Bangladesh hopes to construct a 335MW gas-based power plant that could be 50 percent more energy efficient than conventional ones.
Electricity Generation Company of Bangladesh sealed the deal with Spain-based joint-venture company comprised of ISOLUX Ingenieria SA and Sumsung C&T Corporation for the $339.18 million project, of which the World Bank is providing $221.10 million. The Bangladesh government and EGCB Ltd will provide the rest to complete the project within the next 30 months.
With the new power plant, the share of power generation from quick rental power plants will come down to 7 percent of the country’s total power generation by 2016 from existing 21 percent, Finance Minister AMA Muhith said while speaking on the deal signing function as chief guest.
He said power consumption in the country has increased in recent years due to high economic growth, widening the demand-supply gap.
EGCB company secretary Kazi Nazrul Islam, ISOLUX Managing Director Jose Garrido and Samsung C&T Corporation General Manager Sungki Na signed the contract for their respective companies.
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