Bangladesh: China-funded project seeks third extension

DHAKA, 09 May 2022, (TON): Planning ministry officials have said “the cost of an infrastructural project being implemented largely with a Chinese loan to ease fuel oils storage and transportation is likely to be revised for the third time.”

The state-owned Eastern Refinery Limited took the ‘Installation of Single Point Mooring with Double Pipe Line’ project in Cox’sBazar in November 2015 at a cost of Tk 4,935.96 crore.

The project was scheduled to be completed in December 2018.

Of the project cost, the Exim Bank of China agreed to give a loan worth Tk 3,903.22 crore and the rest of Tk 1032.7 crore was to be collected from local sources.

A loan deal between Bangladesh and China was signed only in 2017.

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