With the financial complexity over, the construction work of Dhaka Elevated Expressway is getting a new pace. Due to funds and complications, the construction work achieved 22 percent progress during the last eight years. At a cost of Tk 8,703 crore, the construction work of the project began in 2011. However, the authority concerned is now saying, the construction will be completed by 2022, scheduled to be completed in 2020.
As per bridge division information, even the time of construction has been extended, but the cost will remain the same. Within 2020, they are now eyeing to open the first phase of the expressway and by 2022; the total construction work will be completed. AHMS Aktar, Superintending Engineer of the Support to Dhaka Elevated Expressway PPP Project said, the first phase construction work of the expressway from Airport to Banani has achieved 50 percent progress. This portion will be opened for vehicular movement by September next year.
He informed that they got the financial solution when Ital-Thai, the two organizations became partners of the project. Now they own 51 percent share of the project. Of this, China Shandong International Economic and Technical Company Group Limited have 35 percent and Sinohydro has 14 percent ownership. They have already started to release funds.
He said, China Shandong released $ 11.48 billion on July 31 and Sinohydro released $ 5.18 million. More funds will be released in the coming two months. Ital-Thai will also release their part soon. Sources related to the project said work is divided into three segments—7.45 kilometers from Airport to Banani, will be constructed in the first part, 5.85 kilometers from Banani to Moghbazar in the second part, and 6.43 kilometers from Moghbazar to Kutubkhali in the final part.
The project work starting from the airport will reach Kutubkhali of the Dhaka-Chattogram highway via Kuril, Banani, Mohakhali, Tejgaon, Moghbazar, Kamalapur, Sayedabad and Jatrabari. The main project cost has been estimated at Tk 8940 crore. Of the amount, Italian-Thai Development Public Company Ltd invested Tk 6,444.31 crore and the rest Tk 2413.80 crore will be spent by the government from its own fund as Viability Gap Fund (VGF).
The Executive Committee of the National Economic Council (ECNEC) approved the project in October 2011. The project work was supposed to start in July 2011 to finish in December 2014. During that time, the project cost was estimated at Tk 3216.87 crore. But later, due to some addition and time extension of the project, the revised cost stood at Tk 4,869 crore, and execution time extended to 2020.
