BRICS bank to finance Tk 4500cr to Titas gas

Mohiuddin Farazi: BRICS bank NDB (New Development Bank) will finance the replacement of dilapidated gas pipelines in the capital Dhaka. The bank has agreed to provide a loan of Tk 4,500 crore for the Tk 9,000 crore project.
This is going to be the bank’s first investment in the energy and mineral resources sector of Bangladesh. Several responsible officials of the ministry told that there have been many meetings with NDB. Their initial approval was received in the last meeting on October 12. Now there are some processes to go through. It may take another 6 months to get final approval.
TGTDCL Managing Director Engineer Harunur Rashid Mollah confirmed the NDB funding to Daily Industry. He said, through this project, Dhaka’s gas supply system will be fully digitized. Along with changing Dhaka’s dilapidated pipelines, there will be GIS mapping, SCADA.
Joint Secretary of Energy and Mineral Resources Department. Rafiqul Islam told Daily Industry that our project will help reduce carbon emissions. The main component of natural gas is methane. It is 80 times more harmful than black washing. The old pipelines of Dhaka city have holes in many places. The holes through which the gas is constantly escaping. Pollution will be reduced if new pipelines are laid. The project will be completed within 5 years after commencement of work. We have applied for funding from the Climate Action Fund under the Paris Framework. If a loan is available from that fund, it will be on easy terms with low interest.
TGTDCL is the largest and oldest gas distribution company in Bangladesh. Responsible for gas supply in Dhaka, Narayanganj, Munshiganj, Manikganj, Gazipur, Tangail, Mymensingh, Jamalpur, Sherpur, Narsingdi, Netrakona, and Kishoreganj districts. On April 28, 1968, Siddhirganj started commercial operations by supplying gas to the power plant. Pipeline construction in Dhaka started in 1967. And residential was first given gas connection in 1968 at the residence of prominent poet Shaukat Osman. Although initially on a small scale, it expanded in the 1980s. The life of the pipelines was assumed to be 30 years. Many pipelines have expired almost a decade ago. Natural gas supply lines have become vulnerable. Due to the creation of numerous holes, on the one hand, as the gas is being depleted, the danger and environmental pollution are increasing drastically.
34 people died in an explosion in a mosque in Narayanganj due to a hole in the gas line. In 2021, a terrible explosion occurred in a building in Moghbazar. According to the police investigation, the accident occurred due to gas accumulation from the disconnected pipeline connection of Titus. The police are also suspecting the same after the blasts at Science Laboratory Mor and Siddikbazar Bhawan.
BRICS is a global alliance established by Brazil, Russia, India, China and South Africa. The alliance is named after the initials of the countries BRICS (BRICS). New Development Bank (NDB) was formed in 2014 under the leadership of that alliance. Bangladesh became a member of this bank on 16 September 2021. Besides, the United Arab Emirates (UAE) and Egypt have become members. Uruguay is on the way to becoming a new member. On the other hand, at the BRICS summit held last August, it was decided to make six more countries members of the alliance.
A project in Dhaka Wasa has received approval for the first investment in Bangladesh, although it is the first in the energy sector. The water supply system will be developed in the 16 unions newly added to the two city corporations of Dhaka through that project. Water connection will be provided by laying new lines for customers. Besides, some other projects are being discussed, ERD sources said.