Welcome to Business Outlook
Related Articles
The work of key mega projects has gained full momentum backed by an increased oversight, overcoming the primary hurdles and corona-caused slowdown.
Padma Bridge project is close to the finishing line while the first metro rail project has seen significant progress, even though overall all progress of mega projects is still below 50 percent.
“The mega projects faced a setback because of the coronavirus pandemic. But now all the project work is going on in full swing,” IMED Secretary Pradip Ranjan Chakrabarty said.
IMED is giving necessary suggestions to the implementing agencies continuously to expedite project implementation, he said, adding that there is no laxity in the projects now as they are under close watch.
Although the projects were primarily moving slowly, the current momentum in the work of the mega projects is optimistic, according to IMED.
After the initial delay, the mega projects saw a major setback amid the corona crisis. The projects are moving fast as monitoring activities have been stepped up, it added.
The projects also include the Padma Bridge rail link, Rooppur nuclear power, Matabari coal power plant, Payra deep seaport, Dohazari-Ramu-Cox’s Bazar-Ghundum rail line and MRT Line-6 projects.
The government is implementing these seven key mega projects at a total cost of Tk 2,629.26 billion, of which Tk 1,120.73 billion was spent until last month to post 42 per cent overall financial progress, IMED data suggest.
The government expects to open the Padma multipurpose bridge to traffic by June next year as the construction work is only left with roadway carpeting and erection of parapet wall and other utility services.
Of Tk 301.93 billion estimated project cost, Tk 263.40 billion was spent up to September this year to register 88 per cent physical progress and 86.25 per cent financial progress.
The country’s largest project –the Rooppur nuclear power plant is being implemented at a staggering amount of Tk 1,130.93 billion with financial and technical assistance from Russia.
Despite the pandemic, the project has advanced 11.57 percentage points in the last one year. Its physical progress stood at nearly 40 per cent last month which was 28 per cent one year ago.
Its financial progress was recorded at 38.18 per cent in September after Tk 431.73 billion was spent. Its deadline is December 2025.
The Matarbari coal power plant is being implemented combining 12 projects under the banner of the Maheshkhali-Matarbari combined infrastructure programme.
The Tk 359.84 billion mega scheme has so far advanced 59 per cent physically and 50.96 per cent financially, whereas its physical progress was only 31.60 per cent until July last year, according to IMED.
Another important scheme Padma Bridge Rail Link project has advanced nearly 20 per cent in a year as its latest progress stood at 44.5 per cent in September which was 25.23 per cent in July last year.
The project to establish a direct road link between Dhaka and Jashore through the Padma bridge is being implemented at a cost of Tk 392.47 billion.
The project financially advanced nearly 50 per cent with Tk 195.63 billion total expenditure so far. Its current implementation deadline is June 2024.
Japan assisted MRT Line-6 or Dhaka metro rail project was the worst sufferer of the pandemic and the terror attack in Gulshan on 01 July 2016 that left seven Japanese project engineers dead.
The much-coveted project designed to drastically cut traffic hassles of the city dwellers has so far seen 73.34 per cent financial progress.
Until September, Tk 160.59 billion was spent out of nearly Tk 220 billion project cost.
The project’s current deadline is June 2024. However, the Uttara-Agargaon first phase is expected to open by December next year.
The project to construct the first-phase infrastructure for Payra Sea Port is expected to be complete by its current deadline of June 2022.
The physical and financial progress of the scheme was found to be 83 per cent and 70.19 per cent respectively as Tk 30.70 billion out of Tk 43.74 estimated cost has been spent so far.
The government is implementing Dohazari-Ramu-Cox’s Bazar-Ghundum rail line project in a bid to develop local tourism as well as regional connectivity at an estimated cost of Tk 180.34 billion.
In a year, the project physically advanced 22 per cent from 41 per cent to 63 per cent. So far, nearly 33 per cent of financial progress was achieved with Tk 59.17 billion cumulated expenditure.
(DS)
