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News » International » Bangladesh approves £1.5bn expressway » published 26 Oct 2017

Bangladesh approves £1.5bn expressway

Bangladesh's government has approved construction of a £1.5bn China-funded elevated expressway project.

Sheikh Hasina chaired the meeting that approved the project Above: Sheikh Hasina chaired the meeting that approved the project

The project was approved at this week’s meeting of the Executive Committee of the National Economic Council (ECNEC), chaired by prime minister Sheikh Hasina.

The involving an estimated cost of 169bn taka (£1.5bn) is aimed at enabling quick entry and exit of vehicles to and from Dhaka, as well as to facilitate trade in the region.

Bangladesh's Bridges Division has already signed memorandum of understanding with China National Machinery (CNM) to construct the elevated expressway from Hazrat Shahjalal International Aiport in Dhaka to Ashulia on the outskirts of the northern part of the capital.

The project will be implemented with Chinese financial assistance. China will provide nearly 109.50bn taka in loans to the project. The Bangladesh government will bear 59.51bn taka of the estimated project cost of 169.01bn taka.

 

MPU

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This article was published on 26 Oct 2017 (last updated on 27 Oct 2017).

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