The government has approved a proposal to award a Tk 125.66 billion contract to a Chinese company to construct the Dhaka-Ashulia Elevated Expressway (DAEE).
The 24-kilometre expressway will be built on a turnkey basis, decided the Cabinet Purchase Committee.
As per the schedule of the engineering, procurement and construction (EPC) contract, China National Machinery Import and Export Corporation (CMC) will complete the project by June 2022, reports UNB.
Bridges Division officials said China Exim Bank is financing a major portion of the total cost of the project and the Chinese government has selected the CMC as its contractor.
The cabinet body gave the approval to the proposal placed by the Bridge Division of the Road Transport and Bridges Ministry at a meeting held with Finance Minister AMA Muhith in the chair.
Briefing reporters on the outcome of the meeting, Additional Secretary of the Cabinet Division Mustafizur Rahman said the Chinese company will start the job as soon as the formal contract is signed between the government and the contractor.
According to the Bridge Division proposal, the 24-km DAEE project will be connected with the proposed Dhaka Elevated Expressway at the Shahjalal International Airport point.
Its other end will be liked to the national highway at Chandra to facilitate the road communication with 30 districts.
Once the DAEE is implemented, the project will be connected with Asian Highway network and all most all national highways to reduce tailback on Abdullahpur-Ashulia-Bypile-Chandra corridor, said the executive summery of the project.
The government allocated a fund of Tk 16,901 crore for the project in which China Exim Bank will provide Tk 10,950 crore as "Chinese Government's concessional Loan and Preferential Buyer's Credit".
Beyond the 24-km elevated expressway, the project also include construction of 10.843 km ramp, 1.92 km Nabinagar Flyover, reconstruction of 14.28 km 2-lane service road, construction of two bridges each having a length of 2.72 km, 500 metre overpass, 18 km drainage and 5 toll plazas.