DMTCL seeks more $300m ADB loan

Dhaka Metro Rail project

Staff Correspondent: Dhaka Mass Transit Company Limited (DMTCL) is seeking another $300 million loan from the Asian Development Bank (ADB) for the construction of about 17.4 km metro rail route from Gabtali to Dasherkandi via Asad Gate, Panthpath, Hatirjheel and Aftab Nagar.
ADB had already pledged $2.5 billion to build the line, known as the MRT Line-5 Southern Route.
At the MRT Line 5 Southern Route stakeholder consultation workshop yesterdaymorning, DMTCL Managing Director MAN Siddique asked for the additional support and said if $300 million can be availed, then no other financial support will be needed from other organisations or countries.
Director of the project Abdul Wahab said that the project’s construction cost has been estimated at about $4.7 billion after a study conducted for more than two years. Of the total amount, around $1.8 billion will be spent from government funds.
According to sources, preliminary studies estimated the cost of the project to be more than $5.5 billion.
To meet the cost, the Economic Relations Division (ERD) proposed several countries and organisations to become co-financers. However, as the expenditure was reduced in the revised estimate, the government now does not want to seek help from any other source.
On the occasion, DMTCL MD MAN Siddique said that under the project, 12.8 km underground metro rail from Gabtali to Aftab Nagar and 4.6 km elevated metro rail from Aftabnagar to Dasherkandi will be constructed. Out of total 15 stations, 11 will be underground.
He also said that the infrastructure construction would begin by the end of next year. When completed by 2030, 10 lakh passengers will use this line every day, he added.
In the speech of the chief guest at the event, Secretary of Road Transport and Highways Division ABM Amin Ullah Nuri also requested ADB to approve the additional loan of $300 million.
He said that if a total of six metro rail lines are launched in Dhaka, more than 50 lakh people will get the benefits every day.
“This will reduce traffic congestion, and as a result, people will be able to spend more time with family and at work due to fast transportation,” he noted.