December 20, 2016 / 11:59 AM / 3 years ago

Bangladesh signs $7.5 billion railway deal with British company

DHAKA (Reuters) - Bangladesh signed a deal with Britain’s DP Rail on Tuesday to develop a $7.5 billion (6.06 billion pounds) rail track, the biggest ever railway project in the country.

The 240 kilometre rail track will run between Dhaka and Payra port, a planned new deep sea port, capable of handling large container ships with capacity for 8,000 containers or 120,000 tonnes of cargo.

DP Rail will finance the project, railway minister Mujibul Haque told reporters following the signing of a Memorandum of Understanding.

Under the terms of the MoU, DP Rail has the exclusive right to develop plans to design, finance, build and operate the railway, the company said in a statement.

Reporting by Ruma Paul; Editing by Jane Merriman

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