Saturday, February 23, 2013
Traffic in the country’s capital, home to 15 million people, is among the slowest in the world with commuters spending three-to-four hours in jams daily. A mix of 200,000 motor vehicles and another half-million cycle-rickshaws clog the roads.
Officials said the proposed 20.1-kilometre ground and elevated railway will stretch across Dhaka from north to south with 16 stations and will ferry four million commuters every day, easing the jams substantially.
The project will cost an estimated USD 2.8 billion, Japan International Cooperation Agency (JICA) Bangladesh chief Takao Toda said, adding that his agency will finance 85 per cent of the cost at an interest rate of 0.01 per cent.
"The metro-rail will reduce travel time to 36 minutes (to cross from north to south Dhaka), which now takes hours," Toda said at the signing of the first phase of the loan deal entailing USD 116.3 million for consulting services.
The metro-rail construction will start in 2016 and end in 2021. The government may seek investment from other donors for the remainder of the cost.
The metro will be the impoverished country's second-largest infrastructure project after a USD 3-billion bridge project over the river Padma.
The government says it plans to finance the bridge on its own. Early this month, Bangladesh withdrew its request for World Bank financing for the high-profile bridge project which has been dogged by allegations of corruption involving top government officials.
SATHIYAN UPSETS WORLD NO. 8 AS DABANG SMASHERS T.T.C. TAKE CONTROL OVER DHFL MAHARASHTRA UNITED JULY 23, 2017 LEAVE A COMMENT ON SATHIY...
Sagar Media Inc : Naresh Sagar March 16, 2017 Sagar Media Inc HEADLINES PHOTOS WORLD EDUCATION BUSINESS POLITICS SCIENC...
Dear N.K, Over the past few weeks and months, March 2, 2017 Dear N.K, Over the past few weeks and months, we’ve ...
Wikileaks Release under FBI & CIA investigation March 9, 2017 United States, Federal agencies have launched a criminal investiga...