Two Bangladeshi students were killed in car crash on a major Sydney road, said Australian police officials.

Two men, believed to be about 20 years old, died after a car crashed into a power pole on Canterbury Road in Belmore, in Sydney’s south-west, about local time 3:40am on Wednesday, reports ABC News.

The deceased are Fahim Rahman Aunik, student of University of Technology Sydney, and Rayan Hassan, student of Charles Darwin University, said an unofficial source.

A third man, reportedly named Rifat Mustafa, was taken to St George Hospital in a critical condition.

The Traffic and Highway Patrol Command Superintendent Stuart Smith said speed was a factor in the crash.

‘The vehicle basically disintegrated when it hit the power pole,’ he said.

Police after examining a number of other vehicles from that scene said they are ‘not ruling out a street-racing event.’

‘The background of the drivers is three Bangladesh students, probably all 20 years of age,’ said the superintendent.

The police said in relation to the driver and exactly what has unfolded, the circumstances are not clear and are being investigated.

Stuart Smith said: ‘When emergency services arrived, those that were in the best conditions were removed first and it was only recently that the third occupant was removed deceased.’

He said the police crash investigations unit was now in charge of the investigation.

Officers have spoken to the occupants of a white Nissan Skyline which was at the scene.

The Skyline's driver Ahshanul Fakhru denied the cars were racing and said the other driver, a friend, may have been having problems with his car.

‘He lost control somehow and he was behind me and I heard him sliding on the road,’ Mr Fakhru told News Corp.

Police were still trying to locate the victims' families on Wednesday.