The government is set to manufacture CNG three-wheelers through state-run Atlas Bangladesh, said Industries Minister Dilip Barua yesterday.
“We are looking for prospective investors from India and China,” said Barua in his ministry's annual performance report.
“We will implement the plan within the shortest possible time, because we got offers to make three-wheelers locally from leading manufacturers of these two countries.”
The government started a project to assemble sedan car Lancer Ex and Pajero sports vehicle in Bangladesh under a joint venture with Progoti Industries Ltd and Japanese automaker Mitsubishi Motors.
Mitsubishi will assemble the cars at Progoti's Chittagong plant and already carried out a feasibility study. The Japanese carmaker is currently assembling Pajero Jeep V6 for Bangladesh in a deal with Progoti.
Barua said the adoption of a new industrial policy was a big success of his ministry, which envisions turning the country into a middle-income nation by 2021.
The new policy sets a target to increase the contribution of the industrial sector in GDP to 40 percent, from 28 percent now. “We hope to increase the contribution of the industrial sector to employment generation to be 25 percent from 16 percent,” he said.
Barua said a reduction in fertiliser prices was also a great success of the government. “It played a major role in strengthening the food security,” he said.
Last year, the government successfully tackled demand for fertiliser by ensuring smooth supply, said the minister. There will be no fertiliser crisis during the upcoming crop production season, he claimed.
According to the industries ministry's statistics, the urea demand will be 2.8 million tonnes this year. The government has a stock of 800,000 tonnes and has taken measures to increase the production and import.
The minister said the import of urea from Qatar, United Arab Emirates and Saudi Arabia is going on as part of state-to-state deals. Karnaphuli Fertiliser Company Ltd also agreed to sell its production to meet the peak demand.
Although no new industries were set up in the last two years, the ministry played promoted private-sector investment to set up industries, Barua said.
“We've provided adequate logistics and policy support to promote private-sector investment in the industry,” he said.
Showing posts with label Transport. Show all posts
Showing posts with label Transport. Show all posts
Thursday, February 3, 2011
PADMA BRIDGE CREDIT Govt, WB end negotiations
PADMA BRIDGE CREDIT Govt, WB end negotiations | Business | biz.bdnews24.com
Dhaka, Jan 9: The government has completed negotiations with the World Bank for its funding worth $1.2 billion (Tk 85 billion) for the Padma bridge.
A delegation of the bank arrived on Jan 6 for negotiations with its Bangladesh counterpart led by ERD additional secretary Arastoo Khan.
The bank is all set to begin disbursement after the project is approved by its board next month, an Economic Relations Division (ERD) official said Sunday.
"The negotiation on additional $300 million committed by the World Bank will be discussed later," said the official.
The loan comes with a grace period of 10 years and after that it will have to be repaid over 30 years with an interest of 0.75 percent.
The other major lenders who have already committed to contribute to the $2.9 billion Padma Multipurpose Bridge include the Asian Development Bank ($615 million), Islamic Development Bank ($140 million) and Japan development agency JICA ($400 million). Bangladesh will provide $600 million from its own resources.
The 6.15-kilometre bridge project, expected to be completed by 2013, is a top government priority.
The main construction work of the bridge, the largest project ever undertaken in Bangladesh, is likely to begin in the next fiscal year. Other related works like land acquisition are already underway, the official said.
"Under the retroactive financing, the government can spend about $60 million on the project before the loan agreement is signed, which will later be adjusted with the loan," he said.
Retroactive financing is a payment made by a borrower for a project out of its own resources before the credit agreement is signed.
The government has already floated international tender for pre-qualification of contractors to build the proposed road-cum-rail bridge.
According to a World Bank assessment report, the proposed bridge is expected to boost the country's economic growth by 1.2 percent, while it will be 2.3 percent in the south-western region.
The bridge will help reduce the economic disparity between the impoverished south-western regions and better developed central parts of the country.
Dhaka, Jan 9: The government has completed negotiations with the World Bank for its funding worth $1.2 billion (Tk 85 billion) for the Padma bridge.
A delegation of the bank arrived on Jan 6 for negotiations with its Bangladesh counterpart led by ERD additional secretary Arastoo Khan.
The bank is all set to begin disbursement after the project is approved by its board next month, an Economic Relations Division (ERD) official said Sunday.
"The negotiation on additional $300 million committed by the World Bank will be discussed later," said the official.
The loan comes with a grace period of 10 years and after that it will have to be repaid over 30 years with an interest of 0.75 percent.
The other major lenders who have already committed to contribute to the $2.9 billion Padma Multipurpose Bridge include the Asian Development Bank ($615 million), Islamic Development Bank ($140 million) and Japan development agency JICA ($400 million). Bangladesh will provide $600 million from its own resources.
The 6.15-kilometre bridge project, expected to be completed by 2013, is a top government priority.
The main construction work of the bridge, the largest project ever undertaken in Bangladesh, is likely to begin in the next fiscal year. Other related works like land acquisition are already underway, the official said.
"Under the retroactive financing, the government can spend about $60 million on the project before the loan agreement is signed, which will later be adjusted with the loan," he said.
Retroactive financing is a payment made by a borrower for a project out of its own resources before the credit agreement is signed.
The government has already floated international tender for pre-qualification of contractors to build the proposed road-cum-rail bridge.
According to a World Bank assessment report, the proposed bridge is expected to boost the country's economic growth by 1.2 percent, while it will be 2.3 percent in the south-western region.
The bridge will help reduce the economic disparity between the impoverished south-western regions and better developed central parts of the country.
Poor transport costs farm sector Tk 300b a year, say speakers
Poor transport costs farm sector Tk 300b a year, say speakers
FE Report
Commerce minister Muhammad Faruk Khan said Wednesday the country must boost production to address the food shortage and resultant spike of daily essentials.
"We have to increase output to address the challenge of food price hike," the minister said.
Terming agriculture a crucial sector, Mr. Khan said that the government would soon sit with all relevant actors to find a wayout of the sector.
His comments came at a seminar on 'Agro-Processing Industries in Bangladesh: Possible Dutch Cooperation,' organised by Dutch-Bangla Chamber of Commerce and Industry (DBCCI) in the city.
The commerce minister also said over the last two years, about 2,000 megawatts (MWs) of electricity were added to the national grid and another 1,000 mw could be added by the end of this year.
He sought the Dutch technical cooperation to make trade relations between Bangladesh and the Netherlands stronger and more vibrant.
"We're facing major challenges of climate change, infrastructure shortage and lack of skills," he told the seminar.
Dutch ambassador of Alphons Hennekens said his country is forging cooperation with both the public and private sector to build a sustainable and productive agriculture sector.
He said that Netherlands' agro-processing industry plays a significant role in the Dutch economy.
He held out the assurance that his embassy would help Bangladeshi entrepreneurs select the right business partner for joint ventures with Dutch companies.
Dr M Saleh Ahmed presented the keynote paper in the seminar, chaired by its president M Imam Hossain.
The speakers opined that Bangladesh could share Netherlands' experience in its food and food processing sector and the field of agriculture.
In his keynote paper, Dr Saleh Ahmed said Bangladesh has tremendous potential to increase production of selective high value agricultural commodities.
"The industry is growing fast and the agro-processing industry is opening up new window of opportunity considering investment, technology and export and Dutch cooperation can promote agro -processing industries in Bangladesh," he said.
One speaker said every year the country's agriculture sector incurs losses of 300 billion taka in the post-harvest period for lack of proper transportation and premature harvesting.
Dhaka-M'singh highway widening work to begin soon
Dhaka-M'singh highway widening work to begin soon
FE Report
The Dhaka-Mymensingh highway widening work will begin soon at a cost of Tk 9.0 billion as the government completed signing agreements with the project contractors and consultant Thursday.
