The Bangladesh Bridge Authority (BBA) starts finding financiers from both development partners and public-private partnership (PPP) as its feasibility study reveals a $102.77-billion investment plan until 2050.
Last week, a Spanish firm submitted the study recommending development of a 238-kilometre network some 25-70 metres underground following a tunnel-boring machine method.
Sources say as several PPP proposals have been in queue from countries like South Korea, China and Middle East, the BBA is reviewing alongside finding assistance from development partners.
Firms from these countries showed their interest to the BBA as well as to the PPP Authority to invest in subway construction either in a single line or more.
"But the authorities doubt making the entire subway construction under PPP viable as there is no such example in the world," says a source.
The BBA may consider roping both PPP and development partners in projects to avoid investment risk.
For example, the government may develop infrastructure, including lines with assistance from development partner while locomotives with train sets be bought under a PPP model.
Although a dedicated authority has been formed to develop metro rail, including underground train, the BBA has been working on the subway following the prime minister's directive.
As per the directive, the feasibility study was done proposing to develop the 238-km network in three stages-four routes by 2030 at $41.30 billion, another four routes by 2040 at $34.47 billion and the rest five by 2050 at $27.02 billion.
The BBA Act is also being amended to include subway under its jurisdiction as it is entitled to work on a 1.5-km bridge, elevated expressway and river tunnel.
Bridges division under road transport and bridges ministry is expected to start forming of a new company to work on subway network development.
But the government formed Dhaka Mass Transit Company Limited under the ministry in 2013 to construct six MRTs across different road corridors in Dhaka city.
The BBA is chalking up its subway plan below houses.
smunima@yahoo.com