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Friday, February 27, 2015, Falgun 15, 1421 BS, Jamadi ul Awwal 7, 1436 Hijr

Foreign firms propose $24b investment in power sector
Jannatul Ferdousy
Published : Friday, 27 February, 2015,  Time : 12:00 AM,  View Count : 20
State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Thursday said that world's prime companies expressed their interest in making large investments in the power sector of Bangladesh.
Investments worth of $24 billion have already been proposed for the power sector, he told this correspondent.
The present Awami League government communicated with the world largest companies for investment in the power and energy sector, he said claiming the success was near the door.
"Proposals of China, Japan, Russia, the US and the neighbouring countries are under our consideration. We want to cover 75 to 80 per cent of our demand for power by such investments," said the State Minister.   
The government signed a contract for design and supervision consultancy of 1200MW power plant in Matarbari mega power project in January involving an amount of Tk 6,229,546,503 billion under the financing of Japan International Cooperation Agency (JICA).
The total estimated cost of the Matarbari project is JPY445 billion covering construction works for power plants, deep-sea port, and navigation channel, coal handling  facilities, access roads, and transmission lines and consulting services.
Under the plan the sea port will be completed by 2019, and 1200MW power plant will go into generation by 2022, he said.
State owned CMC , a china company will set up 1350 MW coal based power plant at Patuakhali under a joint venture company named Bangladesh-China Power Company. The plant will spend less than Tk 5 for generating per unit of electricity. Now the government is buying electricity from oil based plant at Tk 18 to Tk 20.
The government took up 6000MW LNG based mega power plant project. To feed the plant it is taking steps to import LNG. In January, the government signed a contract with Qatar for importing LNG.   
According to the Power Division, the government has taken up five more power plants at Bramhanbaria and Ashuganj of 400MW capacity with an estimated cost of Tk 3,020 crore. ADB will give Tk 2,484 crore, said Nurul Alam, Managing Director of Ashuganj Power Station.  
Orgenergostroy, a Russia-based company, has won the tender to conduct engineering survey, monitor environment, and develop project documents for the Rooppur Nuclear Power Plant which Russia is going to set up.
In the short to medium term 500 MW of power will flow through Bheramera-Baharampur grid connectivity. This cross-border trading with India opens up possibility for power trading with Nepal and Bhutan as well. A negotiation for power trading with Mayanmar is also going on.

Editor : Iqbal Sobhan Chowdhury
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