Riyad
FULL MEMBER
- Joined
- Jul 30, 2015
- Messages
- 1,525
- Reaction score
- -5
- Country
- Location
BD, China to sign 25 projects worth $20bn
China is the largest trading partner of Bangladesh and is involved with many mega projects in the country by providing financial and technological support
Bangladesh is set to sign agreements with China for at least 25 projects worth more than $20 billion during Chinese President Xi Jinping’s two-day official visit to Bangladesh, which begins on Friday.
The amount of loan and grants related to the deals may rise to as much as $40 billion, State Minister for Finance and Planning MA Mannan told the Dhaka Tribune.
The projects include Dhaka-Sylhet four-lane highway, Padma Bridge rail link (phases I and II), Dhaka-Ashulia elevated expressway, marine drive expressway and coastal protection in Sitakunda, Chittagong and Cox’s Bazar, according to sources at the Economic Relations Division under the Ministry of Finance.
The two countries will also sign a Memorandum of Understanding (MoU) on strengthening investment and production capacity during Xi’s visit, sources said.
Besides, they will sign cooperative deals regarding the Belt and Road Initiative, proposed by Xi in 2013, which focuses on improving infrastructure and boosting interconnection among countries in Asia, Europe and Africa.
Of the projects to be signed during Xi’s visit, the cost of Dhaka-Sylhet four-lane highway is estimated at $1.6 billion, Padma Bridge rail link project at $3.3 billion, Dhaka-Chittagong railway project at $3.03 billion, Dhaka-Ashulia elevated expressway at $1.39 billion, Sitakunda-Cox’s Bazar marine drive expressway and coastal protection project at $2.85 billion, and Development of National ICT Infra-Network for Bangladesh Government (Phase III) at around $1 billion.
In addition, the cost of expansion and strengthening of power system network of Dhaka Power Distribution Company Ltd under the Power Division is estimated at $2.04 billion, and the construction of Karnaphuli tunnel in Chittagong at $703 million.
Several other projects are expected to be identified for future negotiations, said sources at the Economic Relations Division.
The countries are also in discussion on how they can work together for strengthening cooperation in blue economy and deep sea port.
Bangladesh will also offer a special economic zone for Chinese investors in Chittagong which may boost trade and investment between two nations.
It will be the first state visit of a Chinese president in Bangladesh in 30 years. The last visit was in 1986 when then Chinese president Li Xiannian visited Dhaka.
http://www.dhakatribune.com/bangladesh/2016/10/13/china-bd-sign-25-project-agreements/
- Asif Showkat Kallol
- Published at 08:44 PM October 13, 2016
China is the largest trading partner of Bangladesh and is involved with many mega projects in the country by providing financial and technological support
Bangladesh is set to sign agreements with China for at least 25 projects worth more than $20 billion during Chinese President Xi Jinping’s two-day official visit to Bangladesh, which begins on Friday.
The amount of loan and grants related to the deals may rise to as much as $40 billion, State Minister for Finance and Planning MA Mannan told the Dhaka Tribune.
The projects include Dhaka-Sylhet four-lane highway, Padma Bridge rail link (phases I and II), Dhaka-Ashulia elevated expressway, marine drive expressway and coastal protection in Sitakunda, Chittagong and Cox’s Bazar, according to sources at the Economic Relations Division under the Ministry of Finance.
The two countries will also sign a Memorandum of Understanding (MoU) on strengthening investment and production capacity during Xi’s visit, sources said.
Besides, they will sign cooperative deals regarding the Belt and Road Initiative, proposed by Xi in 2013, which focuses on improving infrastructure and boosting interconnection among countries in Asia, Europe and Africa.
Of the projects to be signed during Xi’s visit, the cost of Dhaka-Sylhet four-lane highway is estimated at $1.6 billion, Padma Bridge rail link project at $3.3 billion, Dhaka-Chittagong railway project at $3.03 billion, Dhaka-Ashulia elevated expressway at $1.39 billion, Sitakunda-Cox’s Bazar marine drive expressway and coastal protection project at $2.85 billion, and Development of National ICT Infra-Network for Bangladesh Government (Phase III) at around $1 billion.
In addition, the cost of expansion and strengthening of power system network of Dhaka Power Distribution Company Ltd under the Power Division is estimated at $2.04 billion, and the construction of Karnaphuli tunnel in Chittagong at $703 million.
Several other projects are expected to be identified for future negotiations, said sources at the Economic Relations Division.
The countries are also in discussion on how they can work together for strengthening cooperation in blue economy and deep sea port.
Bangladesh will also offer a special economic zone for Chinese investors in Chittagong which may boost trade and investment between two nations.
It will be the first state visit of a Chinese president in Bangladesh in 30 years. The last visit was in 1986 when then Chinese president Li Xiannian visited Dhaka.
http://www.dhakatribune.com/bangladesh/2016/10/13/china-bd-sign-25-project-agreements/
