China wins US$3 billion bid to build rail line in Bangladesh
China Railway Group, one of the world’s largest construction companies, said it has won a US$3.1 billion project to build a rail network in Bangladesh, according to company’s filing with the Hong Kong Stock Exchange on Tuesday.
The rail link will connect capital Dhaka to Jessore in southwestern Bangladesh, a distance of 168.6 kilometres, with the train designed to run at a top speed of 120 km/h, China Railway said. Construction will take 54 months to complete, the company said.
Chinese companies, backed by the government’s diplomatic and economic clout, have been snapping up infrastructure projects across Asia under the “One Belt, One Road” initiative.