Padma Bridge
ADB, IDB okay $755m credit
WB’s $1.5b in process
Asian Development Bank (ADB) and Islamic Development Bank have approved loans of $615 million and $140 million for the construction of Padma Multipurpose Bridge.
The development partners took the decisions at their board meetings yesterday, said Communications Minister Syed Abul Hossain.
Approval of $1500 million loan by the World Bank (WB) is now in process, the minister said.
Yesterday in a press release, the WB said the preparation for the bridge is on in full swing, and the government along with four development partners is working closely to complete the construction of the bridge in time.
The press release also said the WB board will approve a credit of $1.2 billion in February, 2011.
The minister said Japan’s approval for $450 million loan it promised earlier for the 6.15 km long bridge is expected to come during Prime Minister Sheikh Hasina’s visit to Japan.
Mentioning that the estimated cost of the bridge is $2.7 billion, Abul Hossain said, “We have no fund crisis for the bridge now.”
Ten firms on Wednesday submitted their pre-qualification documents for the construction work of the bridge.
They are Daelim-BAM-VCI joint venture, Hyundai Eng Construction, Samsung, Hindustan Construction and Vinci joint venture, China Railway 15 Bureau, China Railway Construction Corporation, China Major Bridge Eng, GS Engineering Construction Corporation, CCCC Ltd China and L and T India.
The construction work of the bridge is likely to begin early next year with a target of completion by 2013.
