HRM390 Sec-1 Summer 2022

Improvement for Mid-term Assignment (C)

“Megaprojects and its Impact to Bangladesh Economy”

Submitted by

Name ID
Farin Gloria Roy 1720096

Submitted to

Dr. A. N. M. Shibly Noman Khan

Associate Professor, Department of Human Resource Management
Independent University,Bangladesh
Table of Contents
Introduction of Bangladesh country perspectives...............................................................................................2
Name of the Maga projects.................................................................................................................................3
Loan or internal Resources.................................................................................................................................3
Impact on Bangladesh economy.........................................................................................................................5
How the HR related with mega project implementation.....................................................................................6
References..........................................................................................................................................................7
Introduction of Bangladesh country perspectives
With 50 years under its belt, Bangladesh is seeing quick economic growth. By managing the
economic shocks brought on by the Covid-19 pandemic, maintaining positive economic growth,
accelerating trade and investment partnerships, and ensuring developmental transition by launching
megaprojects and identifying various investment opportunities, it has demonstrated its capacity.
Megaprojects are multi-stakeholder, multi-billion dollar, complicated endeavors involving both the
public and commercial sectors. They affect millions in a significant way. Infrastructure megaprojects
are the essential spark for boosting economic growth for a developing nation like Bangladesh.
Bangladesh has budgeted $5.45 billion (BDT 47,283 crore) from the total yearly development
program in the current budget for 2021–2022 to undertake 12 megaprojects to boost the country's
power, energy, and communication sectors.

Name of the Maga projects

Nine floating LNG terminals at Moheshkhali, the Padma Bridge, the Dhaka Metro Rail, the Padma
Bridge Rail Link, the Rooppur Nuclear Power Plant, the Matarbari Power Plant, the Payra Deep
Seaport, the Dohazari-Bazar-Gundam Cox's Rail Line, and the Maitree Super Thermal Power Plant
are all included in the fast-track project. The long-awaited Padma Bridge was launched on June 23
after the LNG terminal was finished. The Rooppur Nuclear Power Plant in Pabna, which Russia has
implemented, is the country's first nuclear power plant, and the government has sought the greatest
allocation for it—roughly $2.12 billion (BDT 18,426 crore). The Matarbari Coal-based Power Plant
received the second-highest allocation, worth $710 million (BDT 6,162 crores). Other large-scale
initiatives are swiftly carried out. These expedited initiatives are anticipated to alter the landscape of
the growing demand for power and communication infrastructure. Bangladesh provided all the
funding for the Padma Bridge. The nation mostly relies on financial grants and assistance from
development partners China, Japan, Russia, and India for all of the ongoing initiatives. Bangladesh
wishes to keep good relationships with all parties because it is a small nation that is transitioning
from one stage of development to another. However, the US penalties against RAB and seven other
former and present officials, along with China's warning against joining the QUAD, demonstrate that
the nation is struggling with the decision of which side to support.To stay neutral and continue the
development transition, Bangladesh will have to be more cautious.
Loan or internal Resources
For all other projects, besides the Padma Multipurpose Bridge, Bangladesh has relied on loans,
grants, and aid from important development partners China, Japan, Russia, and India. China has been
Bangladesh's top trading and investment partner since 2015. China is supporting the three largest of
the nine mega projects; Japan is funding the Matarbari deep sea port and the Dhaka metro rail, and
Russia and India are each funding one project. Nine fast-track megaprojects are currently under way,
three of which are being funded by China, two by Japan (the Matarbari deep seaport and the Dhaka
Metro Rail), and one by each of Russia and India. China has been Bangladesh's top trading and
investment partner since 2015. The Padma Bridge Rail Link and the Payra Coal-fired Power Plant
are the nation's two most notable megaprojects in the fields of transportation and electricity. Debt
management for large-scale projects has been a frequent topic of discussion. Some analysts raise
concern over whether Bangladesh is falling into the "debt trap" by joining the Belt and Road
Initiative, citing the examples of Pakistan's Gwadar port and Sri Lanka's Hambantota (BRI).
However, Bangladesh's limited participation in China's BRI has helped Dhaka avoid debt issues,
unlike many other South Asian nations. For instance, because of its economic vulnerability from
being adjacent to the second deep-sea port at Matarbari, the nation canceled the Chinese-funded
Sonadia deep sea port project.. However, India, Bangladesh's closest neighbor, has not been able to
match China's substantial infrastructural investments in Bangladesh. The Maitree Super Thermal
Power Plant, the sole fast-track megaproject sponsored by India, is scheduled to start operating in
June. Other infrastructure projects supported by India are experiencing delays and increasing cost
revisions. Only 10% of the $7.36 billion in loans committed have been paid out to India since 2010.
Padma Multipurpose Bridge is a $3.65 billion government-funded project in Bangladesh. The Teesta
River Comprehensive Management and Restoration project, which would entail Chinese aid, has
been attacked in Indian media. India has not yet submitted any competitive investment bids, which
would lessen China's appeal as a source of funding for Bangladeshi infrastructure.Japan, another
trusted development partner, has supported Bangladesh through proper infrastructure development
with environmental and social considerations.

