Bangladesh

$7.5 billion investment for Payra Rail

port layout at payra
Payra Port layout

Foreign direct investment from British company to connect Dhaka and Joydevpur

The much-needed railway connection between Dhaka and Joydevpur is being looked over by the government. They will examine the possibility of developing a 280 km rail line; which will be funded by DP Rail, a company based in the United Kingdom.

It was informed that DP Rail will inject USD 7.5 billion into the project and will work with the Bangladeshi government to design, build and operate the new Dhaka-Payra seaport rail link project based upon Foreign Direct Investment (FDI).

The port of Payra was opened in August this with the objective of making it a deep sea port that would act as the second port of Bangladesh, but with limited funding, only the first point of the project has achieved.

The port is expecting to grow completely operational by the conclusion of 2018. According to the Payra Port Administration. The Payra Port, once it becomes completely operational, will be able to accommodate vessels with assignments from eight to ten meters to commentator.

The port is awaited to assist filling and unloading of assets more quickly than Chittagong port, the largest port in Bangladesh, which now controls 92 percent of the country’s export and import.

The companies headquartered in London will bring in their knowledge, experience, and expertise; to combine, organize and direct all facets of a railway to ensure that it is designed and built as a whole system. They will work together with China Railway Construction Corporation Ltd.

The development of rail link is an integral part of the government’s 2022 vision, which is to create a main seaport for the country.

A government official from the rail ministry stated that DP Rail had submitted a proposal for the development of the railway line, and the end of September will make a final decision by the Prime Minister’s Office.

He further added that the British company’s proposal was inclusive of the building of a central container station and a landing port at Payra; which are a crucial part of the project, to make Joydevpur a main seaport for the country.

There were interest from five companies, including DP Rail initially rail link project.

Payra is in the Bay of Bengal and has great possible to become an international seaport, but its road and rail connections with Dhaka and other parts of the country are in bad condition currently.

($1 = 78.32)

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