ADB to provide $300m loan for Ctg-Cox’s Bazar railway

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MNA Business Desk: A total of two contracts would be signed between Bangladesh government and the Asian Development Bank (ADB) worth of US$ 300 million at Sher-e-Bangla Nagar for Chittagong-Cox’s Bazar Railway Project, Phase-1-Tranche-1under South Asia Sub-regional Economic Cooperation (SASEC), said an official of Economic Relations Division (ERD).

The objective of the project is to construct the Single Line Dual Gauge (DG) Railway Track from Chittagong to Cox’s Bazar via Ramu to Gundum in Myanmar, the official said.

Rail connectivity to Cox’s Bazar will boost tourism as Dhaka’s passengers will be able to reach the coastal resort city in only six hours – four hours faster than the current quickest route by road. Even the journey from Kolkata will be only a matter of 16 hours, according to the project.