‘Bangabandhu tunnel to speed up industrial growth’

The opening of the Bangabandhu Sheikh Mujibur Rahman Tunnel under the Karnaphuli river will lead to the development of numerous industrial units from Chattogram to Cox's Bazar and encourage urbanisation, said Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

After the Padma Bridge, the Bangabandhu Tunnel is another example of the country's capability to take up mega infrastructure projects, he said.

"Such infrastructure projects will facilitate the aim of turning Bangladesh into a developed country and transforming it into a trillion-dollar economy," he said in an interview with The Daily Star yesterday.

The implementation of this tunnel fulfils the need for an alternative connection between the two banks of the Karnaphuli in order to develop Chattogram along the "one city, two towns" concept, the FBCCI president said.

The tunnel will also serve as a link to eastern regions, including the Matarbari Deep Sea Port and the "Seven Sisters" of India.

Similar to the Padma Bridge's contributions to the country's GDP, this tunnel will contribute significantly to the economy, he noted.

Alam said that the implementation of mega projects in Chattogram had led to various countries, including Japan, showing an interest in investing in the region.

He also expressed that there was no alternative to constructing the Dhaka-Chattogram Expressway in order to get the full benefits of the mega-projects implemented in the Chattogram region.

He emphasised the implementation of the Dhaka-Chattogram Expressway immediately in order to attract foreign investors to the Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsarai, the country's largest economic zone.

Another necessity to realise the full benefits of the Bangabandhu Tunnel is planned urbanisation and industrialisation on the southern bank of the Karnaphuli, he added.

He said tunnels under rivers were no longer a dream, adding that the Bangabandhu Sheikh Mujibur Rahman Tunnel would provide a positive example of the country's capabilities to the outside world.

The Bangabandhu Sheikh Mujibur Rahman Tunnel was inaugurated by Prime Minister Sheikh Hasina yesterday.

The total length of the tunnel, including connecting roads, is 9.39 kilometres. The length of the main tunnel is 3.32km while the connecting road is 5.35km long.

Its foundation stone was laid in October 2016 and construction began in February 2019. Although it was scheduled to be inaugurated in November 2020, the completion of the project was delayed several times due to the Covid-19 pandemic while costs also increased.

Initially set to cost a little under Tk 8,000 crore, expenses increased to Tk 10,689.71 crores.

The Bangladesh government is providing BDT 4,619.70 crore in financing, with the remaining BDT 6,070.01 crore being funded by the Exim Bank of China.

The tunnel connects Chattogram on the north end of the Karnaphuli with Anwara upazila on the south of the river.

The Tunnel will yield Financial and Economic Internal Rates of Return (IRR) at 6.19 percent and 12.49 percent, respectively.

It is forecasted to boost Bangladesh's GDP by 0.166 percent.