Purbachal CBD Project: $3.6bn EPC deal signed with China Energy


5th December, 2019 08:00:59 printer

Purbachal CBD Project: $3.6bn EPC deal signed with China Energy

A consortium of PowerPac Holdings Limited and Kajima Corporation signed a $3.6-billion engineering, procurement and construction (EPC) and financing agreement with China Energy Company Ltd on Wednesday for the partial development of Central Business District (CBD) at Purbachal in the capital.

The PowerPac Holdings Ltd inked the contract at the headquarters of the China Energy Co. Ltd., Beijing, China, said a press release.

On behalf of the consortium, Ron Haque Sikder, managing director of the PowerPac Holdings Limited, and Zhang Hongming, member of the BOD, vice president of 'China Energy Company Ltd.', signed the agreement.

Under the agreement, China Energy Company Ltd will be partnering for the development works as well as arranging finance for the CBD project at Purbachal.

The PowerPac Holdings Limited., a sister concern of the Sikder Group, earlier signed another EPC and financing contract of US$2 billion with Power China, another Chinese group, for the development of some other parts of the same project about two months ago, the release added.

An iconic skyscraper will be built at the CBD project at Purbachal, a new township in the capital.

The project will be implemented with various facilities like office spaces with modern features, business centre, commercial spaces, retails, brand shops, luxurious apartments, 5-6 star hotels, convention centre, cultural centre, hospital, international school and shopping malls to modernise Dhaka’s skyline.

As per the master plan of the Purbachal New Town Project, there will be an international standard stadium with a capacity of 50,000 spectators, a world standard university, eco-park and a golf course training centre.

Rajdhani Unnayan Katripakkha (Rajuk) formally handed over a 100-acre site in December last year for implementing the project, according to PowerPac Holdings.