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The Financial Express

Bangladesh cancels Chinese road construction project


Evaly and Fianancial Express Evaly and Fianancial Express
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Bangladesh has cancelled a road construction project with a major Chinese company which was building the Dhaka Sylhet highway on charges of attempting to bribe Bangladeshi officials.

Government has also blacklisted the firm from participating in any future ventures, according to a Voice of America report.

'"China Harbor Engineering Co., Ltd. (CHEC) has been blacklisted by the government of Bangladesh for bribing government officials and will not be allowed to participate in any future construction projects in Bangladesh," the report quoted Bangladeshi Finance Minister AMA Muhith from an interview given to a local media.

The company, in the past, has undertaken some well-known projects, including Pakistan's Gwadar Port and Sri Lanka's Hanbatota Port.

The company, according to Muhit, was found bribing newly-appointed director of the Bangladesh Highway Transport and Bridges Department for the purpose of diverting project funds.

The finance minister said about 5 million Taka Bangladesh (about $ 60,000) were offered to him.

Muhit said due to the bribe incident they had to "cancel the cooperation of this project" and blacklist the company.
According to the report, uneasiness has been simmering between the two nations for a while now due to the terms of investments and then over other bribery-related incidents.

In October 2016, when Xi Jinping visited Bangladesh, he lent USD 21.5 billion for 26 projects, reports ANI.

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