India's Lanco to set up Bangladesh's Bhola Power Plant
The Bangladesh Power Development Board has engaged Indian firm Lanco for setting up of the Bhola 217.9 MW gas-fired Combined Cycle Power Project.
PDB Secretary Azizul Islam and Lanco Chief Operating Officer Nauman Ahmed signed the agreement on their respective sides at Bidyut Bhaban.
The Project being set up at a cost of US$ 182.6 million will be funded by international donors such as ADB, FMO, OFID, DEG as well as have 25% equity participation of Lanco.
Signing of this agreement has also fulfilled a long- time demand of the people of Bhola for the construction of a power plant after the discovery of gas, he added.
As per the agreement, Lanco International will complete the construction of this gas-fired power plant by the next 26 months. Around 32 mmcfd gas will be supplied to the plant daily from the Bhola gas field.
The Project is expected to obtain financial closure in the next nine months and will be ready to produce power within the next 20 months.
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