China’s Exim Bank is giving a loan of 59.13 billion taka at two percent interest rate.
The tunnel will be the first under river tunnel in South Asia. Extensive work is underway to complete the remaining 8 per cent work of the project. Along with workers, local and foreign engineers are involved in the project.
The government led by Prime Minister Sheikh Hasina initiated the construction of a tunnel under the Karnaphuli River to connect the city’s Patenga and South Chattogram’s Anwara Upazila to create a ‘One City, Two Town’ model port city similar to the Chinese city of Shanghai. .
In November 2015, the Executive Committee of the National Economic Council approved the multi-lane road tunnel project at a cost of Taka 84.46 billion and the project’s completion date was set for December 2021.
The cost was later increased to Taka 103.74 billion and the duration of the project was extended till December 2022.
In the latest revision, the duration of the project has been extended till December 30, 2023, and the cost has increased by Taka 1.64 billion.
According to the survey conducted in 2013, before the construction of the tunnel, 63 lakh vehicles will be able to pass through the tunnel annually. Accordingly, about 17260 vehicles can run in a day. By 2025, an average of 28,305 vehicles will pass through the Bangabandhu Tunnel daily.