30% increase in cost expected for Bangladesh’s Padma Bridge project
First publishedon www.WorldHighways.com
The price of building the Padma Bridge in Bangladesh could rise by 30% due to the depreciation of the taka against the US dollar and rising construction material prices.
The bridge had been most recently forecast to cost US$2.9billion, with budgets previously having risen two-fold from the US$1.22billion funding package approved in 2007 by Bangladesh’s Executive Committee of the National Economic Council (ECNEC).
Last year, The World Bank decided to temporarily halt the disbursement of an aid fund for the project over an alleged corruption in the bidding process.