Metro - Bangladesh Business News

Chinese cos signs PPP deal with Bangladesh for Dhaka Bypass

BBN Desk — Thu, 03 Jan 2019 04:26:03 +0000

Dhaka, Bangladesh (BBN) - A consortium of companies from China has signed a concession contract with Bangladesh government to upgrade the Dhaka Bypass under a public-private partnership (PPP) arrangement.

The Asian Development Bank (ADB) acted as financial advisor on the transaction to the Public–Private Partnership Authority (PPPA) of Bangladesh.

The companies are Sichuan Road and Bridge Group, Shamim Enterprise Ltd., and UDC Construction Limited included in the consortium.

“This project brings a new dimension to public service delivery in Bangladesh. It is the first access-controlled expressway in the country,” said Chief Executive Officer of PPPA Syed Afsor H. Uddin. “This landmark transaction will pave the way for a pipeline of national expressways across Bangladesh.”

“ADB aims to accelerate road development in Bangladesh while minimizing the financing and operational burden and bringing in a diverse set of internationally renowned infrastructure developers, operators, and financial institutions,” said the Head of ADB’s Office of Public–Private Partnership (OPPP) Yoji Morishita.

“The Government of Bangladesh establishes the objectives of the infrastructure as well as some credit supports to tackle the traffic challenge, while the private sector takes responsibility for meeting the objectives. The Dhaka Bypass is the first step in our strategy to bring Bangladesh roads to the global market based on the PPP model.”

Under the contract signed with the Ministry of Roads and Bridges, a four-lane tollway and a two-lane service road will be added to the Joydevpur–Debogram–Bhulta–Madanpur Road (N-105) section of the expressway.

The 48-kilometer (km) project will provide a major arterial connection between the industrial zone northeast of Dhaka and national highway N1 connecting to the port city of Chattogram, as well as to N2, N3, and N4 highways leading to other major cities.

The consortium will design, build, finance, operate, and maintain the tolled expressway over a 25-year concession period, and will be able to charge tolls based on vehicle type.

The Government of Bangladesh will offer viability gap funding of 3.1 billion taka and a minimum revenue guarantee to the consortium to optimize the cost of financing.

The contract also provides the government with a share of revenues generated by the consortium over a certain threshold.

The ADB has been working with the Government of Bangladesh for over 5 years to transform the country’s roads by making them a bankable asset class attractive to international investors, as has happened in other sectors such as the independent power producer sector.

BBN/SSR/AD

ADB provides $275m loan for upgrading water supply in Dhaka

BBN Desk — Mon, 18 Jul 2016 02:33:36 +0000

Dhaka, Bangladesh (BBN)- The Asian Development Bank (ADB) and the Government of Bangladesh has signed $275 million loan agreements for further improving and expanding water supply system in Dhaka.
Mohammad Mejbahuddin, Senior Secretary, Economic Relations Division (ERD), and Kazuhiko Higuchi, Country Director, Bangladesh Resident Mission of ADB, signed the agreements on behalf of Bangladesh and ADB respectively, at a ceremony at ERD, Sher-e-Bangla Nagar, Dhaka on Sunday.
“Dhaka city is expanding fast, and demand for safe drinking water is rising rapidly,” said Country Director Kazuhiko Higuchi. “This project will help over 7 million people in Dhaka get access to safe, regular, and affordable water services”.
Earlier, ADB provided DWASA with $400 million for improving water supply system in Dhaka but physical water losses still needs to be reduced to further improve service delivery in many areas.
The new ADB assistance under the Dhaka Water Supply Network Improvement Project will be used to rehabilitate water distribution pipelines and set up new district metered areas, with about 5,000 new and legalized connections established in low income communities, and 229,000 connections upgraded for households and communities.
The new project is targeting 24-hour piped water supplies to an additional 6.5 million people in the new district metered areas by 2022, with nonrevenue water losses cut to below 10 per cent from the current approximate rate of around 30 per cent.
A range of actions will be taken to boost the capacity of staff to manage and operate the network effectively, including providing training for around 700 staff, with 30 per cent of them women.
Assistance will also be given to help DWASA prepare an operational and financial improvement plan and to increase public awareness on water conservation.
Dhaka’s demand for water is projected to rise from 2,144 million liters a day in 2015 to around 2,616 million liters a day in 2020, and although the supply authority is taking steps to expand capacity with ADB’s help, it will not be enough to meet projected needs without a substantial cut in ongoing losses.
Climate change, including rising sea levels that could increase salinization of ground and surface water, is also expected to reduce available potable water.
BBN/SSR/AD

City dwellers returning to Bangladesh's capital after Eid vacation

BBN Desk — Sat, 09 Jul 2016 18:42:43 +0000

Dhaka, Bangladesh (BBN) - The city dwellers started returning to the capital Dhaka on Saturday after celebrating Eid- ul- Fitr festival with their near and dear ones in their respective villages.
The nine-day Eid vacation that started from July 1 ended on July 9, heralding return of usual hectic city life.
Thousands of people returning to the capital with a happy mood after celebrating one of the biggest Muslim religious festivals using Kamalapur Railway Station, river port at Sadarghat, Gabtali, Mohakhali and Sayedabad bus terminals.
They, however, expressed concern over the terrorist attacks on a café at Gulshan in the capital and the country's biggest Eid congregation at Solakia in Kishoreganj.
Most of the holidaymakers said they had to pay extra money to transports for their return to the capital.
Some of them said that they have returned to the capital to avoid last-moment hassles and to attend their respective offices from Sunday.

