Reliable Brokers
Online Investing
Alerts & Analysis
Easy Trading

Cabinet approves import of 70 locomotives from South Korea

Hyundai Rotem Company has won the contract to supply the locomotives at a cost of Tk2,679 crore

Update : 18 May 2018, 01:27 AM

The Cabinet Committee on Public Purchase on Wednesday approved a total of 10 procurement proposals, including one to import 70 metre-gauge diesel electric locomotives from South Korea.

The committee gave the approval at a meeting held with Finance Minister AMA Muhith in the chair.

Hyundai Rotem Company of Korea won the contract to supply the locomotives at a cost of Tk2,679 crore under the tender finance system.

Bangladesh Railway signed the deal with Hyundai Rotem Company of South Korea at Rail Bhaban in the presence of Railways Minister Mujibul Haque.

KW Ang Kyun Yoon, director of Hyundai Rotem Company, and Additional Director General of Bangladesh Railway Md Shamsuzzaman signed the agreement on behalf of their respective sides.

Minister Mujibul Haque said that the locomotives will be purchased within 24 months, while a deal will be signed to purchase 20 more.

A total 80 railway stations will be reopened within several months. Already, 60 stations which were shut during the tenure of the BNP government have been reopened, said the minister.

Two separate proposals to import petroleum oil from the Energy Division received the nod of the Cabinet body.

As per the proposals, Bangladesh Petroleum Corporation (BPC) will import diesel worth Tk1,041 crore from PT Bumi Siak Pusako Zapin of Indonesia to meet the extra demand during the current irrigation season.

The BPC also received approval to import additional diesel from Unipec Singapore Pte Ltd worth Tk983.32 crore. This bulk import from the company will come as an addition to the previously approved supply under open tender.

The Cabinet Committee also approved a proposal from the Primary and Mass Education Ministry to import 36,746 multimedia projects at a cost of Tk185.99 crore under the third primary school development programme.

Furthermore, it approved a tender proposal of the Power Division to import pre-paid metres worth Tk304.7 crore.

Two more proposals from the Power Division, for the import of eight 33/11 kV substations for rural electrification, also received the approval of the committee.

Top Brokers