China Railway Pens USD1.3 Billion Deal in Bangladesh Under Belt and Road Initiative
Tang Shihua
DATE:  Dec 22 2017
/ SOURCE:  Yicai
China Railway Pens USD1.3 Billion Deal in Bangladesh Under Belt and Road Initiative China Railway Pens USD1.3 Billion Deal in Bangladesh Under Belt and Road Initiative

(Yicai Global) Dec. 22 -- A unit under state-owned China Railway Construction Corp. has struck a CNY8.5-billion (USD1.3-billion) deal in central Bangladesh to build a new double line railroad as part of the Belt and Road Initiative.

China Civil Engineering Construction Corp. [SHA:601186] penned the agreement with Bangladesh Railway Corp., the Beijing-based company said in a statement yesterday evening.

The Chinese firm will construct the 173.3-kilometer Joydebpur-Ishurdi section of the Bangladesh Railway over 48 months, including the eastern and western sections of the Jamuna Bridge, the statement said, but did not disclose further details.

Often compared with the ancient Silk Road, the One Belt, One Road initiative was proposed by Chinese President Xi Jinping in 2013. It is a grand 30- to 40-year plan for a vast infrastructure and trade route boasting a major network of railroads, highways, ports and pipelines embracing the continents of Asia, Europe and Africa.

China Railway is a major construction corporation that has built a range of high-speed rail links, highways, bridges and tunnels, it added.

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Keywords:   MSCI,TRANSPORT,Rail,Bangladesh,CHINA RAILWAY