Deep sea port study suffers setback as consultant goes bankrupt
Monday, 1 December 2008
Shakhawat Hossain
The feasibility study on the country's proposed deep sea port (DSP) in the Bay has suffered a setback as the Japanese consulting firm has become bankrupt due to the global financial meltdown, shipping ministry officials said Sunday.
According to the officials, the techno-feasibility study has suffered the setback as the Pacific Consultant International (PCI) entrusted with the job has become a direct victim of the deepening global financial crisis that has already slowed down the growth of Asia's largest economy, Japan.
The PCI was scheduled to submit the second part of the study including conceptual design, project appraisal, project management model and other services early next year.
"But the firm has expressed its inability to complete the study due to its financial weakness," said a senior ministry official.
The official also said the shipping ministry is, however, optimistic as the PCI has been taken over by another Japanese consulting house, Oriental Consultant Japan, which is committed to carrying out the study.
The shipping ministry has already sought opinions from the law ministry to know whether the new consulting firm will be able to complete the remaining part of the feasibility study.
It has been waiting for the law ministry opinion for the last fortnight, added the official.
The Pacific Consultants International that was appointed by the immediate past political government to carry out the study involving Tk 130 million (13 crore) have submitted five reports including site selection.
The feasibility study on the country's proposed deep sea port (DSP) in the Bay has suffered a setback as the Japanese consulting firm has become bankrupt due to the global financial meltdown, shipping ministry officials said Sunday.
According to the officials, the techno-feasibility study has suffered the setback as the Pacific Consultant International (PCI) entrusted with the job has become a direct victim of the deepening global financial crisis that has already slowed down the growth of Asia's largest economy, Japan.
The PCI was scheduled to submit the second part of the study including conceptual design, project appraisal, project management model and other services early next year.
"But the firm has expressed its inability to complete the study due to its financial weakness," said a senior ministry official.
The official also said the shipping ministry is, however, optimistic as the PCI has been taken over by another Japanese consulting house, Oriental Consultant Japan, which is committed to carrying out the study.
The shipping ministry has already sought opinions from the law ministry to know whether the new consulting firm will be able to complete the remaining part of the feasibility study.
It has been waiting for the law ministry opinion for the last fortnight, added the official.
The Pacific Consultants International that was appointed by the immediate past political government to carry out the study involving Tk 130 million (13 crore) have submitted five reports including site selection.