DHAKA — A Bangladesh-China Joint Venture company will construct a leading private university's academic building in Dhaka.

An agreement was signed here Monday between the BRAC University and the commercial alliance of China's Beijing Urban Construction Group (BUCG) and Bangladesh's Associated Builders Corporation Ltd (ABC).

The treasurer of BRAC University, and the vice president of BUCG International and authorized representative of BUCG-ABC JV signed the agreement of $87 million for the steel and concrete structure building on behalf of their respective sides.

Tony Tao, BUCG business manager, told Xinhua that the 13-story academic building will be constructed and completed in two and a half years.

BRAC University, established in 2001, has about 8,000 students.

The new building is planned to host a campus bookstore and auxiliary services and is intended to be an icon for the campus.