Bangladesh Railway has inked a deal with US-based company Progress Rail to buy 40 new broad-gauge locomotives in Dhaka today.
Md Shamsuzzaman, additional director general of Bangladesh Railway, signed the agreement with Patric O’Donnel, senior vice-president of Progress Rail, at the Railway Bhaban, according to a statement of Bangladesh Railway.
As per the deal, Progress Rail will deliver the engines within 24-36 months, the statement read.
Purchase of the new engines will cost Tk 1,123 crore and 5 lakh, funded by Asian Development Bank (ADB), it also read.
Railway Minister Md Nurul Islam Sujan, who was present during the deal signing ceremony, said that he will try to bring timely development to the railway service in the country.
At present, BR has 94 broad-gauge locomotives, among which economic life span of 55 engines has expired and those need to be replaced soon, according to the statement.