Star Business Report

The cabinet committee on purchase yesterday awarded two Chinese joint venture companies a public private partnership project on upgrading the Rampura-Amulia-Demra highway into four lanes for Tk 2,094 crore.

The two -- Consortium of China Communications Construction Company Ltd and China Road and Bridge Corporation -- obtained the approval as investors.

The Roads and Highways Department under Road Transport and Highways Division will supervise the project.

Chairing the meeting, Finance Minister AHM Mustafa Kamal said the joint ventures would also maintain the highway for 25 years.

The committee also decided to import 60,000 tonnes of urea fertiliser from Saudi Basic Industries Corporation in two lots at higher than previous rates as prices have soared in international markets, said Shamsul Arefin, additional secretary to the cabinet division.

The first 30,000 tonnes will cost Tk 206.31 crore at $778 per tonne, up $56 per tonne.

The second lot will cost Tk 200.31 crore at $802 per tonne, up $44 per tonne.

The government will also source 30,000 tonnes of granular urea fertiliser from the Karnaphuli Fertilizer Company Limited for Tk 198.72 crore. The rate is $767 per tonne, down $11 per tonne from a previous rate.

The meeting also decided not to construct a flyover from Shantinagar to Jhilmil on the Dhaka-Mawa road, something which has been under consideration for nearly 15 years.

The minister, in a briefing afterwards, said as per the current situation, there was no need to build such a flyover as the infrastructures on the Dhaka-Mawa highway have already been improved a lot.

However, if the ministry concerned wants to do something else regarding this, it can conduct a study on it, Kamal said.

Besides, eight proposals were raised in the meeting for approval.

Of the financing meant for those, Tk 167,79,54,900 will be spent from government funds and Tk 982,38,08,793 from local banks, World Bank, Asian Development Bank and the Saudi Fund for Development.