Padma bridge: Project cost reduced by Tk 1,835cr

Road Transport and Bridges Adviser Muhammad Fouzul Kabir Khan said last night that the construction cost of the Padma Bridge has been reduced "due to the adoption of a contractionary policy."

"We are pleased to announce that the last estimated cost of the Padma Bridge project was Tk 32,605.52 crore. Now, with the adoption of the contractionary policy, the final cost stands at Tk 30,770.14 crore. This means Tk 1,835 crore has been saved," he said during a press conference at the service area 2 of the Padma Bridge's Jajira end.

He provided a breakdown of the savings, including Tk 530 crore from the main bridge, Tk 80 crore from river training, and Tk 178 crore from access roads and service areas. Additionally, Tk 500 crore was saved due to price contingencies, Tk 103 crore from land acquisition, Tk 200 crore from consultancy, and Tk 244 crore from other expenses, he added.

"After receiving instructions [from the chief adviser], I decided to cut costs across the ministries I oversee. This does not mean we will do less work; we will carry out the same projects at a lower cost so that we can implement more initiatives with the same budget," Fouzul said.

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Padma Bridge project costs rise by Tk 2,412cr

The Padma Multipurpose Bridge Project was completed on June 30 this year, approximately 17 years after its inception in August 2007.

The project underwent several revisions, with the cost rising to Tk 32,605 crore.

At one point, Shafiqul Islam, the then project director, had estimated that around Tk 1,600 crore might not be needed, predicting the final project cost to be around Tk 31,000 crore.