BBN/SSR/AD

ADB helps Bangladesh to cut traffic congestion in Dhaka

BBN Desk — Fri, 01 Jul 2016 06:46:48 +0000

Dhaka, Bangladesh (BBN)- The Asian Development Bank (ADB) and the Bangladesh Public–Private Partnership Authority on Thursday signed a transaction advisory services agreement to expand road connectivity.
The deal will pave the way for a public-private partnership project (PPP) to prepare and develop a major access road to boost connectivity and cut traffic congestion in central Dhaka.
The Rampura-Amulia-Demra PPP road will provide much needed and improved connectivity between the highways from Chittagong and Sylhet, and central Dhaka.
The project also complements ADB’s existing support to Bangladesh’s Roads and Highways Department for inter-city road connectivity under the South Asia Subregional Economic Cooperation Project.
The PPP project will develop a four-lane 13.5-km access controlled road. As part of its advisory mandate, ADB will carry out a feasibility study for the $200 million project, develop a bankable PPP structure, and organize a competitive tender process to select a suitable private sector partner.
A transparent competitive tender process is expected to deliver the best value for the construction, operation, and maintenance of the road, and will help in developing a template for PPP roads in Bangladesh.
ADB has been a long serving supporter of Bangladesh’s PPP program, including providing technical assistance that helped pave the way for the passage of the country’s PPP law in September 2015, and in the preparation of PPP projects.
“We are highly encouraged by the progress made by the Government of Bangladesh and its PPP Authority and we are excited to expand our support through this transaction advisory services agreement which will help structure viable and bankable PPP projects,” said Ryuichi Kaga, Head of ADB’s Office of Public–Private Partnership (OPPP).
In September 2014, ADB established the OPPP to provide independent transaction advice on specific deals and to develop broader PPP knowledge in the region.

BBN/SSR/AD

11 held for attempting to forge BDT 80cr FDR money at Brac Bank

BBN Desk — Sun, 08 Mar 2015 13:53:11 +0000

Dhaka, Bangladesh (BBN)-Police arrested 11 persons Sunday afternoon when they attempted to withdraw BDT 80 crore with fake documents from the Gulshan branch of Brac Bank.
“The persons showing a forged power of attorney papers were trying to withdrawn Fixed Deposit Return (FDR) amount which is belong to Saiful Islam, an expatriate,” an official of the bank told the BBN seeking anonymity as he was not authorised to speak.
On suspicion that the power of attorney papers are fake, the officials of the bank informed police, he added.
Rafiqul Islam, officer-in-charge of Gulshan Police Station, confirmed the forgery attempt to the BBN.
On information from the Gulshan branch of the Brac Bank, police rushed to the spot and arrested the persons, the police officer said.
BBN/AI/AD-08Mar15-6:00pm (BST)

Early exposure 'cuts peanut allergy'

BBN Desk — Tue, 24 Feb 2015 06:06:42 +0000

London (BBN)-Eating peanut products as a baby dramatically cuts the risk of allergy, a study reported in the New England Journal of Medicine suggests.
Trials on 628 babies prone to developing peanut allergy found the risk was cut by over 80%, reports BBC.
The King's College London researchers said it was the "first time" that allergy development had been reduced.
But specialists warned at-risk families should not experiment with peanut products without medical advice.
DAILY NUT
The research team in London had previously found that Jewish children in Israel who started eating peanuts earlier in life had allergy levels 10 times lower than their equivalents in the UK.
The trial focused on babies as young as four months who had already developed eczema - an early warning sign of allergies.
Skin-prick tests were used to identify those who had not yet developed peanut allergy or had only a very mild response.
Children under five should not eat whole peanuts, because of the risk of choking, so half were given a peanut-based snack.
The other half continued avoiding peanuts.
The trial indicated that for every 100 children, 14 would normally go on to develop an allergy by the age of five.
But this fell by 86% to just two out of every 100 children with the therapy.
Even the children who were already becoming sensitive to peanuts benefited. Their allergy rates fell from 35% to 11%.
Lead researcher Prof Gideon Lack told the BBC: "[It was] exciting to us to realise for the first time that in allergy, we can actually truly prevent the development of disease.
"It represents a real shift in culture."
He said that high-risk children "need to be evaluated, have skin-prick testing and dietary advice, [before], in most cases, early introduction of peanut".
Prof Lack added: "We realise this goes very much contrary to previous advice, but it is very much essential that we direct our attention to this group of infants and stem this growing epidemic of peanut allergy."
Until 2008, at-risk families were told to actively avoid peanut products and other sources of allergic reactions.
BBN/SK/AD-24feb15-12:00pm (BBN)

