China and Bangladesh to Construct Oil Pipeline

Posted on

Bangladesh has entered into an agreement with China to build 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.

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

Find articles with similar topics