The Executive Committee of the National Economic Council (ECNEC) yesterday approved the ‘Cross-border Road Network Improvement’ project in a bid to improve the overall socio-economic condition of farmers and alleviate poverty, and thereby ensure the economic growth of Bangladesh and South Asia.

The cost of the project has been estimated at Tk 2,472,93 crore .

The approval came at the ECNEC meeting for the current fiscal year, held at the NEC conference room at Sher-e-Bangla Nagar in the city, with ECNEC chairperson and Prime Minister Sheikh Hasina in the chair.

Briefing reporters after the meeting, planning minister AHM Mustafa Kamal said the ECNEC approved nine development projects involving Tk 6,099.68 crore. "Of the total project cost, Tk 2,543.50 crore will come from the exchequer, Tk 155.22 crore from the organisation's own funds and Tk 3,400.96 crore from project assistance," he explained.

Mustafa Kamal said the Cross-border Road Network Improvement project, which will connect Asian Highway 1 (AH-1), is scheduled to be completed by 2022, with the financial assistance of the Japan International Cooperation Agency (JICA).

The roads and highways department will implement the project at a cost of Tk 2,472.98 crore, aiming to complete the project, work on which will start in May 2016, by June 2022.

The planning minister said JICA will provide Tk 1,851.78 crore and the government will provide Tk 662.61 crore.

The government has taken up the implementation of the project to improve national and regional transportation, and logistics networks by rehabilitating and developing major international roads in Bangladesh, thereby contributing to the economic growth of Bangladesh and South Asia.

The project proposal said this road would play a vital role towards improving the socio-economic condition of 1.7 billion in this region and also boost trade among four neighbouring countries—Bangladesh, Bhutan, India and Nepal.

According to the project summary, the implementing agency—the roads and highway department—will construct a four-lane Kalna Bridge on the Dhaka– Jessore–Benapole Road (AH1).

Mustafa Kamal explained that this is in addition to the construction of an approach road and installation of a toll collection system with toll booths; replacement and reconstruction of four existing bridges by a four-lane one with service lanes, two four-lane ones, and two-lane small to medium-sized PC girder bridges on the Dhaka–Jessore–Benapole road, together with the installation of an axle load control station at Benapole; replacement and reconstruction of eight existing bridges by two-lane small-sized PC girder bridges together with the installation of axle load control stations at Ramgarh; and replacement and reconstruction of four existing bridges by four-lane small to medium-sized PC girder bridges on the Chittagong–Cox’s Bazar Road.

Again, the Bangladesh Economic Zone Authority (BEZA) is revising the Bangladesh Economic Zone Development Project for the second time to encourage rapid economic development and to create employment opportunities, sources at BEZA have said. This will be carried out in accordance with Prime Minister Sheikh Hasina’s directive.

Regarding the economic zone project, the revised details project plan (DPP) has been approved and its deadline extended to January 2021 from the existing one of June 30, 2016, in accordance with the Bangladesh Economic Zone Authority (BEZA) proposal and Prime Minister’s directive.

Commenting on the economic impact of this project, the planning minister said the project will promote balanced development of multi-product industries in different regions of the country, create basic infrastructure for the establishment of economic zones, develop economic zones with the required infrastructure and other utilities at the allocated land with ready infrastructure for local and foreign investors, create a conducive business environment to attract foreign companies to develop and operate economic zones, and promote industries to realise the government’s Vision 2021.

The estimated revised project cost is Tk 905.32 crore. Under the project, BEZA will develop eight economic zones at Mirsarai in Chittagong, Anwara in Chittagong, Teknaf in Cox’s Bazaar, Keraniganj in Dhaka, Mongla in Bagerhat, Moulavibazar Sadar, Chunarughat in Hobiganj, and Bandaer and Sonargaon in Narayanganj.

The ECNEC has already approved the Bangladesh Economic Zones Development Project (Phase 1), focusing on expansion of ‘multi-product’ industries. Under the project, four special economic zones (SEZs) would be set up at Sirajganj, Moulavibazar, Anwara and Mirsharai in Chittagong.

The other approved projects are: widening of the Dinajpur–Chirirbandar–Parbatipur road (Z-5025) at cost of Tk 45.27 crore; construction of the headquarters of the Bangladesh Land Port Authority at Sher-e-Bangla Nagar in the city at cost of Tk 34.50 crore; expansion of Amin Bazar–Mawoa–Mongla 400KV line at a cost of Tk 1,356.59 crore; further development of the Dhaka University of Engineering and Technology at a cost of Tk 277.50 crore; protection of Tajumuddin Sadar upazila of Bhola district through protection of the river bank at a cost of Tk 449.39 crore; construction of Pani Bhaban (first phase) at a cost of Tk 210.94 crore; and development of important rural infrastructure in Kishoreganj district at a cost of Tk 347.24 crore.

Ministers, advisers to the Prime Minister, state ministers and members of the Planning Commission were present at the meeting.