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The Project Evaluation Committee (PEC) of the Planning Commission (PC) has approved two new metro-rail projects at a combined cost of Tk 931.62 billion, officials said.
Presided over by the PC Member Shamima Nargis, the PEC has given green signal to the MRT line-1 and MRT line-2 projects recommending some changes, they said.
The Dhaka Mass Transit Company Limited (DMTCL) will build the proposed MRT line-1 from Airport to Kamlapur and the MRT line-5 from Hemayetpur to Vatara.
"We've endorsed the two projects at a meeting last week suggesting changes in some components of the Development Project Proposals (DPPs)," a committee member told the FE.
"When the implementing agency will recast the DPP and send it to the PC, we will place it before the ECNEC (Executive Committee of the National Economic Council) for the final approval," he added.
Earlier in the month, the DMTCL had sought approval for two separate project proposals for building the 31km MRT-1 at a cost of Tk 519 billion and the 20km MRT-5 at Tk 412.61 billion.
DMTCL officials said the Japan International Cooperation Agency (JICA) has assured the government of bankrolling both the projects.
"We have already discussed with the JICA. The donor has agreed to finance the projects. Upon approval of the projects, we will sign loan agreements with the Japanese donor," said a DMTC official.
According to the DMTCL, the JICA has proposed providing Tk 339.14 billion in loan for the MRT 1 while the remaining Tk 179.86 billion will come from the Bangladesh government from its internal resources.
For the proposed Tk 412.61 billion MRT line-5, the JICA is expected to lend Tk 307.56 billion while the Bangladesh government will provide remaining Tk 105.05 billion from its internal resources.
Currently, the government is building its first elevated 20km metro-rail line (MRT-6) from Uttara to Motijheel, which is supposed to be inaugurated by 2021.
But fear has deepened that the project is unlikely to meet the deadline given the slow pace of work.
The main part of MRT-1 (16.215km) from Hazrat Shahjalal Airport to Kamlapur will be constructed underground while the residual part (11.369km) from Notun Bazar to Purbachal will be built as elevated ones.
Besides, a part of the MRT-5 Northern Route (6.50km) from Hemayetpur to Aminbazar will be built as an elevated one and the remaining (13.50km) Aminbazar to Vatara will be constructed as the underground one.
The MRT-1 construction is scheduled to be completed in 2026 and the MRT-5 will be completed in 2028.
A senior DMTCL official said they have already picked a consulting firm for preparing the detailed design, tender documents and supervising the construction work of the MRT-5 as the JICA has already conformed funds to complete the work.
The feasibility report said the MRT line-5 Northern Route will carry 1.23 million passengers daily from Hemayetpur to Vatara.
Besides, the MRT line-1 will transport some 1.16 million passengers a day.