• Tuesday, Nov 29, 2022
  • Last Update : 09:54 am

$300m loan deal for Chittagong-Cox's Bazar railway on June 21

  • Published at 02:16 pm June 17th, 2017
$300m loan deal for Chittagong-Cox's Bazar railway on June 21
The government will sign two separate loan agreements on June 21 for the construction of a railway line, according to a BSS report. "Two contracts, worth $300 million, will be signed between the Bangladesh government and Asian Development Bank (ADB) at Sher-e-Bangla Nagar for the Chittagong-Cox's Bazar Railway Project, Phase-1-Tranche-1, under the South Asia Sub-regional Economic Cooperation (SASEC) programme," an Economic Relations Division (ERD) official told BSS on Saturday. The objective of the project is to construct the 100km single-line dual-gauge railway track from Chittagong to Cox's Bazar via Ramu to Gundam in Myanmar, the official said. He said ERD Acting Secretary Kazi Shafiqul Azam and ADB Country Director Kazuhiko Higuchi would sign the deal on behalf of their respective sides. According to the project, rail connectivity will boost tourism as Dhaka passengers will be able to reach the coastal resort city in a mere six hours – four hours faster than the quickest road route. The line will begin at Chittagong’s Dohazari village and extend south to Xilongxa of Cox's Bazar through the Chandanaish, Satkania and Lohagara upazilas of Chittagong and the Chakaria, Cox's Bazar Sadar, Ramu and Ukhia upazilas of Cox's Bazar. The new route, marked as a fast-track project, will also form part of the Trans-Asian Railway (TAR) route to connect Bangladesh to its regional neighbours, including China, Myanmar and Thailand. The Economic and Social Commission for Asia and the Pacific (ESCAP) introduced the Trans Asian Railway Network to improve communication among Asian and European countries. The southern corridor of the TAR is one of three Asia-Europe rail land bridges studied by ESCAP as part of the Asian Land Transport Infrastructure Development project, endorsed by the 48th ESCAP Commission Session in Beijing in April 1992. Bangladesh will link up through the Southern Corridor of TAR.
Also Read- Chittagong-Cox’s Bazar rail route construction to begin in August
The project was supposed to be implemented at a cost of Tk18,034cr, of which the ADB approved around Tk12,000cr in September 2016 after completion of a feasibility study. It was approved in April 2016, with the aim of connecting Dhaka and Cox’s Bazar directly and including further connectivity between Bangladesh and Myanmar through the Gundam border. The dual gauge track, expected to be completed by 2022, has only been implemented 2.2%.
50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail