China has expressed interest in investing about Tk10,000 crore to build multi-storey housing in the Gulshan, Korail and Mohakhali slum areas of Dhaka, State Minister for Local Government Mir Shah Alam said on Thursday. He disclosed the proposal after meeting Chinese Ambassador Yao Wen at the Local Government Ministry in the Secretariat, where they discussed Chinese cooperation and investment prospects in Bangladesh’s development projects.

Shah Alam said China also wants to expand investment in renewable energy, water and waste management. The two countries are advancing cooperation on producing electricity from waste, alongside the proposed housing projects. The discussion also covered strengthening political and economic cooperation between Bangladesh and China.

An event to sign a memorandum of understanding on waste-to-energy cooperation is scheduled in Beijing on September 2, according to the state minister. Ambassador Yao said China’s relationship with the current government has reached a new height and became stronger after Prime Minister Tarique Rahman’s China visit. China is also interested in investing in Chinese-language education and developing language-skilled workers in Bangladesh.