Chinese Ambassador Li Jiming sent a letter to Bangladesh Railways Minister Islam Sujan, suggesting that the memorandum of understanding be signed "as soon as possible". If China's proposal is accepted, the $10 billion project will be implemented by the China Railway Group (CREC) under a government-to-government public-private partnership (G2G-PPP).

In addition to CREC, China Railway Construction Corporation and China Civil Engineering Construction Corporation have also expressed interest in joining the consortium to finance, build and operate the line. The 225-kilometer railway line was proposed by Bangladeshi Prime Minister Sheikh Hasina in October 2014, but the cost of the plan has hampered progress. Although Bangladesh has negotiated possible projects with Japan, South Korea and China, projects under the framework of the G2G-Bangladesh Public-Private Partnership have not yet been implemented.

If the plan goes ahead, passengers will be able to travel between the two cities in 55 minutes, compared to six hours now. The plan will also give a huge boost to Bangladesh's economy as around 80% of foreign trade is currently carried by road transport.Editor/XuNing