Loan accord signing with KSA on Feb 28
Sonia H Moni | Saturday, 26 February 2011
Sonia H Moni
A mission of Saudi Fund for Development (SFD) arrives in Dhaka Sunday to sign a loan agreement worth Tk 3.11 billion for construction of the third Shitalakkha Bridge for facilitating direct traffic movement between the north and southeast regions and the southwest region avoiding Dhaka city. The mission will be headed by Deputy Managing Director of Saudi Fund for Development (SFD) and Director General of Saudi Export Programme (SEP) Ahmed M Al-Ghannam. The SEP will sign the agreement with Economic Relation Division Monday (February 28). The mission will comprise Abdullah A al-Shedokhi and Khalid A al-Wohibi. The officials of the ministry of communications said the bridge which is to be 1.2 km in length will be constructed in Bandar upazila of Narayanganj district connecting Madanganj. They said the project, taken up in November last year, will be completed by 2013 at a total cost of Tk 3.77 billion of which the Saudi government lending agency, SFD, will provide Tk 3.11 billion. The third Shitalakkha Bridge project will have a four-lane road with 2.0 km approach and link roads in both sides. The bridge is expected to help bypass a substantial amount of traffic that will be flowing to, and from, Chittagong, Sylhet and Barisal regions. The bridge will connect Mograpara, Madanpur, Kachpur and Demra through Madanganj-Syedpur, Mukteerpur, Munshiganj, Tongibari, Louhajang and Mawa for onward movement of vehicular traffic to Khulna, Jessore, Benapole, Mongla and Barisal. A senior official of the ministry said a techno-feasibility study on the bridge construction was completed last year. The study shows an internal economic rate of return at 20 per cent after completion of the project. He said the bridge will also reduce 30-km journey of the people of two separated upazilas of Narayanganj district as boats are the only option for the people of both sides to transport many agricultural products. Executive Committee of the National Economic Council (ECNEC) had approved the project on November 11, 2010. The mission will leave Dhaka on March 1.
A mission of Saudi Fund for Development (SFD) arrives in Dhaka Sunday to sign a loan agreement worth Tk 3.11 billion for construction of the third Shitalakkha Bridge for facilitating direct traffic movement between the north and southeast regions and the southwest region avoiding Dhaka city. The mission will be headed by Deputy Managing Director of Saudi Fund for Development (SFD) and Director General of Saudi Export Programme (SEP) Ahmed M Al-Ghannam. The SEP will sign the agreement with Economic Relation Division Monday (February 28). The mission will comprise Abdullah A al-Shedokhi and Khalid A al-Wohibi. The officials of the ministry of communications said the bridge which is to be 1.2 km in length will be constructed in Bandar upazila of Narayanganj district connecting Madanganj. They said the project, taken up in November last year, will be completed by 2013 at a total cost of Tk 3.77 billion of which the Saudi government lending agency, SFD, will provide Tk 3.11 billion. The third Shitalakkha Bridge project will have a four-lane road with 2.0 km approach and link roads in both sides. The bridge is expected to help bypass a substantial amount of traffic that will be flowing to, and from, Chittagong, Sylhet and Barisal regions. The bridge will connect Mograpara, Madanpur, Kachpur and Demra through Madanganj-Syedpur, Mukteerpur, Munshiganj, Tongibari, Louhajang and Mawa for onward movement of vehicular traffic to Khulna, Jessore, Benapole, Mongla and Barisal. A senior official of the ministry said a techno-feasibility study on the bridge construction was completed last year. The study shows an internal economic rate of return at 20 per cent after completion of the project. He said the bridge will also reduce 30-km journey of the people of two separated upazilas of Narayanganj district as boats are the only option for the people of both sides to transport many agricultural products. Executive Committee of the National Economic Council (ECNEC) had approved the project on November 11, 2010. The mission will leave Dhaka on March 1.