As the government plans to introduce high-speed electric trains in the country for long-distance journeys, a UK based company IM Power has proposed to invest in developing the infrastructure.
With the support of 10 foreign institutions the IM Power has already shown keen interest to implement the proposal.
And the proposal involving $ 12 billion will be implemented in three phases.
The authorities concerned are hopeful that immediate after conducting the experiment, they will be able to start working on the project.
In this regard, a delegation of IM Power will visit the capital Dhaka next month to discuss the issue.
IM Power is an independent power producer (IPP), providing a comprehensive solution for its customers by combining its expertise in financing power generation, integrated power and industrial infrastructure projects together with EPC, operation and maintenance services.
This high-speed electric train can run up to 160 kilometers per hour, which makes it one of the fastest trains in the country.
The country now only operates diesel-driven trains and it will witness its first electric trains with the launch of Dhaka's metro rail.
The government hopes to launch the long-distance high-speed electric trains after the implementation of the project.
On the other hand, the feasibility study of the hi-speed train service on Dhaka-Chittagong route is being carried out
Besides, two projects--Padma Rail Link and Dohazari-Cox's Bazar-Gundum Rail Line--of the ten fast-track mega projects of the prime minister's Delta Plan, will be completed soon.
The IM Power submitted its proposal to the Bangladesh Investment Development Authority (BIDA) showing keen interest to construct a double track high-speed rail line from Payra Port to Dhaka.
To implement the first phase of the four-year project requires $ 5.5 billion dollar, IM Power said adding while the second phase of the project requires a funding of $ 6 billion dollar to construct the high-speed railway track from the Padma Bridge to Dhaka and Dhaka to Matarbari Port via Chittagong.
And it has been estimated that $ 214 million dollar will be required for implementing the third phase of the project.
The IM Power has also proposed to set up power supply lines along the railway tracks.
In the proposal, IM Power will implement the project in Bangladesh on the basis of public-private partnership (PPP) through a contract group or consortium.
Companies in the contract group include railway engineering farm Advisian, Tenbroeke, British Steel, Siemens, WH Davis, Green Energy Group, Wood plc, Liberty Steel and HR Wellingford.
According to the concerned officials, IM Power made the initial proposal for the bid in November 2019.
