CPP to build $694 million 220-km oil pipeline in BangladeshStaff Writer | December 9, 2016
The Bangladeshi government has reached an agreement with the state-owned China Petroleum Pipeline Bureau (CPP) for a project to set up a 220-km pipeline to carry oil from tankers in the Bay of Bengal to storage plants on the mainland.
Energy The Bangladeshi government has reached an agreement
Officials say the project cost stands at 54.26 billion taka ($694 million), with China Exim Bank giving about $550 million in low-cost loans.
The project is expected to be completed by 2018 in line with an agreement signed here Thursday between the CPP and the Bangladesh Petroleum Corporation (BPC), a state run organization.
Zhao Yujian, head of CPP, and Sayed Mohammad Mozammel Haque, director of BPC, signed the agreement on behalf of their respective sides in the capital Dhaka Thursday.
Officials say once the project is implemented, the new infrastructure will help unload crude oil from mother vessels in the Bay of Bengal.
They said the new infrastructure with annual unloading capacity of 9 million tonnes will pave the way for unloading 120,000 tonnes of crude oil in 48 hours and 70,000 tonnes of diesel in 28 hours. ■