Moghbazar-Mouchak flyover tops ECNEC agenda today
Tuesday, 8 March 2011
The Executive Committee of the National Economic Council (ECNEC) meets today (Tuesday) to consider 12 development projects including construction of a flyover between Moghbazar and Mouchak to ease the traffic congestion in and around the area, reports UNB.
The proposed 8.25-km flyover will cost Tk 7.73 billion and if everything goes well it would be opened to the traffic by 2013. It is expected to facilitate the north-south traffic flow and raise the capacity of roads linked with Moghbazar, Eskaton and Malibagh.
Of the project cost, Tk 2.0047 billion will come from the national exchequer, US$53.34 million from Saudi Fund for Development (SFD) and US$28 million from OPEC Fund for International Development (OFID) as loans.
Agreement for the fund has already been signed with SFD and OFID, officials told UNB Monday.
The flyover will connect Saatrasta, Film Development Corporation (FDC), Moghbazar, Mouchak, Shantinagar, Eskaton, Malibagh road intersection and Moghbazar and Malibagh rail intersections.
A feasibility study for the flyover was completed in 2005 but it was shelved for lack of funds.
Official at the Economic Relations Division (ERD) said the SFD would not take any commitment charge for the loan with 2.0 per cent loan charge. It has a 25-year maturity time with a 5-year grace period.