Padma bridge to boost local economy
Since the inauguration of construction works of Padma Bridge Project — a hefty, vigorous mega structure and the mega project of the nation’s infrastructural history will ensure presence across the Padma River. The establishment is expected to lift the national and local economic struggles from pitiable conditions towards a new systematic, dynamic methodical and scientific mode of success. On 12th December 2015 Prime Minister Sheikh Hasina inaugurated the main works of the concrete and metallic moniker ‘Padma Bridge’ across the wide, irritated natural waterbody ‘Padma River’ in order to connect the banks of the river and people living on both sides.
The multipurpose road-rail-bridge is transpiring with around 89.25% of the construction of the 6.15-kilometre-long two-tier Padma until November 2020. It has total of 42 pillars, each with six piles beneath, 41 steel spans in total of 150.12 m (492.5 ft) long. On 27th November 2020, construction of 42 pillars out of 42 has been completed. The final (41st) span of the bridge was installed on 10 December 2020 at 12:02 PM. The highest depth of pile of this bridge is 122 metre, which is highest among all other bridges in the world.
The Padma Bridge construction is progressing on the country’s own resources. It has connected Louhajong, Munshiganj to Shariatpur and Madaripur, linking the south-west of the country, to northern and eastern regions. It is the most challenging construction project in the history of Bangladesh. The two-level steel truss bridge will carry a four-lane highway on the upper level and a single-track railway on a lower level. The bridge, 6.150 km (3.821 mi) total length and 18.18 m (59.6 ft) width, is going to be the longest bridge in Bangladesh.
The bridge will impact establishing better domestic trade and economic and social development. Following an earlier report by Asian Development Bank and its Manila consultant’s assessments, the Economic Internal Rate of Return (EIRR) of the bridge is estimated at 20 percent while the standard rate is 12 percent. The rate is assessed by accumulating benefits of travel time and savings in fuel, utility connections, productivity gains, increase in traffic volume, freight service and employment generation. The study also indicates It would also enable quick movement of goods and passengers’ traffic by roads and by rail across the river.
The linked region by the bridge that covers nearly 27 percent area of the country will annually see a further 1.7 percent GDP growth and the country another 0.56 percent growth when the bridge comes into operation. The local and national economy will be found impact on price, volume, factor movements, the macro-economy, welfare and poverty incidence directly from the operation.
Enabling the shipments of raw materials simply to suppliers, factories, warehouses, distributors, stores, and finished goods to the end-consumers the project will bring changes visibly. Around 29% growth in construction, 9.5% in agriculture, 8% in manufacturing and transport, poverty drop by 1% in the region, .8% nationally, GDP growth by 1.7% in connected region, .56% country wide, new employment and business opportunities for regional people will be possible.