The construction of a 5 km rail line from Dhaka to Padma Bridge has been completed. Although there are some work left in various infrastructure, regular commercial trains are running on this route. However, China's Exim Bank, who financing the project, did not discount the loan money in the last phase, has complicated the contractor's bill.
Project sources said that the contractor has paid about Tk 8,212 crore from February 2021 for not exempting the loan money in China. The project authority has been urging the bank since last year to release money. The project authority with Axim Bank three to four times in this regard, but the resolution has not been resolved, the loan money has not been deducted.
Sources in the Ministry of Railways said that representatives of the Economic Relations Department (ERD), April 5, Axim Bank of China, Railway Ministry, Bangladesh Railway and Construction Supervision Consultant (CSC) met. At that meeting, it was decided to send a letter to the bank from the ERD asking the reason for not discounting the loan money. At the same time, the letter will also be asked to send a report to the bank's delegation on October 2321.
Project sources said that the loan of the Padma Bridge Rail connection project is till September 7 this year. During this period, all the work has to be finished and pay the bill, otherwise the complexity will be created. The contractor may stop working if the financier does not discount the loan money. It may increase the complications. Besides, if the bank does not pay the money in the last time, the government of Bangladesh will have to do the rest of their money. It will bring amendments to the project again. However, the implementation of the project is till June 2021.
Sources in Bangladesh Railway say that several issues were added to the broken junction in 2022. In this case, it costs Tk 1 crore more than the expenditure shown in the contract. Because of this, it is heard that Axim Bank is not offering loan money.
The project's March Progress Report says the overall progress of the project's work is 5.7 percent and economic progress has been 5.7 percent.
According to the findings, work is currently underway in three places of the project. Of these, about 5 percent of the construction of the underpass in TTPara in Kamalapur in the capital was completed. About 5 percent of the broken junction construction work and 12 percent of the Central Traffic Control (CTC) system was completed.
Asked about the overall project of the project, the Director General of Bangladesh Railway said. Afzal Hossain told today's newspaper, “The project is almost over. The railway has been launched, the train is also running. Now if the financing company does not give money, the contractor will face more problems than us. It is the Jituji project, financing and contractor – China. As a result, there is no reason not to get money. We have contacted the Exim Bank of China, they will discount some money. ' He said that some finish work is currently underway at the end of the project, it will not be too much of a problem. If the financing company does not give the money, the contractor goes away, the rest of the work can be done with the money of the Bangladesh government.
A section of the project was launched in 2021. The train from Dhaka to Jessore was opened in full swing in December 2021. Now the train can go from Dhaka to Khulna in four and a half hours. The new railway will be able to operate 5 passengers and freight trains every day. But now there are 5 passenger trains.
The total cost of this project was estimated at Tk. However, in the Second Amendment, the cost of Tk 120 crore has been reduced to Tk 8,220 crore. According to the final bill after the construction of the project, Tk. 222 crore has been saved.
Asked whether the cost of the project would be further reduced, the Director General of the Railway said that some money was kept in different fields of the project. If those things are not done, the cost will be somewhat reduced. However, how much will be reduced, it cannot be said now.
The project is being implemented between China and Bangladesh in a jituji system. The contractor for this project is the China Railway Group. China's Exim Bank is lending around Tk 25 thousand 5 crore in the project. The rest is spent from the revenue sector of the Government of Bangladesh.
Communication expert and Professor of Civil Engineering Department of Bangladesh Engineering University (BUET). Hadiuzzaman told today's newspaper, “If any conditions are in conflict, Exim Bank can stop the installment in its power. In that case, we should agree on the terms of financial agreements with the big organization. If the project is damaged due to financial complications, the project return will also be damaged. As a result, there are questions about how much we understand. It is important to remember that those who are financing are not grants, but also with loan but interest. '