The Roads and Highways Department (RHD) signed the agreements with the three contractors, all joint ventures of China and Bangladesh, to construct the 87-kilometre road.
The department also signed another agreement with United States-Bangladesh joint venture firm to work as consultant of the project.
The agreement signing ceremony held at the RHD conference room Thursday was witnessed by Communications Minister Syed Abul Hossain.
RHD officials said HRBC of China and Intraco Bangladesh Limited have won the work of the first two phases beginning from Joydevpur to Rajendrapur and from Rajendrapur to Mawna.
The third phase starting from Mawna to Raimoni will be constructed by MBEC of China and Project Builder Limited of Bangladesh and the last phase from Raimoni to Mymensingh by MCCC of China and Shamim Engineering and Toma Enterprise of Bangladesh.
Luis Burger Group Incorporate of the United States and BCL of Bangladesh will work as the consultant of the project, the officials added.
Speaking on the occasion, the communications minister said Dhaka-Mymensingh highway work has been taken up as part of the government's plan to widen the country's national highways into four-lane ones.
He also alerted that if the contractors fail to finish the work in time, the government would confiscate their performance guarantees.
The Dhaka-Mymensigh highway widening project was one of the components of the World Bank committed Road Sector Reform Project. As part of the project, making the highway from Dhaka to Joydevpur four laned was completed but the rest of the work remained suspended due to bank's withdrawal of funding of the project on allegation of widespread corruption.
The present government revived the project in 2010 considering importance of the highway and decided to construct it from its own fund. The bidding process started in October and completed with the approval of the cabinet purchasing committee on January 6 this year.
FE Report
The Dhaka-Mymensingh highway widening work will begin soon at a cost of Tk 9.0 billion as the government completed signing agreements with the project contractors and consultant Thursday.
The Roads and Highways Department (RHD) signed the agreements with the three contractors, all joint ventures of China and Bangladesh, to construct the 87-kilometre road.
The department also signed another agreement with United States-Bangladesh joint venture firm to work as consultant of the project.
The agreement signing ceremony held at the RHD conference room Thursday was witnessed by Communications Minister Syed Abul Hossain.
RHD officials said HRBC of China and Intraco Bangladesh Limited have won the work of the first two phases beginning from Joydevpur to Rajendrapur and from Rajendrapur to Mawna.
The third phase starting from Mawna to Raimoni will be constructed by MBEC of China and Project Builder Limited of Bangladesh and the last phase from Raimoni to Mymensingh by MCCC of China and Shamim Engineering and Toma Enterprise of Bangladesh.
Luis Burger Group Incorporate of the United States and BCL of Bangladesh will work as the consultant of the project, the officials added.
Speaking on the occasion, the communications minister said Dhaka-Mymensingh highway work has been taken up as part of the government's plan to widen the country's national highways into four-lane ones.
He also alerted that if the contractors fail to finish the work in time, the government would confiscate their performance guarantees.
The Dhaka-Mymensigh highway widening project was one of the components of the World Bank committed Road Sector Reform Project. As part of the project, making the highway from Dhaka to Joydevpur four laned was completed but the rest of the work remained suspended due to bank's withdrawal of funding of the project on allegation of widespread corruption.
The present government revived the project in 2010 considering importance of the highway and decided to construct it from its own fund. The bidding process started in October and completed with the approval of the cabinet purchasing committee on January 6 this year.
Metro rail route faces modification
M Abul Kalam Azad
The communications ministry is going to modify a part of the first-phase route of Dhaka metro rail considering commuters' convenience.
The route from Uttara Third Phase to TSC of Dhaka University via Pallabi, Farmgate, Sonargaon Hotel will remain unchanged. From TSC, the route will divert towards Curzon Hall, the Jatiya Press Club, Bangladesh Bank and up to the Kamalapur Railway Station.
