A Chinese and Bangladeshi joint venture on Thursday signed a deal with the Bangladeshi government to build a mega expressway under the country's first major public private partnership (PPP) initiative.
Sichuan Road and Bridge (group) Co., Ltd has won the deal jointly with local Unique Dream Consultant and Shamim Enterprise Limited to construct the 48-km Dhaka Bypass Expressway.
The expressway, connecting Joydevpur, Debugram, Vulta and Modonpur, will establish an easy link for the industrial belts around Dhaka with the seaport city Chattogram and northeastern Sylhet region bypassing the capital city.
According to the Asian Development Bank, the bypass road will help alleviate traffic congestion in the city center, enhance road network connectivity, meet economic/traffic growth targets, and reduce CO2 emissions and air pollution.
The expressway will help improve Bangladeshi transportation infrastructure, promote local economic development and increase local employment, and it has been a platform for exchanges between China and Bangladesh, said Yang Rugang, representative of the joint venture company.
"Together, we will strive to set a benchmark for highway construction in Bangladesh and make an important contribution to the construction and development of Dhaka city transportation system," said Yang.