Bangladesh and China to Build Oil Pipeline

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Bangladesh has entered into an agreement with China for the construction of an 138-mile oil pipeline.

Under the terms of the agreement, storage tanks will be constructed on Bangladesh’s Moheshkhali Island, with Exim Bank of China providing the funding for the approximately $550-million project.

Currently, Bangladesh transports imported oil via ship-to-ship transfers onto small coastal tankers. Once finished, the project, which is expected to be completed by 2020, will save the country approximately $120 million annually.

 

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