The company -- American Transport System Corporation (ATSC) -- has already talked to the authorities of Equalizer, a local private firm, to implement the project on a partnership basis, concerned sources said here yesterday.

A six-member delegation led by Chairman of ATSC is expected to arrive in Dhaka on February 6 to discuss the project with the authorities concerned, said Chairman of Equalizer M Younusuzzaman.

Talking to newsmen at the Jatiya Press Club, he said according to the proposal submitted earlier to the Board of Investment (BoI) nearly 100-kilometre rail lines would be set up under the project that includes 40-KM line from Narayanganj to Joydevpur, nearly 40-km from Sadarghat to Savar and 20-km circular rail line.

"Initially, the project cost has been estimated at Tk 5,000 crore," he said, adding that if the proposal is accepted by the government, the project would be built in a BOT (Built-Operation and Transfer) basis.

Giving a salient feature of the scheme, he said under the project a 50-megawatt power plant would be set up for meeting electricity requirements to run trains between the routes and passengers from each stations would be able to avail train in every three minutes.

He said after the government approval, the project would be completed within four years and one million people will be transited every day with the introduction of the "Light Rail Way Transport (LRT)" system. Apart from this, some 3,000 new jobs would be created in the project.

Younusuzzaman said although the ATSC would be the main investor of the project, its other sister concerns, including Vince Construction Company of UK, Bombardier of Germany and Systra of Philippines, would be involved with the implementation of the total project.

"Initial discussion between local partner Equalizer and main investor ATSC has been completed to this end. Now the foreign investing companies will discuss the project with the government," he added.

M Anwarul Quaium, Chief Executive Officer (CEO) of Equalizer, said the rail line would be constructed on the existing road divider and the height of the rail line would be 33 feet. "We have floated the idea as introduction of much-talked about metro tube is not feasible for the country due to its soil condition," he added.

He said after full implementation of the project, the traffic congestion in the city would be eased as well as pressure on the capital city would be reduced significantly.

The ATSC has constructed light rail transport line in India, Taiwan, South Korea, Philippines and Malaysia. In New York, over five million people are being transited through sky rail line every day.