$3.6bn agreement signed to develop central business district in Purbachal
Under the agreement, China Energy Company Ltd will be partnering for the development works as well as arranging finance for the project
The consortium of PowerPac Holdings Limited and Kajima Corporation on Wednesday signed a $3.6 billion agreement with the China Energy Company Ltd for partial development of the central business district located at Sector-19 of Purbachal, Dhaka.
PowerPac Holdings, a sister concern of conglomerate Sikder Group, inked the contract at 3:00 pm (Beijing time) at the headquarters of the China Energy Co Ltd in Beijing, China.
Under the agreement, China Energy Company Ltd will be partnering for the development works as well as arranging finance for the project, according to a press release.
Keep updated, follow The Business Standard's Google news channel
Senior officials from both organisations were present at the signing ceremony.
Previously, PowerPac Holdings Limited had signed another agreement of $2 billion with Power China for the development of the Iconic Tower about two months ago.
The Iconic Tower will be built at the central business district in Purbachal. It will host modernised office spaces, business centres, commercial spaces, retail shops, luxurious apartments, a five-star hotel, a convention centre, cultural centres, a hospital, a school and shopping malls.
As per the master plan of the Purbachal New Town Project, there will be an international standard stadium with a capacity of hosting 50,000 spectators, a university, an eco-park and a golf course.
Rajdhani Unnayan Katripakkha (Rajuk) formally handed over the 100-acre site in December last year.
