Single Point Mooring project to be placed for ECNEC approval soon:Daily Sun

The single point mooring (SPM) project involving an estimated cost of Tk 4,243 crore is set to be placed before the Executive Committee on National Economic Council (ECNEC) for approval, an official said. “Bangladesh Petroleum Corporation (BPC) has already placed a development project proposal before the planning ministry for approval; and then it will be tabled at the ECNEC meeting,” BPC chairman

AM Badruddoza told daily sun. He said the BPC has already selected Germany-based ILF Consulting Engineers as consultant of the project at a cost of 19.75 million euro. After delay of over five years, the government has targeted to implement the project by 2018. The BPC has projected the implementation of the project would help the government save Tk 1,600 crore a year by preventing pilferage of petroleum fuel while transporting fuel between the offshore and land. The BPC has already signed a memorandum of understanding (MoU) with China Petroleum Pipeline Bureau (CPPB) at the end last year to implement the project, an official concerned said. As per the MoU, the CPPB has already sent a technical proposal to the BPC last month. The government will set up a 106-kilometer pipeline under the SPM project with investment from Chinese EXIM Bank. An official said the single point mooring will have the capacity to unload imported petroleum fuels in two days, which usually needs 11 days with the existing facility. He also said the government will be able to recover the investment required for setting up the facility in five years.