China’s Jiangsu Etern Co Ltd has signed a four and a half year, $1.1bn deal to strengthen the Bangladeshi power grid network.
The news comes ahead of a visit to the country by Chinese President Xi Jinping and feeds into Xi’s “One Belt, One Road” plan, under which China is seeking to open new trade routes and markets as its economy slows.
Etern, which produces mainly cables and communications equipment, has had other deals in Bangladesh, including a winning bid for a power plant project for $304.6m in August.
Nearly two-fifths of Bangladesh’s 160 million people do not have access to electricity, according to the World Bank.
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