Bangladesh has initiated a test run of its Single Point Mooring project, enabling the transportation of 82,000 tonnes of imported crude oil from a vessel to the refinery through 220km of pipelines. The project is estimated to reduce transfer time from 12 to 3 days, resulting in substantial cost savings. With an investment of Tk8,341 crore, it is projected to save around Tk800 crore annually. Upon successful testing, Prime Minister Sheikh Hasina is scheduled to inaugurate the project in August 2023. The initiative will enhance fuel reserves, increase storage capacity by 20,000 tonnes, and boost the Eastern Refinery’s crude oil processing capacity from 15 lakh to 45 lakh tonnes per year. The project received financial support from the Exim Bank of China, and the remaining funding is covered by the government and Bangladesh Petroleum Corporation.
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