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Fast-track projects advance 83pc

by tbhdesk

The government reports a significant progress in eight key infrastructure projects, collectively known as “Fast Track” projects, as they approach an 83.03 percent completion mark.

This comes despite prevailing economic crises, with necessary funds being allocated to expedite completion.

According to the Implementation Monitoring and Evaluation Division (IMED), Tk 2,059.56 billion of the total Tk 3,062.69 billion cost has been spent on these mega projects until June this year, marking a financial progress of 71.44 percent.
The Fast-Track projects comprise the Padma Bridge, Metrorail, Rooppur nuclear power plant, Padma rail link, Matabari power plant, Rampal power plant, Payra deep seaport, and Dohazari-Cox’s Bazar-Ramu-Ghundhum single-track dual gauge rail line.

State Minister for Planning, Dr. Shamsul Alam, lauded the Awami League government’s efforts, stating, “The mega projects are the outcome of the government’s bold steps.”

Most of the projects are nearing completion due to diligent oversight by the Fast-Track project monitoring committee.”

Key projects like the Padma Bridge and the first phase of the Metrorail project are now operational, though work is still ongoing. The Padma multipurpose bridge project, which opened in June last year, records physical progress of 99.60 percent and financial progress of 88.59 percent, with Tk 288.85 billion spent so far.

The project, initiated in January 2009, has seen several timeline extensions and, recently, an increase in cost of Tk 11.17 billion.

Meanwhile, the much-anticipated Metrorail project saw its Uttara-Agargaon portion open to the public in December, with the entire project expected to be completed by December 2025.
The project currently stands at 78 percent physical progress and 67.93 percent financial progress, with a cumulative expenditure of Tk 227.39 billion. The Metrorail project’s cost has recently been revised to Tk 334.72 billion from an initial Tk 219.85 billion, extending the project’s timeline by 18 months.

The Rooppur nuclear power plant, the country’s most expensive development project to date, has reached physical progress of 60.46 percent and financial progress of 58.21 percent, with a total expenditure of Tk 658.30 billion.

The project, initially due for completion this year, has been delayed due to the ongoing pandemic and unresolved loan repayment issues. It is now projected to be operational by 2024.

The Padma rail link, aimed at establishing rail connectivity between 21 south and southwestern districts and the capital, Dhaka, has achieved 80 percent physical progress and 75.33 percent financial progress.

So far, Tk 295.65 billion has been spent, out of the total estimated cost of Tk 392.46 billion, with a completion deadline set for June 2024.

Under the Maheshkhali-Matarbari combined infrastructure development programme, 12 separate projects are in progress, with an expenditure of Tk 332.49 billion out of Tk 518.55 billion. The financial and overall progress of these projects was 64 percent and 77 percent, respectively, as of June.

The India-funded Rampal power plant is nearing completion, with physical progress of 93.56 percent and financial progress of 88.03 percent, equating to Tk 140.84 billion out of Tk 160 billion.

The Payra deep seaport project, focused on constructing necessary infrastructure, has used Tk 37.52 billion of the allocated Tk 43.74 billion. Its physical and financial progress stood at 89.87 percent and 85 percent, respectively.

Finally, the Dohazari-Cox’s Bazar-Ramu-Ghundum rail line project, aimed at enhancing tourism and regional rail connectivity, has seen physical progress of 86 percent.

However, its financial progress is at 43.54 percent, with Tk 78.52 billion spent out of a total budget of Tk 180.34 billion.

Source: The Daily SUN.

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