Planning Minister AHM Mustafa Kamal has said the endorsement at Tuesday’s ECNEC meeting “dispelled all doubts and fears” concerning the project.
“It’s a dream project,” he told reporters after the meeting. “It will be implemented before 2020.”
The government says it wants to build Chittagong into ‘One City Two Town’, modeled after China’s Shanghai.
The total cost of the project has been estimated at Tk 84.47 billion. China EximBank will provide Tk 47.99 billion while Bangladesh will arrange the rest of the funds.
A Memorandum of Understanding was signed during Prime Minister Sheikh Hasina’s China visit last year on the construction of the tunnel.
Bangladesh Bridge Authority, China Communication Construction Company (CCCC) and Ove Arup & Partners Hong Kong Limited jointly conducted a technical and financial survey.
On June 30, the BBA, which will implement the project, and CCCC signed a commercial agreement.
The tunnel aims at making communication between Chittagong and Cox’s Bazar easier and easing traffic on two bridges on the Karnaphuli, Minister Kamal said.
“We’re constructing the tunnel as we fear the Karnaphuli River may lose navigability if we build more bridges on it,” he said.