Korea Expressway Corp announced on 30 June that it has signed a 104-billion-won contract with the Bangladeshi government to operate and manage the country's N8 Expressway.
The N8 Expressway is a 55-km, four-lane highway and is the first expressway in Bangladesh.
It is Asian Highway No. 1 that connects Dhaka, the capital of Bangladesh, and Bhanga in the southwest of Dhaka.
This contract is the second overseas road operation and management project won by Korea Expressway Corp, following the Padma Bridge project, reports Business Korea.
Korea Expressway Corp will install Hi Pass automatic toll service and intelligent traffic management systems on the N8 Expressway and conduct toll collection, road and structure maintenance, safety patrol and disaster management, etc for five years after opening the systems.
The operation of the expressway already started on 1 July.
Korea Expressway Corp will implement advanced highway operations such as the Hi-Pass automatic toll service for sections including Padma Bridge which are a total of 75km long, and lay the groundwork for private Korean companies with excellent road operation technology to advance into the Bangladeshi market.