Padma Oil inks deal to construct multi-storey building in Dhaka

The Padma Oil Company Limited is going to construct a 12-storey building in the capital’s Paribag area.

The project will start in January 2022 and end in June 2025 (three years six months). It will cost Tk 393.06 crore.

A deal with the contractor company was signed Sunday. State Minister for Power, Energy and Mineral Resources Nasrul Hamid attended the signing event as the chief guest.

He said that buildings should be made visually pleasing by keeping the environment intact and without disturbing the neighbours. He also emphasised the following of construction codes.

The state minister said it is necessary to appoint a financial consultant to assess the existing assets of Bangladesh Petroleum Corporation (BPC).

The minister said the monitoring must be enhanced to expedite project implementation. He also laid the foundation brick of the project.

He also said that efforts to make automation and paperless office must be continued, adding that if project implementations are done according to the 'business model' then quick success will be achieved.

Padma Oil Company Limited's will be 12 storeys high with two basements.

The government-subsidised building is headquartered in Chattogram. In order to expand the company's business in the capital, 1.8 acres of land was purchased in 1951in Paribagh, Dhaka.

The building will have commercial and residential spaces. The rent from the additional floor will increase the revenue of the company.