The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved two mega MRT projects -- Dhaka Mass Rapid Transit Development Project (Line-1) and Dhaka Mass Rapid Transit Development Project (Line-5: Northern Route)—involving Tk 940 billion (94,000 crore), aiming to radically improving the capital’s transport sector.
The approval came from the weekly ECNEC meeting held with ECNEC Chairperson and Prime Minister in the chair at the NEC conference room.
The meeting also cleared eight other projects, including four revised ones, UNB reported.
“Today (Tuesday), the ECNEC meeting approved a total of 10 projects involving the estimated cost of Tk 1000.25 billion (100,025.23 crore),” said Planning Minister MA Mannan while briefing reporters after the meeting.
Of the total cost, Tk 304.66 billion (30,466.2 crore) will be borne by the national exchequer, while Tk 690.43 billion (69,043.37 crore) will come as project assistance from foreign sources –-JICA and ADB—and the rest Tk 5.16 billion (515.84 crore) from the owned funds of the agency concerned, he said.
About two mega projects, the Planning Minister said the Dhaka Mass Rapid Transit Development Project will be implemented on Biman Bandar-Kamalapur route and Natun Bazar-Purbachal Depot from September 2019 to December 2026.
The Dhaka Mass Rapid Transit Development Project will be implemented on Hemayetpur-Aminbazar-Gabtoli-Mirpur-Kachukhet-Banani-Gulshan-2-Natunbazar-Bhatara route from July 2019 to December 2028.
The Japan International Cooperation Agency (JICA) will finance Tk 685.67 billion (68,567.37 crore) to the two mega projects.
Of the amount, JICA will provide Tk 394.50 billion (39450.32 crore) for the Dhaka Mass Rapid Development Project and Tk 291.17 billion (29,117.05 crore) for Dhaka Mass Rapid Transit Project.