Another $300m sought from ADB for metro rail

News Desk :
The construction company Dhaka Mass Transit Company Limited (DMTCL) sought another $300 million from the Asian Development Bank (ADB) for the construction of Metro Rail Line-5.
The DMTCL authorities gave this information at the second workshop of MRT-5 (Southern Route) at Hotel Intercontinental in Dhaka on Sunday.
The construction of the country’s first metro rail section from Gabtoli to Daneshkandi (MRT-5 Southern Route) will cost $4.7 billion. Of this, ADB has shown interest in financing $2.5 billion.
The government wants investment of $2.8 billion in this project so the DMTCL authorities have requested another $300 million from ADB. The government is ready to finance the remaining $1.9 billion.In the event, Road Secretary ABM Amin Ullah Nuri and DMTCL Managing Director MAN Siddique made the request of additional $300 million to ADB Country Director Jiangu Mein.
DMTCL MD MAN Siddique said: “This is the first time ABD is investing in a metro rail project. We request ADB to increase their investment by another $300 million in this project. This is not a big deal for ADB. Hope ADB will continue their support.”
Requesting ADB to finance additional money, he said, if ADB gives a little more money than what it is currently giving, it will be possible to implement the entire project with ADB financing.
MRT Line-5 Southern Route 17.40km metro rail will be constructed from Gabtoli to Dasherkandi by 2030. Out of this, underground is 12.80km and aerial is 4.60km. Out of a total of 16 stations, 12 are underground and four are aerial.
The stations are – Gabtoli, Technical Junction, Kalyanpur, Shyamoli, College Gate, Asad Gate, Russell Square, Panthpath, Sonargaon Hotel, Hatirjheel West, Niketan, Rampura, Aftabnagar West, Aftabnagar Central, Aftabnagar East, and Dasherkandi.
MAN Siddique said: “The work of coordinating the name of the station and acquisition of land is at the final stage. We will now go for investment. Metro rail will not harm the environment, it will reduce traffic and will contribute to the development of the country.”
ABM Amin Ullah Nuri also requested ADB to increase their investment in this project by another $300 million.