The group has proposed to build the 198-km highway at a cost of $884 million on build, own, operate and transfer (BOOT) basis. It will run through Narayanganj, Munishiganj, Matlab, Chandpur, Laxmipur, Sonagazi, Feni, Mirersharai, Hathazari to Chittagong.

The consortium comprising four leading Malaysian builders has proposed that the self-financing project will be completed in five years after the approval. The disclosure came at a presentation yesterday by Mannan Bin Amir, chief executive officer (CEO) of the consortium, at Dhaka Sheraton Hotel.

Kazi Solimul Haq MP, Malaysian High Commissioner in Dhaka Abdul Malek Bin Abdul Aziz, Vice-President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Dewan Sultan Ahmed were Present.

The government is now expanding the existing Dhaka-Chittagong highway to four-lane with a view to easing the growing pressure on it.

The alternative highway, if approved by the government, will reduce the distance between Dhaka and Chittagong from 264-km to 200-km, the discussants said.

Replying to queries, Mannan Bin Amir said they have sought a concession period of 35 years. Apart from the five-year construction period, the group has sought a 30-year toll collection period to repatriate their investment. As per the proposal, 20 percent of the construction work may go to local companies.