CHATTOGRAM, July 10: The construction works of much expected Kalurghat Bridge are likely to begin at the end of the current year.
The Development of Project proposal (DPP) of Taka nearly 12,000 crore is expected to be approved by the Executive Committee of National Economic Council (ECNEC) during the current month.
Meanwhile, the process for construction of the bridge has progressed with the signing of a loan agreement with Export-Import Bank of Korea (EXIM). The EXIM Chairman and CEO Hee-sung Yoon signed a loan agreement with the Secretary, Economic Relations Division of the Ministry of Finance Md Shahriar Kader Siddiky at the Economic Relations Division office on June 27 last.
The rail-road bridge over the Karnaphuli River will serve as the sole dual-purpose bridge between Chattogram Port and industrial zone upon completion. This is expected to significantly reduce logistics costs, revitalize trade, and consequently contribute substantially to Bangladeshs economic growth.
With a total project cost of $1.24 billion, the project will receive $0.43 billion in funding from the Bangladeshi government, with the remaining $0.81 billion provided by EDCF and EDPF of South Korea.
Notably, this project marks the largest-ever (EDCF) supported endeavour and the first instance of combined financing from Economic Development Cooperation Fund (EDCF) and Economic Development Cooperation Fund (EDPF) in Bangladesh.
EXIM has recently signed a $0.81 billion loan agreement for the construction of a rail-road bridge across the river Karnaphuli at Kalurghat point.
Meanwhile, Bangladesh Railway sources said, the appointed Korean Consultant Yooshin Engineering Corporation has already completed the DPP. The same consultant also submitted the feasibility study report to the Bangladesh Railway earlier.
The sources said, the Consultant of Korean Company Yooshin Engineering Corporation began the feasibilty study in December in 2021. According to the DPP, the construction of the bridge was supposed to begin from January last which will be concluded on June 2028 next, Railway sources said.
The demand for the construction of Kalurghat Bridge over the Karnaphuli River has been going on for many years. People used to cross the river through a dilapidated nine-decade-old bridge. As the bridge is under renovation for the last six months, they have to cross the river by ferries.
