French firm Technip, which is keen to clinch the contract for building the country's second crude oil refinery, has revised down the estimated cost of its construction to US$ 2.23 billion.
The oil refinery will have an annual capacity of 3.0 million tonnes.
The revised cost of this project is around 20 per cent lower than the cost of $2.80 billion as estimated by Technip initially, a senior BPC official said.
But the Indian consultant for project management of this work has opined that the cost might be significantly lower if it is built through tendering, he added.
The Indian consulting firm, Engineers India Limited (EIL), has also estimated that the cost might be around $1.80 billion if the engineering, procurement and construction (EPC) contractor is selected through competitive bidding.
The project cost is expected to be provided by the government and the state-run Bangladesh Petroleum Corporation (BPC).
