CAMC to Invest in Bangladesh Water Project, Express Says
China CAMC Engineering Co. (002501) will invest 25 billion taka ($306 million) in a water-treatment plant in Bangladesh to reduce the capital’s reliance on underground water sources, the Financial Express reported.
The Padma project will pipe 450 million liters (119 million gallons) of water to Dhaka after the first phase is completed, the report said, citing Abu Alam Md Shahid Khan, local division secretary at the Ministry of LGRD and Cooperatives in Bangladesh.
China CAMC agreed with the Dhaka Water Supply and Sewerage Authority to build the plant, which will help meet water demand in the city, the Express said. Bangladesh will spend 10 billion taka on the project, the first phase of which is scheduled for completion within 42 months, Taqsem Khan, managing director of the authority, was quoted as saying.
An e-mail and a call to the Chinese company’s investor relations department today to confirm yesterday’s report weren’t immediately answered.
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