Financial close for the major road PPP in Bangladesh
First Dhaka Elevated Expressway Company, Ltd. (FDEE), a project company owned by China Shandong International Economic & Technical Cooperation Group Ltd (CSI), Sinohydro Cooperation and Italian-Thai Development Public Company Limited (ITD) has reached financial close for the Dhaka Elevated Expressway Public-Private Partnership (PPP) project in the capital of Bangladesh.
The financial close was reached at the end of February. FDEE signed a facility agreement with the Export-Import Bank of China and the Industrial and Commercial Bank of China (ICBC) for financing the project in April 2019. China EXIM Bank will finance US$ 461 million and ICBC will provide US$ 400 million to implement the project. The government has also disbursed its committed funds, called viability gap funding (VGF) for the project.
The population of Dhaka is increasing rapidly, and the transport sector needs to expand to meet this rapid growth. The huge number of growth in transport is resulting in high levels of traffic congestion and operational difficulties. In order to minimize the acute traffic congestion, Bangladesh Bridge Authority (Government of Bangladesh) intends to deliver a project for the construction of approximately 23 km of Elevated Expressway in the northern part of Dhaka.
The project includes design, construction, operation, and maintenance of a four-lane Elevated Expressway that will commence at Shahjalal International Airport and run alongside New Airport Road, with the rail alignment through the Mohakhali, Tejgaon, and Moghbazar to Kamalapur Railway-station and then the alignment crossing over Jatrabari before connecting to Dhaka Chittagong Highway. The scope of works includes the construction of culverts, toll plazas, underpass and overpass, lay byes, wayside amenities; installation of a computerized toll collection system, providing adequate lights and development of service areas with all required facilities.
The project is planned to be completed by 2022 and it will be the first big infrastructure project under PPP initiative in Bangladesh.
Country news
-
-
May 22, 2018
Suez and Veolia win US$325 million BOT water contract in Dhaka
The Dhaka Water Supply & Sewerage Authority (WASA) has awarded SUEZ and Veolia the contract to build and operate a drinking water production plant in Gandharbpur, Bangladesh, after an international call for tender.
Read more -
December 27, 2017
Tender launched for hospital and medical school in Bangladesh
The Public Private Partnership Authority of Bangladesh has launched a tender on behalf of Bangladesh Railway for a DBFOT contract regarding a hospital and medical school in Chittagong.
Read more -
August 28, 2017
Sembcorp reaches FC on a gas-fired power PPP
Sembcorp has announced the financial close on the Sirajganj greenfield gas-fired power PPP project in Bangladesh.
Read more -
July 20, 2017
ADB approves US$526 MM to finance Bangladesh PPPs
The Asian Development Bank (ADB) has approved a US$526 million multitranche financing facility (MFF) to help sustain and increase infrastructure investments in Bangladesh, particularly in financing public-private partnership (PPP) projects as well as renewable energy interventions.
Read more -
July 06, 2017
RFQ for Bangladeshi port PPP
Chittagong Port Authority (CPA), under Ministry of Shipping, Government of the People's Republic of Bangladesh, intends to develop a terminal through PPP model.
Read more
