Prime Minister Sheikh Hasina inaugurated the construction work of Dhaka Elevated Expressway today (Saturday morning)
The inaugural ceremony was held at Army Stadium in Banani.
Italian-Thailand Development Public Company Ltd (Ital-Thai Company) got the contract to build the expressway. The estimated cost is Tk 8,703 crore.
According to the contract, Ital-Thai Company will build the expressway from Shahjalal International Airport to Kutubkhali on Dhaka-Chittagong highway under public-private partnership (PPP).
The main expressway will be 21-kilometre long though its total length will be 26 kilometers with two link roads. There will be 35 ramps on the expressway.
The said company will have to complete the work within three and half years from the date of issuance of the work order. Failing to do so, they will have to pay $50,000 per day.
The government will have to hand over 30 percent of the project land to the company within a maximum period of six months and 35 percent each year in the next subsequent years.
On the other hand if the government fails to hand over the land timely, the government will have to pay the company a compensation of $ 10,000 per day.
According the contract, 50 percent of the construction materials and expertise will be procured from the local market.