Local sources report that Maisha Group has signed a Memorandum of Understanding with a Chinese company, Guizhou No 2 Power Engineering Construction Company, in a bid to construct a 10.5km elevated expressway from Aminbazar to Azimpur in the capital of Bangladesh, Dhaka.

The companies will build the expressway under a public-private partnership project and construction of the project would begin within the next five months.

Under the deal, China's Guizhou No 2 Power Engineering Construction Company would borrow US$ 500 million from the Chinese government for Maisha Group and provide all technical assistances to implement the project.

Maisha Group will pay off the money by collecting toll for 30 years after construction of the expressway, which is expected to reduce traffic on the route by 25 percent.  Maisha Group will also maintain the route.