Dhaka, Nov. 2 -- The government and Bangladesh Petroleum Corporation (BPC) are to jointly set up the second unit of the Eastern Refinery. The project cost has increased by more than Tk 6,000 crore due to the long wait for foreign loans. The cost of the project has risen more than threefold over the past 15 years. Therefore, without wasting any more time, the government and BPC have decided to commence work on the project with their own funds.
The total cost will be Tk 42,973 crore, of which the government will provide Tk 30,499 crore and BPC the remaining Tk 12,473 crore.
The second unit of the Eastern Refinery is being constructed with various objectives in mind, including ensuring the security of the country's energy sector, reducing th...