DHAKA - A State-owned Chinese company has signed a 4.49-billion taka agreement to construct a major bridge which will help faster communication between Dhaka and major river port town Narayanganj, some 30 kilometers northeast of the capital city.

Sinohydro Corporation Limited, one of the largest international companies, signed the official construction contract with the Bangladeshi government's Roads and Highways Department (RHD) on Wednesday in capital Dhaka.

The Bangladeshi government with the financial assistance from the Saudi Fund Development (SFD) has taken up the project in view of its importance in connectivity with three national highways.

"The bridge will establish an alternative route to bypass congested Dhaka city and facilitate connectivity with Dhaka-Chittagong, Dhaka-Sylhet and Dhaka-Mawa national highways," project profile mentioned.

It further said construction of the bridge will also help establish a direct road communication between two commercially important Narayanganj sub-districts (Bandar and Sadar).

Ebne Alam Hasan, chief engineer of Bangladesh's Roads and Highways Department and Lv Liushan, vice president of Sinohydro Corporation Limited, inked the deal on behalf of their respective sides at in capital Dhaka.

Bangladeshi Road Transport and Bridges Minister Obaidul Quader, among others, was present at the deal signing ceremony.

Bangladeshi Prime Minister Sheikh Hasina had earlier laid the foundation of 3rd Shitalakhya Bridge through a video conference with Communications Minister Obaidul Qader at Narayanganj, which is one of the country's important business hub since British period.

Hasina had then reportedly said the project would be epoch making steps for better connectivity between Dhaka and Narayanganj as well as development of the surrounding areas and economic condition of the people. The bridge will be four-lane.

Of the total funds, the SFD will provide nearly 4 billion taka while the rest will be borne by the Bangladeshi government.

RHD and SFD have already signed a contract for the construction of the 1.2 kilometer bridge over the river Shitalakhya. (1 US dollar equals 82 taka).