Toma gets contract to build eight buildings for Uttara apartment project | The Daily Star
12:48 AM, March 26, 2015 / LAST MODIFIED: 12:30 AM, March 31, 2015

Toma gets contract to build eight buildings for Uttara apartment project

Star Business Report

Toma Construction and Company yesterday got the contract to build eight of the 240 buildings for the Uttara apartment project, taken up by the government to provide housing for the low- and middle-income group.

The company will construct 672 flats at the complex located at Uttara sector 18, according to the proposal from the public works and housing ministry.

The government will give Tk 356.28 crore to the company to construct the flats, which have to be completed within two and a half years from the date of signing the agreement.

The approval came at yesterday's meeting of the cabinet committee on purchase chaired by Industries Minister Amir Hossain Amu.

Besides, the government has selected a Malaysian company for building 8,400 flats under the same project taken up in 2011.

The ministry recently sent the proposal to the purchase committee and draft agreement with the Malaysian company has been forwarded to the law ministry for further scrutiny.

Also at yesterday's meeting, the committee gave the nod to a proposal from the bridges division for appointing a non-governmental organisation named Eco-Social Development Organisation to rehabilitate those affected by the Padma bridge project.

The project's expected outlay is Tk 13.15 crore.

Meanwhile, the cabinet committee on economic affairs yesterday also approved a proposal for taking a $50 million “commodity credit” from Belarus with low interest rates for procuring maintenance equipment for city corporations.

The rate of interest on the loan will be 1 percent and no extra service charge or fee will be applicable, according to a proposal from the local government division.

The government will have to pay 15 percent of the price of the commodities to Belarus in advance and the remaining 85 percent can be paid in 11 years, including a three-year grace period.

Alongside, the Belarus government will provide two years' warranty on the imported equipment; all maintenance cost during the period will be borne by the Belarusian exporter.

The exporter will also send engineers and mechanics to Bangladesh at its own expense to train the workers how to use the machineries. After the expiry of the warranty period, the exporter will supply the necessary spare parts at factory price. It will also set up a service centre for providing services in this regard.

The purchase committee also approved a proposal from the Directorate General of Food, allowing Dubai-based Phoenix Commodities to supply 50,000 tonnes of wheat at $243.69 a tonne to Bangladesh.

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