Bangladesh signs rail restoration deal with Indian firm

August 19th, 2011 - 1:22 pm ICT by IANS  

Dhaka, Aug 19 (IANS) Bangladesh Railway has signed a $15 million deal with an Indian firm for restoration of railway tracks in the country.

The deal was signed with construction firm Kalindi Rail Nirman Limited (KRNL) for restoration of a 55-km-long railway track, Bangladesh Railway general manager Yusuf Ali Mridha told Xinhua.

Mridha signed the agreement Thursday with KRNL vice president M.K. Grovar. He said the entire cost will be provided by the Bangladesh government and the work is expected to be completed in 18 months.

KRNL is a Rs.100-crore ($ 22 mn) company which is engaged in railway signalling, telecom, tracks. Its clients include the Delhi Metro and the Bangalore Metro. It is also listed on the Bombay Stock Exchange.

Communication Minister Syed Abul Hossain and Foreign Minister Dipu Moni were present at the signing ceremony.

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