The government has secured the priority negotiation rights for our companies in the water supply project for the BSMSN Economic Zone in Bangladesh.
The Ministry of Land, Infrastructure and Transport and the Korea Infrastructure and Urban Development Corporation (KIND) announced on the 21st that they held the 5th Korea-Bangladesh Public-Private Partnership (PPP) Joint Consultative Body meeting with the local Public-Private Partnership Authority (PPPA) at the Prime Minister's Office residence in Bangladesh the previous day and agreed on this matter.
This project involves supplying 250,000 tons of industrial water daily to the industrial complex within the BSMSN Economic Zone located in Chattogram city, Bangladesh, with a project cost of approximately 1 billion USD. The construction period is 5 years, and the operation period is 30 years.
Based on the priority negotiation rights, the government will negotiate project conditions exclusively with the Bangladesh government without a separate public bidding process. Subsequently, the project contract will be signed through the submission of the final proposal and negotiations. The consortium of our companies consists of KIND and Taeyoung Construction, among others.
Location and Route of the Water Supply Project in the Bangladesh BSMSN Economic Zone / Image provided by the Ministry of Land, Infrastructure and Transport
Previously, KIND and PPPA signed a memorandum of understanding in April 2019 to activate Korean participation in infrastructure PPP projects, and through four joint consultative meetings, they have discussed the commercialization plans for priority negotiation rights for four projects, including the Magna Bridge.
The latest overseas construction policy director of the Ministry of Land, Infrastructure and Transport stated, "Since Bangladesh is a country with a legal framework for government-to-government (G2G) infrastructure development cooperation, we will continue to discover PPP projects through the consultative body and support the projects with secured priority negotiation rights to be successfully awarded to our companies."
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