Dhaka mulls foreign funds for Padma Bridge

Bangladesh plans to start initial work on the much delayed Padma Bridge with its own resources, but might need foreign funds for the main structure, its Communications Minister Obaidul Quader said.

Prime Minister, Sheikh Hasina is expected to make the funding arrangement public next month, he said.

"She will announce whether the external funds are be needed," The Financial Express reported quoting Quader as saying.

The multi-purpose road rail bridge of 6.15km is estimated to cost RM9.3 billion. The project is to be undertaken on a Build, Operate, Own, Transfer mode through a privatised concept.

The Communications Minister's comment on the requirement for foreign funds came after the country's Finance Minister unveiled in parliament the plan to build the bridge with internal resources.

The minister said the government already had offers from India.

China has shown interest as well, said the report.

On the other hand, the government last year signed with Malaysia, a memorandum of understanding (MoU) on the construction of the bridge.