$1.7b sought from Japan for metro rail project
Tuesday, 26 October 2010
FE Report
The government has sought a loan of US $1.7 billion from Japan to establish the first metro rail in the city's busiest corridor between Pallabi and Sayedabad.
The Economic Relations Department sent letter to the Japan International Cooperation Agency (JICA) last month seeking the loan to start the construction soon after completion of a feasibility study.
Officials said Japan has shown interest to help establish the metro rail in the city since long and the formal request from the government was made last month.
They said lending assurance from the Japanese government may come during the Prime Minister Sheikh Hasina's visit to Japan, possibly next month.
The government plans to construct the 22-km metro rail after a study of Dhaka Transport Coordination Board found the corridor suitable for it through elevated way.
Though the government initiated a move to invite tender to set up metro rail under the public-private-partnership (PPP) last year it dropped the idea in March this year after JICA hinted that it would bankroll over billion dollar infrastructure.
The DTCB's study titled Dhaka Urban Transport Network Development Study (DHUTS) identified the Pallabi-Sayedabad route connecting northern and southern parts of the city in April last year.
But the study proposed to link Uttara with Pallabi through underground.
The government has sought a loan of US $1.7 billion from Japan to establish the first metro rail in the city's busiest corridor between Pallabi and Sayedabad.
The Economic Relations Department sent letter to the Japan International Cooperation Agency (JICA) last month seeking the loan to start the construction soon after completion of a feasibility study.
Officials said Japan has shown interest to help establish the metro rail in the city since long and the formal request from the government was made last month.
They said lending assurance from the Japanese government may come during the Prime Minister Sheikh Hasina's visit to Japan, possibly next month.
The government plans to construct the 22-km metro rail after a study of Dhaka Transport Coordination Board found the corridor suitable for it through elevated way.
Though the government initiated a move to invite tender to set up metro rail under the public-private-partnership (PPP) last year it dropped the idea in March this year after JICA hinted that it would bankroll over billion dollar infrastructure.
The DTCB's study titled Dhaka Urban Transport Network Development Study (DHUTS) identified the Pallabi-Sayedabad route connecting northern and southern parts of the city in April last year.
But the study proposed to link Uttara with Pallabi through underground.