BANGLADESH

Bangladesh will receive 12 buses in its first consignment of double-deckers from India on Feb 12.

"We ordered 290 double-deckers and will get the first consignment of 12 buses on Feb 12," Bangladesh Road Transport Corporation chairman M M Iqbal told on Monday.

The procurement was done under the $1 billion Indian credit line that was announced during the visit of prime minister Sheikh Hasina to New Delhi in 2010.

"Each bus will cost about Tk 65 to Tk 70 lakh and has performance guarantee from the manufacturer," he said. "We hope to get all the buses by July."

Ashok Leyland is the manufacturer and the estimated cost of the buses is $23 million.
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When asked where the buses will ply, he said, "It is yet to be finalised but we are planning to send some buses to divisional headquarters."

Dhaka and New Delhi signed the deal on $1 billion line of credit with Indian EXIM Bank in August 2010. Bangladesh has so far undertaken 20 projects under the credit line.

The Indian credit bears 1.75 per cent interest a year and it will have to be repaid in 20 years with a five-year grace period.

Under the loan deal, Bangladesh will have to procure at least 85 percent of goods, works and services from India while 15 percent can be procured from Bangladesh if the contractors fail to source it from India.