India expands $2-bn infra ambit in B'ladesh

Extending its Line of Credit (LoC) of $2 billion limit, the Indian government has recently raised the total number of approved projects to nine. In this connection, the Indian EXIM Bank in a recent letter to the Economic Relations Division (ERD) of the ministry of finance informed that the projects included the construction of double line track in Khulna-Darshana Junction section of Bangladesh project with an estimated cost of $396 million (LoC portion $312.4 million). It also included the conversion of gauge line to dual gauge line in Patbatipur-Kaunia section of Bangladesh railway project with an estimated cost of $142.73 million (LoC portion $120.04 million), Barapukuria-Bogra-Kaliakoir 400 kv line project with an estimated cost of $366.31 million (LoC portion of $ 210.06 million). Besides, establishment of Indian economic zone in Mongla, Bagerhat, and Bheramara project with an estimated cost of $88.02 million (LoC portion of $ 88 million), procurement of equipment and machineries of construction, repair and maintenance of road infrastructure project with an estimated cost of $74.23 million (LoC portion of $59.84 million). With the fresh approval, nine projects have so far received Indian EXIM Bank‘s approval where around $1,596 million would be invested to implementing these projects. Out of the overall cost of these nine projects, the Indian government would provide $ 1,221.54 million while the rest of $374.46 million would come from the state exchequer.