman, Chief Executive Officer (Secretary) of the PPP Authority.
Sources said that the feasibility study for the water supply project from the Meghna River is still ongoing, hence the estimated cost has not been finalised.
The joint PPP platform meeting expressed satisfaction with the progress of four projects that are being implemented under the G2G PPP model.
According to a press release from the PPP Authority, the Bangladesh side was led by Mushfiqur Rahman, while South Korean Ambassador to Bangladesh Park Young Sik represented the Korean delegation.
Tofazzel Hossain Miah, principal secretary to the Prime Minister's Office and Chairman of the PPP Authority, was present as the chief guest.
According to a source, private investors on behalf of the Korea Overseas Infrastructure & Urban Development Corporation (KIND) introduced the project titled "Supply of Treated Water from the Meghna River to Bangabandhu Sheikh Mujib Shilpa Nagar", and announced it as a new PPP initiative.
Updates on the previous four PPP projects were presented at the meeting.
The Bangladesh Bridge Authority (BBA) shared details of the progress and implementation strategy for the "Meghna Bridge Project", which involves constructing a four-lane bridge over the Meghna River along the Bhulta to Aaraihazar to Bancharampur Road.
The Roads and Highways Department provided an update on the "Improvement of Dhaka (Joydebpur) - Mymensingh Road into Expressway with a Service Lane" project.
The Bangladesh Railway presented the updates on the "Construction of Circular Rail Line around Dhaka City", while the Dhaka Electric Supply Company Limited (DESCO) discussed the"Expansion and Strengthening of the Electrical Distribution System through an Underground Network in Purbachal New Town under DESCO".
KIND expressed satisfaction with the progress and proposed advancing the government-to-government partnership programme further.
Among others, Senior Secretary of the Power Division Md Habibur Rahman, Secretary of the Bridges Division Mohammad Monjur Hossain, Secretary of the Local Government Division Muhammad Ibrahim, Rail Secretary Dr Md Humayun Kabir, and Information Secretary of the ICT Division Md Shamsul Arefin were present.
The CEO of KIND Kang Hoon Lee was also present.
The objective of the meeting was to delve into new projects, provide strategic guidance to all parties involved in the execution of the selected projects and explore various financing avenues for these undertakings.
The session concluded with a collective commitment from the participants to enhance mutual cooperation and collaborate closely to successfully implement infrastructure projects in Bangladesh.
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