4 bullet-hit bodies found in Dhaka

BBN Desk — Mon, 23 Feb 2015 02:28:42 +0000

Dhaka, Bangladesh (BBN)-Police have recovered four bullet-riddled bodies from Mirpur area of Dhaka, the capital of Bangladesh.
Law enforcers suspected that the deceased had a link with the terrorist activities that hit the country since January 5.
Locals caught three unidentified persons on suspicion of ‘arsonists’ in Kazipara and gave them a good beating, police said.
On information, police went to Kazipara Bus Stand area around 9:00pm Sunday and found three persons lying on the ground, Masud Parvez, a sub-inspector of Mirpur Model Police Station, told reporters early Monday.
Parvez also claimed that locals caught the deceased with petrol bombs.
Of the three, two died on the spot while another at the Dhaka Medical College Hospital.
In another incident, police rushed to Darussalam area of Mirpur around 1:30am Monday on information that firing was going on there.
After reaching the spot, police found a body lying on the ground, said Zahirul Islam, another sub-inspector of Mirpur Model Police Station.
He claimed that several petrol bomb and handmade bombs were also recovered the possession of the deceased.
All the bodies were kept at the hospital morgue.

So far, nearly 75 people mostly innocent were killed in blockade and strike related violence including arson attacks in Bangladesh.

The non-stop blocked of roads, rail and waterways is going on alongside frequent general strike in Bangaldesh since January 5, the first anniversary of the 10th national election.

BNP-led 20-party alliance has been enforcing the political programmes demanding a fresh general election.
BBN/ASI/AD-23Feb15-9:50am (BST)

2 ‘arsonists’ killed in ‘gunfight’ with Rab in Bangladesh

BBN Desk — Wed, 04 Feb 2015 05:11:09 +0000

Dhaka, Bangladesh (BBN)-Two alleged arsonists were killed in a so-called gunfight with the members of Rapid Action Battalion in Dhaka, the capital of Bangladesh, early Wednesday.

The gunfight initiated when the members of the elite force popularly known as Rab came under firing and petrol bomb attack around 2:30am at Matuail in Jatrabari of Dhaka, Major Rumman Mahmud, the deputy director of Rab’s media wing, told the BBN.
The ‘gunfight’ took place when Bangladesh is facing the worst consequences of the petrol bomb attacks, a new strategy to keep citizens off the roads, during the non-stop blockade along with frequent strike that has begun from January 5.
So far 50 people were killed and several hundred including law enforcers injured in the blockade and strike violence including petrol bomb attacks in the country since the beginning of the non-stop blockade sponsored by the BNP-led 20-party alliance.
The identities of the deceased, aged between 30 and 35, could not be known immediately.
Miscreants hurled brick chips on a pick-up van of Rab when the team was patrolling in Matuail area of Jatrabari, said the Rab official describing the ‘gunfight’.
When the driver of the pick-up slowed down the vehicle, the miscreants hurled a petrol bomb and fired several rounds of bullets targeting the Rab personnel, triggering a ‘gunfight’, the major said.
After the ‘gunfight’, Rab found two men lying on the ground.
The Rab men whisked the injured off to Dhaka Medical College and Hospital where doctors declared them dead around 3:00am, the Rab official said.
The elite force found a pistol, a revolver, eight handmade bombs and three petrol bombs from the scene, Major Mahmud said.
The seats of the Rab vehicle which came under petrol bomb attack were gutted in the incident, he added.
And the door of the vehicle also got scratches as bullet fired by the ‘arsonists’ hit it, he said.
BBN/SS/AD-4Feb15-10:30am (BST)

BRTC AC buses hit capital streets Saturday

BBN Desk — Sat, 13 Jul 2013 06:09:25 +0000

Dhaka, Bangladesh (BBN)- The newly-procured Air-conditioned buses of Bangladesh Road Transport Corporation (BRTC) will be launched on different routes in the capital Dhaka on Saturday.

Communications Minister Obaidul Quader will inaugurate the new BRTC AC bus service at Farmgate in the afternoon after handing over the key of a BRTC bus to Prime Minister Sheikh Hasina in the morning.

The state-run BRTC imported 88 AC buses from India under the US $ 1.0 billion Indian line of credit (LoC).

Each of the 40-seated AC buses measures 11.5 metres in length, 2.6 metres in width and also has 25 metres of ground clearance as required on a long distance route. Each of the AC buses costs $ 56,500.

BBN/SSR/AD-13July13-12:10 pm (BST)

Tax fair begins in Chittagong September 17

BBN Desk — Mon, 12 Sep 2011 19:04:45 +0000

Chittagong, Bangladesh (BBN) - A six-day income tax fair is scheduled to start on September 17 in Chittagong aiming to strengthen tax receipts and bring more people under the tax net, officials said on Monday.

Primary and Mass Education Minister Afsarul Amin is expected to inaugurate the fair at MA Aziz Stadium in the port city.

The National Board of Revenue (NBR) is going to organise the fair as part of an awareness campaign in all divisional cities. The fair emphasises awareness about the importance of income tax payment.

The fair will offer taxpayers suggestions about obtaining TIN certificates and income tax payments while officials will help the payers fill out the forms of income tax returns.

BBN/SSR/AD-13Sept11-1:05 am (BST)