BPC inks $550 m deal with Chinese firm to construct oil pipeline

Staff correspondent | Published: 14:36, Dec 08,2016 | Updated: 16:16, Dec 08,2016

 
 

The state-run Bangladesh Petroleum Corporation on Thursday signed an engineering, procurement and construction contract with China Petroleum Pipeline Bureau for Single Point Mooring project to transport imported crude and diesel from deep sea to onshore depots through pipelines.

Under the contract, the bureau will construct a floating jetty in the deep sea near Maheshkhali Island and a tank farm, power plant and pump station on the island and install two 220km submarine pipelines from the jetty to the onshore storages at a cost of Tk 4,293 crore or equivalent to $550.4 million.

The project is expected to be completed by December 2018, said officials.

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