Tag : CREC-BR

Dhaka: China is eyeing high-speed rail network [https://aninews.in/topic/high-speed-rail-network] projects in Bangladesh following Bangladesh Railway (BR) feasibility study for constructing the railway network between Dhaka and Chattogram [https://aninews.in/topic/railway-network-between-dhaka-and-chattogram]. In a recent development, China has proposed carrying out the project under the government-to-government-Public Private Partnership (G2G-PPP) framework, reported The Daily Star. Moreover, Dhaka has also selected China Railway Group Ltd (CREC), a state-run company, for implementing the project, which will cost more than three times the expenditure for Padma Bridge (Tk 30,193 crore). Li Jiming, the Chinese ambassador to Bangladesh, in April wrote to Railways Minister Nurul Islam Sujan [https://aninews.in/topic/nurul-islam-sujan] for signing a memorandum of understanding between CREC and BR "as soon as possible". Apart from CREC, two other Chinese companies -- China Railway Construction Corporation and China Civil Engineering Construction Corporation -- expressed interest in forming a joint venture to construct, operate and manage funds for the high-speed rail project under a PPP model. Moreover, the ambassador expected that an MoU would be inked between the two governments in the "near future" to embark on the high-speed rail project under the G2G-PPP framework, reported The Daily Star. Under the G2G-PPP arrangement, Bangladesh may request other governments to provide financial support and select state-owned or private entities to act as the investors. Prime Minister Sheikh Hasina in October 2014 had proposed constructing a high-speed rail network [https://aninews.in/topic/high-speed-rail-network] between Dhaka and Chattogram. How ...