Out-Law News | 27 Nov 2019 | 4:09 pm |
A Chinese and Bangladeshi joint venture has signed a deal with the Bangladeshi government to implement a water project valued at nearly 6 billion taka ($72 million), in Dhaka's Purbachal new township, under a public private partnership (PPP) initiative in Bangladesh, according to Xinhua net.
Chinese United Water Corporation and local company Delcot Water Limited jointly secured the deal to develop water distribution and supply facilities at Purbachal new township through a public private partnership. The project will be the first PPP water project in Bangladesh.
Officials said the Purbachal new township will get water supply through 15 deep tube wells until another project is completed to bring in water from the river Meghna.
This is not the first infrastructure project in Bangladesh under China's belt and road initiative. Early in 2016 China announced investments worth $24bn and the two agreed to have deeper cooperation on belt and road initiative in July that year.
According to an earlier report from China.org.cn, China has pledged around $38bn in aid, loans and a few infrastructural projects assistance to Bangladesh under the belt and road initiative as of this September. China has started implementing $10bn worth of infrastructure projects in Bangladesh since last March, according to China Daily, those projects include the Chinese Economic and Industrial Zone, Payra Power Plant, the 8th China Bangladesh Friendship Bridge and the International Exhibition Centre.
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