China will finance 65% of the Tk16,901 crore project. Chinese Exim bank will provide a loan of Tk10,094.89 crore at an annual 4% interest rate, according to the proposal
The government is likely to hire Chinese firm CMC to execute the engineering, procurement and construction works of the Dhaka-Ashulia Elevated Expressway.
The total package would cost Tk12,566.47 crore, according to officials. A proposal of the Bridges Division in this connection will be placed at the meeting of the Cabinet Committee on Public Purchase today.
The Bridges Division sources said the development project proposal for the 24km expressway from Dhaka airport to Ashulia was approved by the Executive Committee of the National Economic Council (Ecnec) last month.
Once completed, the expressway will connect Dhaka airport to Abdullahpur, Ashulia, DEPZ and Chandra on the North Bengal Highway. It will be an extension of the 26km Dhaka elevated expressway, linking the airport to the Dhaka-Chittagong Highway near Shanir Akhra.
Bridges Division Secretary Khandker Anwarul Islam told the Dhaka Tribune that the construction work of the Dhaka-Ashulia Elevated Expressway will start as per plan.
According to the project document, the project works will begin this year and finish in June 2022.
The total cost of elevated expressway now stands at Tk17,019.18 crore. A total of 37 hectares of land will be acquired for the construction of the Dhaka-Ashulia Elevated Expressway. The rehabilitation of the affected people will cost about Tk2,000 crore.
China will finance 65% of the Tk16,901 crore project. Chinese Exim bank will provide a loan of Tk10,094.89 crore at an annual 4% interest rate, according to the proposal.
The Planning Ministry has already allocated Tk3,818 crore for the project under the 2017-2018 fiscal year.
Bangladesh University of Engineering and Technology conducted a pre-feasibility study in 2013 and a detailed feasibility study in 2016.
According to the reports submitted, the expressway will help ease traffic congestion and allow trucks to move across the capital throughout the day. Trucks are now barred from entering the city from 8am to 8pm to avoid tailbacks.