Govt okays import of 180,000 tons of fertiliser, 35% payment for Bangabandhu Tunnel in dollars

The Cabinet Committee on Government Purchase (CCGP) on Wednesday approved a number of proposals including import of a total of 180,000 metric tons (MT) of fertiliser.

The committee also approved a proposal of the Bangladesh Bridge Authority to pay 65% of the payment in Bangladesh currency and remaining 35% in foreign currency (US dollar) to the Chinese service provider of the Bangabandhu Sheikh Mujibur Rahman Tunnel.

Earlier, the Chinese CCCC was appointed as service provider at a cost of Tk983.82 crore for a five-year tenure.

It will collect the toll from the tunnel user vehicles and also conduct its operation and maintenance work.

Under the new approval, the Chinese CCCC will get annually Tk656.98 crore (as 65% of the payment) in local currency and $35.162 million (equivalent to Tk326.83 crore) in US dollar.

Finance Minister AHM Mustafa Kamal presided over the virtual meeting while members of the committee attended it.

As per approval, Bangladesh Chemical Industries Corporation (BCIC) will import 90,000MT of urea fertiliser in four equal lots while the Bangladesh Agriculture Development Corporation will import the remaining 90,000MT MOP and DAP fertiliser in two lots.

In one lot, the BCIC will import 30,000MT of bulk granular urea fertiliser from Fertiglobe Distribution Limited, UAE at a cost of Tk189.28 crore with per matric ton's value at $594.67.

Some 60,000MT of the same urea will be imported by the BCIC from SABIC Agri-nutrients Company of Saudi Arabia in two lots (each 30,000MT) at the same rate and the total cost will be Tk387.56 crore.The BCIC will also import 30,000MT of phosphoric acid from Sun International of FZE, the UAE (local agent RK Enterprise, Dhaka) at a contract value of Tk 215.14 crore.

The BADC, under the agriculture ministry, will import 50,000MT of MOP fertiliser from Canada at a cost of Tk416.64 crore with per MT price at $821.

It will import 40,000MT of DAP from Saudi Arabia at a cost of Tk308.78 crore with per MT price at $826.50.

The committee gave nod to a proposal of the Bangladesh Power Development Board (BPDB) to award a Tk102.61 crore civil work contract to Ideal Electrical Enterprise Ltd., under Bangladesh Power Distribution System Improvement, Mymensingh zone project.