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China has agreed in principle to invest around Tk10,000 crore in a housing project to modernise three major slums in Dhaka—Korail, Sattola and Bhashantek.
Chinese Ambassador to Bangladesh Yao Wen gave the assurance during a meeting with Local Government Minister Dr Abdul Moin Khan at the Secretariat on Thursday.
State Minister Mir Shahe Alam said the proposed project would build 20-storey residential buildings with units of around 600–650 square feet. Existing slum residents would be gradually relocated to the apartments and would not have to pay monthly rent, though they would cover utility costs.
The government has submitted the proposal to China through the Economic Relations Division. If China cannot provide the full investment at once, it has agreed to fund the project in phases on a priority basis.
The two sides also discussed Chinese investment in waste-to-energy, sewage treatment and solar power projects. A Chinese company is working on a project at Aminbazar landfill that is expected to generate 42MW of electricity for the national grid within 18 months.
Bangladesh has also sought Chinese support to fully operationalise the Dasherkandi sewage treatment plant and to generate 40–50MW of electricity from waste at Dhaka South City Corporation’s landfill.
Discussions also covered skills development, Mandarin-language training, investment in the Chattogram economic zone and Mongla Port, and stronger political and institutional ties between the two countries.