Chinese Prez due this month

Chinese President Xi Jinping is likely to pay an official visit to Bangladesh late September, marking 40 years of China-Bangladesh friendship. Bangladesh is getting ready to sign six mega projects involving US$6.07 billion with China during the upcoming visit, according to sources in the Foreign Ministry and Economic Relations Division (ERD).
The ERD sent a list of a number of projects to China for financing, however, China has given green signal to six of the projects, ERD officials said.
In November 2014, Xi Jinping announced that China would contribute $40 billion to set up a Silk Road infrastructure fund to boost connectivity across Asia, especially with Bangladesh, Cambodia, Laos, Mongolia, Myanmar, Pakistan and Tajikistan.
However, this fund would welcome investors from Asia and beyond to "actively" take part in the project for investing in infrastructure, resources and industrial and financial cooperation focusing on China's Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative, which aim to build roads, railways, ports and airports across Central Asia and South Asia, according to Xinhua.
Chinese Commerce Minister Gao Huchen visited Dhaka last month and met with Prime Minister Sheikh Hasina and top officials to complete all necessary tasks prior to the visit of Chinese President in Bangladesh, according to diplomatic sources.
During that meeting, Prime Minister Sheikh Hasina said Bangladesh would invite the Chinese President as well as the Chinese Premier to attend the celebration of the 40 years of diplomatic relations between the two countries this year.
"The event would elevate the ties between the two countries to new heights." Both the leaders observed.
The projects in which negotiations for commercial contracts are under process are expansion and strengthening of power system network under DPDC area project involving $2.35 billion, Padma bridge rail link (phase-1) at a cost of $1.65 billion, Padma bridge rail link (phase-2) at a cost of $917 million, power grid network strengthening project under PGCB costing $1.32 billion, construction of Dhaka-Ashulia elevated expressway at $1.39 billion, modernisation of telecommunication network for digital connectivity at $200 million and establishment of full-fledged five TV stations of Bangladesh television costing $127.88 million.
The projects include construction of a marine drive expressway and coastal protection from Sitakunda to Chittagong and Cox's Bazar ($2,856.56 million), conversion of the middle-gauge rail track into a dual-gauge one from Akhaura to Sylhet ($1,756.05 million), pre-payment meeting project for the Bangladesh Power Development Board's (BPDB) distribution zones ($521.56 million), expansion and modernisation of Mongla Port facilities ($249.17 million) and extension of the existing underground mining operations of Barapukuria coal mine to increase the production capacity of the mine ($256.41 million) are also in the list.
However, China wanted to invest about $350 million in various sectors of Bangladesh for product diversification, value addition as well as enhancement of exports for mutual benefits of the two countries, the Chinese minister told the Bangladesh PM during the meeting.
According to the ERD sources, China has given an assurance to implement these six projects under limited tender. However, Bangladesh side is yet to give any decision in this regard, it is just examining the option whether the project would be implemented under limited tender or direct procurement method.
 "The signing of formal loan agreements on nearly two dozens of infrastructure projects that saw their major negotiations completed between Dhaka and Beijing on $13 billion Chinese investment will top  the talks from Bangladesh's side," a senior official of ERD said.
Officials concerned in the Finance Ministry said their highest priority would be to persuade the Chinese authorities to step up their efforts towards inking the almost negotiated draft deals at the forthcoming bilateral talks.