The Malaysia based Azimat Consortium last year proposed to build the six-lane expressway spending about $900 million on built, own, operate and transfer (BOOT) basis.

"The proposal of constructing the Dhaka-Chittagong expressway is on the agenda of this week's cabinet meeting and I hope it would get the nod," said a cabinet minister requesting anonymity.

The 210 km-long expressway will be set up in a different alignment from the existing Dhaka-Chittagong Highway via Narayanganj-Mirsharai and will establish a smooth and direct road link between the port city and the capital reducing the travel time to three hours from the existing 5-6 hours.

The consortium would operate the expressway equipped with necessary facilities including refuelling stations, parking space, rest houses, mosques etc. There will also be booths for collecting tolls to pay off the investment.

After operating for 30 years the expressway would be handed over to the government, according to the proposal.

Earlier, the communication ministry scrutinised the proposal and sent it to the Private Infrastructure Committee (PICOM) and later to the cabinet for final approval.

The delay in approving such an investment proposal by a Malaysian consortium was cited as one of the causes behind the hold-up in recruiting fresh manpower from Bangladesh. Malaysia has stopped employing Bangladeshis since 1997.

The Malaysian high commissioner in Dhaka has already hinted at shifting investment proposals of $1.5 billion by Malaysian companies, which have been pending for long.

In addition to the expressway construction, the Malaysian consortium also proposed to set up two power plants and invest in telecommunications sector.

However, the BNP-led four party alliance government hardly approved any of the investment proposals of the Malaysian companies, turning the relations between two countries cold, sources said.