As per the existing plan, the route from TSC was supposed to touch the Central Shaheed Minar, Fulbaria, Gulistan and Tikatuli before reaching Syedabad.
“We are considering the modification to benefit more people from the service,”
said Saleh Uddin, additional executive director of Dhaka Transport Coordination Board.
He said the majority of those who live in Mirpur area come to Motijheel for various purposes while the present route conflicts with the Gulistan-Jatrabari flyover.
The communications ministry yesterday discussed the modification with a team from Japan International Cooperation Agency (JICA), which showed interest in financing 80 percent of the project cost -- $1.7 billion -- while the government will bear the rest.
“I asked the JICA team to complete a feasibility study on the modified route by this March,” Communications Minister Syed Abul Hossain said after the discussion.
Earlier, JICA study chalked out three routes for the metro rail and showed interest in the first part dubbed Mass Rail Transit-6. This part of the route will be 22-kilometre long, stretching from Uttara Third Phase to Syedabad.
The first phase of the metro rail will be built mainly over government land and existing roads. There is, however, a chance that 1.8 kilometres of the proposed metro rail between Bangladesh Bank and Kamalapur Rail Station be underground.
“This small stretch has several high-rises and the government will have to require land. So, building underground tracks will be the best option here,” architect Tanwir Newaz, also a consultant of DTCB, told The Daily Star.
He also spoke for diverting the route from TSC. “Apart from the Gulistan flyover, the present route will also disturb the Central Shaheed Minar and the under-construction Asad Memorial near the emergency unit of Dhaka Medical College Hospital,” he observed.
According to the JICA study, Japan and Bangladesh are scheduled to complete financial negotiations by this June, after which a detailed engineering study is supposed to be carried out.
The study estimated $12 million for each kilometre of the elevated part, while $48 million per km underground.
The government earlier said it would begin construction of the first phase by July 2013, but everything seems to be delayed by months.
“We want to complete all the formalities in the quickest possible time as we target to construct a considerable portion of the metro rail within the tenure of the present government,” said the communications minister.
Meanwhile, the JICA team led by its director Tomohide Ichiguchi also inquired about the progress of different projects funded by Japan, including that of reforming the Bangladesh Railway.
JICA has committed $730 million to revamp the 150-year-old Bangladesh Railway.
Railway Director General TA Chowdhury informed that they could not form the proposed line of business (LOBs), an important part of the reform, due to no clearance from the ministry.
Communications Secretary Md Mozammel Haq Khan said the finance ministry approved formation of the LOBs and they would soon give the clearance.
Tuesday, January 11, 2011
$2.93b Padma bridge okayed
http://www.thefinancialexpress-bd.com/more.php?news_id=122663&date=2011-01-12
$2.93b Padma bridge okayed
Cost doubles in three years
FE Report
The government Tuesday approved a 205.07 billion taka (US$2.93 billion) bridge over the river Padma, raising its construction cost to nearly twice the estimate made three years back.
The country’s highest project approval body led by Prime Minister Sheikh Hasina okayed the revised cost in an effort to kick-off the work of the Bangladesh’s costliest project later this year, officials said.
The body, Executive Committee of the National Economic Council (ECNEC), had approved a 101.62 billion taka budget for the 6.15 kilometres long rail-cum-road bridge in August 2007.
But the cost has been revised due to soaring prices of construction materials in the global market, a larger-than-expected spike in resettlement budget and complex engineering of the project, communications ministry officials said.
The bulk of the cost will be funded by credit from development lenders such as the World Bank, Asian Development Bank, Japan and Islamic Development Bank. Construction is expected to complete in 2014-15 financial year.
The government took up the ambitious Padma Bridge building scheme to connect the country’s impoverished southwestern region with the more-developed central and eastern parts.
A World Bank report has said the planned bridge would boost the country’s gross domestic product by 1.2 per cent, revive the fortune of the ailing Mongla Port and cut poverty in the poorest south-western districts.
