METRO RAIL PROJECT NEEDS FURTHER SCRUTINY

The cabinet committee on economic affairs today sent back the proposal on underground metro rail project and offshore oil and gas exploration bids for further scrutiny.Earlier a 17-member high-powered committee was formed to oversee the Tk 21,390 crore metro rail project for the capital.The committee was tasked with determining the major terms and conditions and a timeframe for the project, monetary allocation and user's charges and fees.At today's meeting presided by Finance Minister AMA Muhith, the energy ministry placed the proposal of offshore oil and gas exploration bids by two international oil companies in three blocks of the Bay of Bengal.It placed its recommendations for awarding shallow water block SS-08-05 to Irish company Tullow Bangladesh and deep sea blocks DS-08-10 and 11 to US company Conoco Phillips South Asia New Ventures Ltd.