The government has cancelled the Shantinagar to Dhaka-Mawa (Jhilmil) four-lane flyover project taken under public-private partnership (PPP) after the Ministry of Housing and Public Works sought cancellation of the project on behalf of Rajdhani Unnayan Kartripakkha (Rajuk).
The decision came on Wednesday during a meeting when the cabinet committee on economic affairs approved a Rajuk proposal to cancel the project.
Speaking on the cancellation of the project, Finance Minister AHM Mustafa Kamal, who presided over the cabinet body meeting, said the perspective of the previous decision to implement the project through PPP does not exist anymore.
"The perspective, based on which the project was taken up 15 years ago, does not exist anymore," he said.
The minister, however, pointed out that if the government finds an ideal PPP partner in the future the project may restart.
"The government may even implement a revised project," he added.
During Wednesday's meeting, the committee approved a proposal in principle for appointing a Chinese consortium as the investor for implementing the Rampura-Amulia-Demra highway project into four-lane under the PPP initiative.
The Finance Minister informed that the Consortium of China Communications Construction Company Ltd (CCCCL) and the China Road and Bridge Corporation (CRBC) will implement the up-gradation of the four-lane project on a PPP basis under the Road Transport and Highways Division.
He revealed that the estimated cost of the project is around Taka 2,093 crore which would be entirely invested by the Chinese consortium.
Besides, the consortium will also maintain the highway for 25 years, he added.