Dhaka, Bangladesh (BBN) – The Malaysian government has offered an investment proposal worth US$2.3 billion to implement the Padma Bridge project in Bangladesh.
Malaysian Prime Minister’s Special Envoy to India and South Asia Datuk Seri S Samy Vellu conveyed the offer at a press conference at Ruposhi Bangla Hotel in the capital Dhaka on Friday.
“Both Malaysia and Bangladesh have agreed to the terms set by the Bangladesh Bridge Authority and now we are waiting for a formal response,” Samy Vellu told reporters.
He said the main reason why Malaysia has shown interest in the project is to help Bangladesh prosper. “We hope this communication between the two parts of the country would provide ways and means for the creation of new townships and cities as well as provide better housing for the people of Bangladesh.”
Both Malaysia and Bangladesh signed a government-to-government memorandum of understanding (MoU) on April 10 last year for Malaysia to form a Consortium to implement the project.
Meanwhile, it is understood that a Malaysian consortium led by Tan Sri Halim Saad of Markmore Group will be implementing the project.
The Padma Bridge is a 6.15 kilometre multipurpose road-rail bridge across the Padma River, which on completion will be the largest bridge in Bangladesh and the first fixed river crossing for road traffic.
The bridge will connect Louhajang in Munshiganj to Shariatpur and Madaripur, linking the south-west of the country with its northern and eastern regions.
The project is to be undertaken on a Build-Operate-Own-Transfer (BOOT) mode through a privatized concept.
BBN/SSR/AD-15Mar13-9:15 pm (BST)