Mymensingh Highway is going to be upgraded to an expressway as the Cabinet Committee on Economic Affairs on Wednesday approved a proposal to develop the road under public-private partnership (PPP).
South Korea’s state-owned company Korea Overseas Infrastructure and Urban Development Corporation (KIND) will invest an estimated amount of Tk 3,353 crore in the project tilted: ‘Improvement of Dhaka (Joydebpur)-Mymensingh Road into Expressway with Service Lane on both sides’.
Finance Minister AHM Mustafa Kamal, who presided over the cabinet body meeting, informed reporters that the Korean firm will bear the full cost of the project while the Bangladesh government will only spend Tk 280 crore for the rehabilitation of the affected people and Tk 100 crore for utility service relocation.
He said this highway has already been built as a four-lane one by the Roads and Highway Division.
Four more projects
Another meeting of the Cabinet Committee on Public Purchase was held later with Finance Minister AHM Mustafa Kamal in the chair. This meeting approved procurement proposals.
These include Public Works and Housing Ministry’s proposal to award a contract of Tk 160.73 crore to Noorani Construction Ltd to build 76 flats each having a size of 1,800 square feet for government officials at Azimur Government Colony.
Three proposals of the Industries Ministry also received nod from the cabinet body.
As per the proposals, the Bangladesh Chemical Industries Corporation (BCIC) will import 25,000 metric tons (MT) bulk granular urea fertiliser from Saudi Basic Industries Corporation (SABIC) at Tk 56.96 crore while another 25,000 MT bulk granular fertiliser from Ruwais Fertilizer Industries (Fertiglobe) of the United Arab Emirates (UAE).
The BCIC will procure 30,000 metric tons (MT) of bagged granular urea fertiliser from Karnaphuli Fertiliser Company (Kafco) at a cost of Tk 64.73 crore.
Source: United News of Bangladesh