Finance
Padma Bridge The cost of Padma Bridge is increasing by another Tk 1118 crore
Dhaka, June 22: The government has decided to increase the cost of the Padma Multipurpose Bridge by Tk 1,117 crore 97 lakh 90 thousand 580 after one year of its inauguration and traffic. The Cabinet Committee on Public Procurement has approved this increase in expenditure. The meeting of the committee was held on Thursday, June 22 under the chairmanship of Finance Minister AHM Mustafa Kamal.
At the end of the meeting, Cabinet Secretary (Coordination and Reforms). Mahmudul Hossain Khan said, Bangladesh Bridge Authority under the bridge department has approved the purchase proposal for an additional 1,117 crore 97 lakh 90 thousand 580 taka for the variation of the main bridge construction work of the 'Padma Multipurpose Bridge Construction (Third Revised)' project.
In 2007, the Padma Bridge project was taken up. At that time the expenditure was estimated at 10 thousand 161 crore 75 lakh taka. Later in 2009, it was increased to Tk 20 thousand 507 crore in the first amendment. Then in December 2018, the second amendment came at a cost of 28 thousand 793 crores. Another round of expenditure called the last special amendment increased it to 30 thousand 193 crores. Now the cost of Padma Bridge has been increased again.
The pre-feasibility study of Padma Bridge was conducted in 1998-99 with the funding of the Government of Bangladesh. Japan's government development agency JICA completed a self-funded feasibility study in 2003-05. Then in 2006, land acquisition, rehabilitation and environmental management were planned with the funding of Bangladesh government. Detailed design was prepared during 2009-11.
New Zealand-based firm Moncell Acom designed the entire bridge. Land acquisition process started. It is funded by ADB and Bangladesh government.
In June 2012, the World Bank canceled their loan. In July of the same year, the Bangladesh government decided to build the Padma Bridge with its own funding.