The report said pace of poverty alleviation in the country’s 20 odd southwestern districts, where level of hunger is five per cent higher than the national average, would speed up once the bridge is built.
Of the $2.93 billion, the four development partners will lend $2.36 billion with the World Bank pledging $1.20 billion, ADB $615 million, Japan $400 million and the IDB $140 million.
The rest will be financed from the government’s tax revenue, an official of the communications ministry said.
The ECNEC also approved a 37.80 kilometres long land port connecting road scheme in southern district of Feni, which will facilitate cross-border trade with northeastern Indian states.
The Baruierhat-Heako-Ramgarh land port road, which links southeastern Bangladesh with the Indian state of Tripura, will cost 2.04 billion taka. It will be financed from the one billion dollar Indian soft credit.
A top government official said the Tripura state government would construct part of the road linking the Indian land port of Sabrum with Bangladesh’s border point of Ramgarh, situated on the bank of Feni river.
Seven north-eastern Indian states would use the planned road to access Chittgaong seaport, he said, adding it would spur trade between the two nations.
The ECNEC in its meeting in Dhaka also endorsed five other projects valued at 18.09 billion taka.
They include 10.78 billion taka Chittagong Water Supply Improvement and Sanitation project, 780 million taka gas supply scheme in Chandpur, a 150megawatt power plant and 4.25 billion taka sewage treatment plant at Dasherkandi.
$2.93b Padma bridge okayed
Cost doubles in three years
FE Report
The government Tuesday approved a 205.07 billion taka (US$2.93 billion) bridge over the river Padma, raising its construction cost to nearly twice the estimate made three years back.
The country’s highest project approval body led by Prime Minister Sheikh Hasina okayed the revised cost in an effort to kick-off the work of the Bangladesh’s costliest project later this year, officials said.
The body, Executive Committee of the National Economic Council (ECNEC), had approved a 101.62 billion taka budget for the 6.15 kilometres long rail-cum-road bridge in August 2007.
But the cost has been revised due to soaring prices of construction materials in the global market, a larger-than-expected spike in resettlement budget and complex engineering of the project, communications ministry officials said.
The bulk of the cost will be funded by credit from development lenders such as the World Bank, Asian Development Bank, Japan and Islamic Development Bank. Construction is expected to complete in 2014-15 financial year.
The government took up the ambitious Padma Bridge building scheme to connect the country’s impoverished southwestern region with the more-developed central and eastern parts.
A World Bank report has said the planned bridge would boost the country’s gross domestic product by 1.2 per cent, revive the fortune of the ailing Mongla Port and cut poverty in the poorest south-western districts.
The report said pace of poverty alleviation in the country’s 20 odd southwestern districts, where level of hunger is five per cent higher than the national average, would speed up once the bridge is built.
Of the $2.93 billion, the four development partners will lend $2.36 billion with the World Bank pledging $1.20 billion, ADB $615 million, Japan $400 million and the IDB $140 million.
The rest will be financed from the government’s tax revenue, an official of the communications ministry said.
The ECNEC also approved a 37.80 kilometres long land port connecting road scheme in southern district of Feni, which will facilitate cross-border trade with northeastern Indian states.
The Baruierhat-Heako-Ramgarh land port road, which links southeastern Bangladesh with the Indian state of Tripura, will cost 2.04 billion taka. It will be financed from the one billion dollar Indian soft credit.
A top government official said the Tripura state government would construct part of the road linking the Indian land port of Sabrum with Bangladesh’s border point of Ramgarh, situated on the bank of Feni river.
Seven north-eastern Indian states would use the planned road to access Chittgaong seaport, he said, adding it would spur trade between the two nations.
The ECNEC in its meeting in Dhaka also endorsed five other projects valued at 18.09 billion taka.
They include 10.78 billion taka Chittagong Water Supply Improvement and Sanitation project, 780 million taka gas supply scheme in Chandpur, a 150megawatt power plant and 4.25 billion taka sewage treatment plant at Dasherkandi.
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