Padma bridge project cost increased by Tk 1,117cr

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News Desk :
Cost of the main bridge of the Padma Multipurpose Bridge project has been increased further by Tk 1,117.97 crore.

The Cabinet Committee on Government Purchase in a meeting approved a proposal of the Bridges Division in this regard on Thursday.

Finance Minister AHM Mustafa Kamal presided over the meeting held virtually, reports UNB.

“With the increase, the construction cost of the main bridge will go up to Tk 13,658.99 crore which will be paid to the Chinese contractor China Railway Major Bridge Engineering Ltd,” said Mahmudul Hossain, additional secretary of the Cabinet Division, while briefing reporter about the outcome of the meeting. According to the sources, the total cost of the Padma Multipurpose Bridge project was set at Tk 30,193 crore is scheduled to be completed in June 2023.

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But recently, the Executive Committee of the National Economic Council (ECNEC) has approved the escalated cost which will go up to Tk 32,605 crore and extend the timeframe of the project till June 2024.

The bridge was officially inaugurated by Prime Minister Sheikh Hasina on June 25, 2022 and opened for traffic movement from the next day.

The government recently increased the value added tax on the payment of contractors from 10.5 per cent to 15 per cent.