Window into Further Cooperation
The Korean government has secured the rights to negotiate a US$1 billion water supply project for an industrial park in Bangladesh.
The Korean Ministry of Land, Infrastructure, and Transport and Korea Overseas Infrastructure & Urban Development Corporation (KIND) said on Aug. 21 that Bangladesh granted the preferential negotiation rights to the water supply project to Korean companies in the fifth round of a Korea-Bangladesh public-private partnership (PPP) consultation meeting in Dhaka, the capital of Bangladesh, on Aug. 20 (local time).
The project aims to supply 250,000 tons of industrial water per day to an industrial park in the BSMSN Economic Zone in Chattogram City, Bangladesh. The project budget is US$1 billion. KIND and Taeyoung E&C will participate by forming a consortium.
Based on the preferential negotiation rights, the Korean companies will negotiate the terms of the project exclusively with the Bangladeshi government without participating in a public bidding process. They will then submit proposals and negotiate to finally sign a contract on the project.
In 2019, KIND signed a memorandum of understanding with the Public Private Partnership Authority, an investment development project agency under the Prime Minister’s Office of Bangladesh. They held four rounds of the consultation meeting to discuss participation in infrastructure projects in Bangladesh.