Published in: The Daily Star

Date: 30 Apr 2020

The investors of the 47-kilometre Dhaka Elevated Expressway are committed to completing the project as rapidly as possible as implementation had faced a setback due to the pandemic and a fund crisis, said AHMS Aktar, the project director.

The fund crisis has now been resolved as the partner of the project, Italian-Thai Development Public Company, has teamed up with two Chinese firms to complete the project on time, he said.

“The investors are keeping in close contact with me and preparing a plan on how to speed up work once the pandemic subsides.”

The two Chinese companies already started disbursing Tk 7,318 crore, out of the Tk 8,940.18 crore of the construction cost of the project, from March, he said.

In exchange, Italian-Thai has handed over 49 per cent of its share to the Chinese companies — China Shandong International Economic and Technical Corporation Group (34 per cent) and Sino Hydro Corporation (15 per cent).

As per the revised deadline, the construction work of the first phase of the project — Airport to Banani Rail Crossing — will be completed by this October while the second phase — from Banani Rail Crossing to Moghbazar — will end by October next year.

The third and the final phase — from Moghbazar to Kutubkhali on Dhaka-Chattogram Highway — will be completed in October 2022.

Italian-Thai has finished installing more than 900 piles out of the 1,200 needed for the first section, Aktar said.

Construction of the much-talked-about project commenced formally on April 1, 2018. The main objective of this project is to bypass Dhaka in the fastest possible way, which would significantly reduce traffic load inside the capital.

Bangladesh Bridge Authority (BBA) had signed a deal with Italian-Thai in January 2011 to build the expressway, with 19.73km main line stretching from Shahjalal International Airport to Kutubkhali, under a public private partnership at a cost of Tk 8,703 crore.

The scheme faltered time and again over the years, mainly due to the failure of the private investor — Italian-Thai — to manage funds for the project, the government’s delay in handing over the project, and problems related to land acquisition.

Amid uncertainty over funds, the BBA issued the work order to the private partner in March 2018.

Aktar said they have completed acquisition of necessary land and handed it over to the partners before the countrywide lockdown began due to the coronavirus pandemic.

Source:

https://www.thedailystar.net/business/news/dhaka-elevated-expressway-work-will-be-full-swing-once-normalcy-returns-1898089