Dhaka, Feb. 22 -- A Tk 364.1-billion fresh project now moves for establishing a stalled second petroleum-refining unit at the Eastern Refinery Limited (ERL), ditching detractors' subtle bids for handover of the fuel business to vested quarters, sources said.

The Energy and Mineral Resources Division (EMRD) has submitted Preliminary Development Project Proposal (PDPP) to the Planning Commission for setting up the new ERL unit with an annual refining capacity of 3.0 million tonnes.

As planned afresh -- now with a cost escalation for the delays -- Bangladesh Petroleum Corporation (BPC) will provide Tk 109.09 billion for the project, while the remaining Tk 255.01 billion is expected to be secured from foreign loans. To this end, the EMRD ha...