The government will sign a loan agreement with the Export-Import Bank of China on Sunday for single point mooring (SPM) installation project.
The Chinese EXIM Bank would provide some of Taka 50.00 billion for the project.
Eastern Refinery Limited (ERL) under the Ministry of Energy and Mineral Resources would implement the SPM with double pipe line project.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid said the government will implement the project for saving over Taka 10.00 billion annually, reports BSS.
Economic Relations Division Secretary Kazi Shofiqul Azam and Chinese Ambassador to Bangladesh Ma Mingqiang will ink the agreement on behalf of their respective sides.
The signing ceremony will be held at NEC Conference room at Sher-E-Bangla Nagar area of the capital.
The project is designed for ensuring unloading of imported crude oil from deep sea in a more efficient and time-saving manner.
The project would be completed with government to government (G to G) arrangements.