Some Mega Projects in Bangladesh: Project costing(Loan or internal Resources)

1 Padma Multipurpose Bridge
2 Dhaka Metro Rail (MRT Line 6)
BDT 301.93 billion
Estimated US$3.05 billion domestic financing.
219.85 billion BDT
The expected investments of US$2.13 billion
are being made in part by the Japan
 International Cooperation Agency (JICA).
Grants for training and preparation studies have
also been sponsored by JICA.
3 Matarbari Deep Sea Port BDT 177.77 billion
In June 2018, Japan approved a loan of US$24
million as part of its ODA program.
In addition to JICA, the Chattogram Port
Authority and the government of Bangladesh
contribute project financing..
4 Dhaka Elevated Expressway BDT 89.4 billion
Italian-Thai Public Development Company Ltd.
and two Chinese businesses are among the
private partners. loans from the Industrial and
Commercial Bank of China and the Export-
Import Bank of China.
5 Rooppur Nuclear Power Plant BDT 1.13 trillion
90% of the $12.65 billion contract's funding
comes from a loan from the Russian
government. The Russian Rosatom State
Atomic Energy Corporation is constructing the
VVER-1200/523 nuclear reactor and essential
infrastructure. A 60-40 joint venture between
the Hindustan Construction Company in India
and Bangladesh's MAX Group will handle non-
critical construction work.

Impact on Bangladesh economy

The current government of Bangladesh, led by Sheikh Hasina, planned to carry out a few large-scale
projects to provide economic and social benefits to millions of people around the country and to spur
economic growth that will benefit the general populace. These massive infrastructure projects are
anticipated to revolutionize the country's communications, transportation, ports, and energy
landscape by 2030 and assist the nation in becoming a high-middle-income country by 2041. The
construction of the $3.65 billion Padma Multipurpose Bridge, which the government of Bangladesh
self-funded, is said to have completely changed the region's economic climate and improved the lives
of millions of people on both sides of the river. Matarbari deep seaport will be able to accommodate
8,000 teu post-Panamax boats and have a 16-meter water draft, reducing Bangladesh's reliance on
feeder ships to transport export-import products from the hub ports in Singapore, Colombo, and Port
Klang. The Dhaka Metro is expected to carry over 60,000 passengers per hour with an average wait
time of four minutes. At a speed of 100 km/h (62 mph), the full journey may be covered in less than
40 minutes, saving time for workers, businesspeople, and people going to the workplace. The big
project will undoubtedly boost the economy because time is money. The Rooppur Nuclear Power
Plant will offer inexpensive power and boost the economy of Bangladesh by adding new jobs. The
new plant will boost the nation's power output and help it attain energy independence, saving the
government money on the expense of importing electricity from neighboring nations and playing a
significant role in the economy. The Karnaphuli Tunnel project is anticipated to improve tourism,
industrial growth, and trade and commerce in the area surrounding the project, resulting in the
employment of thousands of people, increased exports, and a very favorable effect on the nation's
overall economy.

Bangladesh is reportedly placing a lot of emphasis on the development of transportation and

communication, which is reportedly a requirement for becoming a developed nation by 2041,
according to the mid-term policy statement (2020–21 to 202–23). The Bangabandhu Rail Bridge
over the Jamuna River, the Dhaka-Chittagong high-speed train, the Cox's Bazar Runway extension
projects, the MRT Line-1 and Line-5, the Dhaka-Ashulia Elevated Expressway Project (DAEEP),
and the first subway in Dhaka are all ready to start construction. These planned projects represent an
excellent chance for the nation's development partners to benefit from one another. Bangladesh has
effectively maintained a balance between various powers while placing the highest priority on
economic diplomacy. Bangladesh will be removed off the list of LDCs by 2026, and this has raised
expectations for better living conditions and more amenities among the general populace. The
megaprojects help the country change its economy and become a high-middle-income nation by
2041. Naturally, Bangladesh is aware of the economic viability and sustainable funding of the
megaprojects. For the developing partners, Bangladesh's geostrategic location between South Asia
and South-East Asia, consistent economic growth, relative political stability, inexpensive labor, and a
sizable market present competitive investment prospects.
How the HR related with mega project implementation
Megaprojects are the main forces behind economic growth, necessitating extensive HRM workforce
selection and training strategies. The national and local governments are increasingly interested in
undertaking large-scale infrastructure projects, which are typically characterized by large
expenditures, protracted timelines, and a large number of consultants, contractors, and
subcontractors. Mega projects necessitate the use of extremely advanced project management
techniques, approaches, and procedures due to these features. HRM and effective leadership are two
of the most crucial elements of contemporary project management. In megaprojects, where a little
percentage of cost savings typically translates into millions of dollars, a good leader can make the
difference between a project being very successful and one that is not. There are a lot of skilled
professionals, labor, consultants, contractors, and subcontractors lacking in Bangladesh. In order to
ensure that the best workers, labor, consultants, contractors, and subcontractors are hired, projects are
created using the human resource management method. Mega-projects in Bangladesh primarily rely
on foreign architects, civil engineers, and builders. Your project development ministry's HRM
employs a large number of talented people from friendly nations.Then trains them and divides and
distributes all the task to be performed.Without HRM ,no megaprojects is supposed to be
accomplished because constructing a huge architecture requires skilled
workers,planners,financials,managers.Some insights of HRM in mega projects:

Projects Workforce by HRM

Padma Bridge For the Padma Bridge, over 14,000 domestic and foreign laborers, engineers, and
consultants toiled around the clock. Around 1,200 of them were local engineers,
2,500 were from abroad, 7,500 were local laborers, 2,500 were from abroad, and
300 were both local and international advisors..
Rooppur The majority of the 2000 foreign workers on the Rooppur Nuclear Plant Project
nuclear power are from Russia and come from eight different nations.
plant

References
https://www.thedailystar.net/news/bangladesh/development/news/all-bangladeshis-equally-share-
padma-bridges-glory-joy-3047951
https://www.researchgate.net/publication/
287198053_Human_Resource_Management_Practices_in_Bangladesh_Current_Scenario_and_Futur
e_Challenges

https://www.pmi.org/learning/library/leadership-skills-manage-mega-projects-6583

https://www.india-briefing.com/news/mega-development-projects-in-bangladesh-to-create-
competitive-market-for-investors-24830.html/