The cost of the Padma Bridge rail link, the construction of which is yet to start in full swing, has gone up by Tk 4,269 crore due to escalating land acquisition expenditure and delay in project implementation.
The original cost of the project was Tk 34,989 crore and now it stands at Tk 39,258 crore, a 12 percent hike.
The Executive Committee of the National Economic Council (Ecnec) yesterday (Tuesday) approved the revised project and two years more time for completing it. Now it has to be finished by June 2024.
The cost increased as the cost of land acquisition rose, said Planning Minister AHM Mustafa Kamal at a press briefing after the Ecnec meeting.
Land was not available at the price first estimated, he added.
The revised project documents show that now Tk 6,224 crore has been allocated for acquiring 1,786 acres. Originally, Tk 2,853 crore had been earmarked for 1,700 acres.
Due to the delayed start of the project, the cost of construction also went up by Tk 959 crore.
The Ecnec had approved the project in May 2016 but the loan agreement with China was delayed causing late start to the project.
Late last month, the Economic Relations Division (ERD) signed a Tk 21,036 crore equivalent loan agreement with Exim Bank of China.
The railway ministry earlier this month at a press conference said the government was going to start construction in a month.
Under the project, a double rail line would be built from Dhaka to Jessore and 23km of it would be elevated.
The project would bring four districts Munshiganj, Shariatpur, Madaripur and Narail under the coverage of the railway network.
Now, it takes more than nine hours to travel the 412km from Dhaka to Khulna but once the project is done, the distance would be reduced to 213km and it would take four hours.
- Courtesy: The Daily Star/ May 23, 3018
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