A Chinese firm has formally proposed to invest US$ 2.40 billion in the Padma bridge project, Communications Minister Obaidul Quader said Tuesday.
The minister said the Exim Bank of China will provide the fund.
He was speaking to journalists after a meeting with a delegation of the Poly Technology Corporation and Exim Bank at Bangladesh Secretariat, reports Bangla daily Prothom Alo.
The firm had made the proposal earlier but the discussion took place Tuesday, Quader said.
The proposal had been sent to the Economic Relations Division (ERD), he said.
He further said if the ERD finds it acceptable, they would let the bridges division know and then the bridge division would finalise everything.
The government on June 26 floated tender for the construction of the main bridge of the Padma project.
Asked about necessity of foreign funds, the minister said, “Lots of foreign funds will be required to construct the Padma bridge.”
“The Chinese proposal would meet that to help reduce pressure on our reserves,” the communications minister replied.
Source: The Daily Star
