DHAKA, Oct 28, 2017 (BSS)-The government is going to sign a framework agreement (FA) with the Export-Import Bank of China for installation of a single point mooring (SPM) with double pipelines tomorrow.
Offficial sources said ERD (Economic Relations Division) Secretary Kazi Shofiqul Azam and Chinese Ambassador to Bangladesh Ma Mingqiang will ink the loan agreement at 10am at NEC Conference room in the city’s Sher-E-Bangla Nagar on behalf of their respective sides.
The sources said Eastern Refinery Limited (ERL) under the Ministry of Energy and Mineral Resources would implement the SPM with double pipe line project. The Chinese EXIM Bank would provide some of Taka 5,000 crore for the project.
The project is designed for ensuring unloading of imported crude oil from deep sea in a more efficient and time-saving manner.
Talking to BSS, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said the present government led by Prime Minister Sheikh Haisna has undertaken the project to install the SPM for saving over Taka 1,000 crore annually.
“Once the project is implemented, it would help unloading crude and refined oil from mother vessels in the Bay of Bengal along with tackling oil pilferage and reducing time for fuel oil supply across the country,” he said.
According to the project details, installation of the SPM would be completed with government to government (G to G) arrangements.
Earlier, Bangladesh Petroleum Corporation (BPC), a state run organization, and a Chinese petroleum firm-China Petroleum Pipeline Bureau (CPPB)-signed the agreement for engineering, procurement, construction and commissioning for installation of the single point mooring with double pipelines on December 8 last year.