Bangladesh Bridge Authority (BBA) today signed a memorandum of understanding (MoU) with Korea Expressway Corporation (KEC) for the operation and maintenance of Padma Multipurpose Bridge.
The MoU was signed at Setu Bhaban in the capital in presence of Road, Transport and Bridges Minister Obaidul Quader in the morning.
Rezaul Haider, director (admin) of BBA, and Shin Young Suk, managing director of KEC signed the MoU on behalf of their respective organisations, the minister told the reporters after the signing ceremony.
As part of the MoU a technical team of KEC will visit Padma Bridge site and will give a proposal on possible maintenance, required manpower and relevant issues including toll collection, Quader said.
Once the technical proposal is discussed and approved by the authorities concerned, the two sides will sign a contract, he added.
PADMA MULTIPURPOSE BRIDGE
The construction work of the long-cherished Padma bridge started in December 2015. It is now expected to be completed by 2020. The plying of vehicles on the bridge is expected to begin by June 2021.
The 6.15-kilometre bridge, which will connect the country's southern region to the capital, will hugely boost communications and trade and economic activities.
The bridge, which will have a total of 41 spans with each 150 metres long, has witnessed an overall progress of 73 percent, Quader told the reporters last month.
Government provided Tk 29,893 crore loan to BBA through the Finance Division to implement the project of Padma Bridge.
Once the project is completed, the BBA will repay the loan from its income at 1 percent interest.
BBA will start repaying the loan from fiscal 2021-22. The repayment period is 35 years.