Dhaka, KL to hold meeting on Padma Bridge next week
Dhaka, July 31 (UNB) - Malaysia and Bangladesh will hold a meeting from Aug 4-6 in Dhaka to finalise matters related to the Padma Multipurpose Bridge (PMB) project.
Special Envoy to India and South Asia, Datuk Seri S.Samy Vellu, will lead the Malaysian delegation to Dhaka, Malaysian official news agency Bernama reported quoting official sources.
The report says Samy Vellu will hold talks with Bangladesh Minister of Communications, Obaidul Quader, on the project and seek a firm commitment on many key issues. He is also scheduled to visit the PMB project site.
Malaysia has almost resolved all the outstanding issues on the technical and financial aspects of the project. "During the visit, the Malaysian side will present its final draft agreement to the Bangladesh government after getting a full commitment from Dhaka," the source added.
This comes in the wake of many conflicting media reports in Bangladesh, quoting unnamed sources and senior government officials, which has caused uneasiness in Malaysia. "It has to be understood that both the Malaysian and Bangladeshi governments have signed a memorandum of understanding (MoU). It was witnessed by Malaysian Prime Minister Datuk Seri Najib Tun Razak.
"Obviously the MoU has a timeline for implementation, and until such time, it has to be honoured. This is a government-to-government understanding," the source told th Malaysian news agency.
The Malaysian and Bangladesh governments signed the MoU in April this year and the PMB project will be implemented under the Public-Private Partnership (PPP) on a Build, Operate, Own and Transfer model.
At the signing ceremony, Najib also spoke over the telephone with Bangladesh Prime Minister Sheikh Hasina about the project.
Najib said the bridge, when completed, would enhance Malaysia-Bangladesh bilateral relations.
The project is to be undertaken by a Malaysian company, which will form a joint venture with a leading foreign construction entity, the source said without naming the companies concerned.
According to the source, the Malaysian proposal had been revised twice. The final proposal has been drafted to ensure a win-win situation for both countries. "It’s now up to the Bangladesh government. The Malaysian side has taken into account all aspects, including the requests of the Bangladesh government, in the final proposal. "The proposal is expected to be submitted to the Bangladesh government in the middle of August," the source said.
The cost of the project is said to have increased from US$2.9 billion (RM9.08 billion) in 2010 to almost US$3.5 billion (RM10.96 billion) at present.
This is among others, due to, the fluctuation in the Bangladesh currency - it currently hovers at US$1 to 81 Bangladesh Takas - inflationary pressure and the rising cost of construction materials.
There is also the country risk factor, which will be taken into account by financiers, when giving out loans to the concessionaire of the project.
It is understood that Najib is expected to attend the project's groundbreaking ceremony in Dhaka with Sheikh Hasina in October.
"If all goes well, the agreement between Malaysia and Bangladesh could be signed by September," the source added.
Special Envoy to India and South Asia, Datuk Seri S.Samy Vellu, will lead the Malaysian delegation to Dhaka, Malaysian official news agency Bernama reported quoting official sources.
The report says Samy Vellu will hold talks with Bangladesh Minister of Communications, Obaidul Quader, on the project and seek a firm commitment on many key issues. He is also scheduled to visit the PMB project site.
Malaysia has almost resolved all the outstanding issues on the technical and financial aspects of the project. "During the visit, the Malaysian side will present its final draft agreement to the Bangladesh government after getting a full commitment from Dhaka," the source added.
This comes in the wake of many conflicting media reports in Bangladesh, quoting unnamed sources and senior government officials, which has caused uneasiness in Malaysia. "It has to be understood that both the Malaysian and Bangladeshi governments have signed a memorandum of understanding (MoU). It was witnessed by Malaysian Prime Minister Datuk Seri Najib Tun Razak.
"Obviously the MoU has a timeline for implementation, and until such time, it has to be honoured. This is a government-to-government understanding," the source told th Malaysian news agency.
The Malaysian and Bangladesh governments signed the MoU in April this year and the PMB project will be implemented under the Public-Private Partnership (PPP) on a Build, Operate, Own and Transfer model.
At the signing ceremony, Najib also spoke over the telephone with Bangladesh Prime Minister Sheikh Hasina about the project.
Najib said the bridge, when completed, would enhance Malaysia-Bangladesh bilateral relations.
The project is to be undertaken by a Malaysian company, which will form a joint venture with a leading foreign construction entity, the source said without naming the companies concerned.
According to the source, the Malaysian proposal had been revised twice. The final proposal has been drafted to ensure a win-win situation for both countries. "It’s now up to the Bangladesh government. The Malaysian side has taken into account all aspects, including the requests of the Bangladesh government, in the final proposal. "The proposal is expected to be submitted to the Bangladesh government in the middle of August," the source said.
The cost of the project is said to have increased from US$2.9 billion (RM9.08 billion) in 2010 to almost US$3.5 billion (RM10.96 billion) at present.
This is among others, due to, the fluctuation in the Bangladesh currency - it currently hovers at US$1 to 81 Bangladesh Takas - inflationary pressure and the rising cost of construction materials.
There is also the country risk factor, which will be taken into account by financiers, when giving out loans to the concessionaire of the project.
It is understood that Najib is expected to attend the project's groundbreaking ceremony in Dhaka with Sheikh Hasina in October.
"If all goes well, the agreement between Malaysia and Bangladesh could be signed by September," the source added.
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