Three-year SPM project to take nine yrs, cost nearly doubles

With one more extension, the Single Point Mooring (SPM) project would now take nine years to complete than its original completion period of just over three years, almost doubling the cost to Tk 82.98 billion.
The Executive Committee of the National Economic Council (ECNEC) approved extension of the project completion deadline to December 2024 with the cost overrun at its meeting at the Planning Commission in the city on Tuesday, with Prime Minister Sheikh Hasina in the chair.
The project titled "Installation of Single Point Mooring (SPM) with Double Pipeline", taken up in November 2015 with a cost of Tk 49.35 billion, was supposed to be completed in December 2018.
The state-run Eastern Refinery Limited (ERL) took up the project to
Bring fuel oil from vessels in the deep sea to its facilities in Chattogram without using lighterage vessels for cutting transportation costs.
Along with the SPM project, the ECNEC on the day approved record-high 37 projects at a combined cost of Tk 526.12 billion, Planning Minister MA Mannan told journalists after the meeting.
Of the total cost, Tk 215.47 billion will come from the government's internal resources, Tk 14.97 billion from the organisations concerned and the remaining Tk 295.68 billion is expected to come as project assistance from the development partners.
Meanwhile, the committee sent back seven other projects as the Planning Commission (PC) placed 44 development projects before the meeting, the PC officials said.
According to the PC officials, the government first revised the SPM project to enhance the cost to Tk 54.26 billion, followed by the first extension to December 2019.
The government again forced to revise the project for the second time, increasing the cost to Tk 65.68 billion and the execution deadline to December 2022.
The ERL failed again and secured the third revision - with cost escalation to Tk 71.24 billion and time to December 2023 - before the fourth revision was approved on Tuesday.
Prime Minister Hasina asked the authorities concerned to create a dedicated fund for ensuring proper maintenance of roads and highways across the country, the planning minister said after the ECNEC meeting.
"We've built so many roads and highways over the last 15 years. Now it is very much necessary to keep those suitable for plying vehicles through necessary maintenance. For this, a dedicated fund should be created for bearing the expenditure," he quoted the PM as saying.
The PM also directed agencies concerned to take necessary steps for taking up and implementing foreign-funded projects aimed at boosting foreign currency reserves, Mr Mannan said.
Asked about the record number of projects at the ECNEC meeting, he said no project related to the next general election got approval. All the approved projects are to expedite overall development of the country, he added.
He further said no project was approved in the ECNEC meeting over the last 15 years without proper scrutiny.
Replying to another question, Mr Mannan said the arson and vandalism of the opposition that started since October 28 have affected the livelihood of the general mass.
The ECNEC approved 36 other projects included transformation of Chattogram-Dohazari meter-gauge rail line into dual-gauge at Tk 70.85 billion; rejuvenating River Ichamati under Pabna district at Tk 15.55 billion; River Jamuna sustainable management project-1: riverbank protection and river training (component-1) at Tk 8.73 billion; Learning Acceleration in Secondary Education (LAISE) at Tk 33.04 billion; ensuring offsite water supply facilities at Rooppur Nuclear Power Plant at Tk 2.41 billion; installation of smart prepaid gas meters, SCADA & GIS at PGCL franchise area at Tk 6.81 billion; and Bogura-Rangpur-Syedpur gas transmission pipeline erection project (1st revised) at an additional cost of Tk 1.11 billion.

kabirhumayan10@gmail.com