Wednesday, 22 September 2021


China's funding to offloading oil in the deep sea

Newsg reporter 29 October, 2017, 11:28:57

  • China's funding to offloading oil in the deep sea

DHAKA: Bangladesh will offload the imported fuel oil from the ship in deep sea. Due to this, a project called 'Single Point Mooring (SPM)' is being taken in. It is worth 44 billion taka, most of which China is financing.

The agreement will be signed between the Economic Relations Division (ERD) and Exim Bank of China at the NEC conference room in Sher-e-Bangla Nagar tomorrow.

Flexible interest rates will be 82.5 million dollar out of $ 555.4 million dollar. The remaining 467.8 million dollars will be available as a supply loan (buyer's credit). Bangladesh will return the loan to China in 30 years, including a five-year rebate.

New single mooring will be able to offload 1 lakh and 20 thousand metric ton of crude oil in 48 hours and 70 thousand metric ton of diesel in 24 hours . The amount of annual acquisition will be 90 lakh metric tons.


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