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Bangladesh signs $550 million oil pipeline deal with China

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Bangladesh signs $550 million oil pipeline deal with China

Postby Martin Su » Mon Oct 30, 2017 3:18 am

Bangladesh has signed a $550 million contract with China to build an oil pipeline that extends offshore. This will allow Bangladesh to efficiently offload oil imports from ships and send it to onshore storage tanks.

This is one of those Chinese Friendship projects. The repayment period is 20 years with a five-year grace period. The interest rate is 2%.

This is definitely a great deal for Bangladesh. When completed, the project will save $120 million in annual "shipping and transfer costs."

The project will pay for itself in less than five years.
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Bangladesh signs deal with China to build pipeline for oil imports | The Economic Times

"Exim Bank of China will provide the funding as a loan, which is to be repaid over 20 years, with an annual interest rate of 2 percent and a five-year grace period.

The project will be completed by 2020.

State-run Bangladesh Petroleum Corp currently unloads imported oil via ship-to-ship transfers into small coastal tankers. Once the
pipeline project is completed the government will save about 10 billion taka ($120 million) annually on shipping and transfer costs, the minister said."

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