Chinese company wins $3b railway contract

China Railway Group Limited won the bid for the Bangladesh Padma Bridge Rail Link Project with a total contract value of 20.81 billion yuan ($3.13 billion), according to an announcement released by the group on Tuesday.

The construction contract signed with Bangladesh Railway accounts for 3.33 percent of CREC's latest revenue.

The project's newly built line, starting from the existing Dhaka station to Jessore, will reach a total length of 168.6 km. With broad track gauge, the single line targets a speed of 120km per hour.

The line is projected to reshape the Southwest Bangladesh railway network by passing through the Padma MultiPurpose Bridge, Mawa, and Bhanga, and linking its middle section with the Rajbari-Kashiani Railway and Faridpur-Bhanga Railway that are already in use.

The Beijing-based company released that they will construct the line as a single project and the total construction period will last for 54 months.