The government of Bangladesh in a joint venture with Bahrain will install a 750MW power plant at Kodda in Gazipur by 2014.
The Rural Power Company Limited of Bangladesh and the Energy Fund Holdings Limited of Bahrain will install the joint venture plant at 30 acres of land with an estimated cost of US$700 million, RPCL managing director Abdus Sabur said recently.
He said the construction of the plant will begin in January, 2012. “500MW gas turbine unit of the plant would commission on December, 2013 while another 250MW combined cycle unit would start operation on October, 2014,” RPCL managing director Abdus Sabur said.
He said a 4-5 member high-powered team of Bahrain would arrive in Dhaka to finalise the deal and other necessary procedure by December this year. The Energy Fund Holdings Limited of Bahrain has already assured of mobilising loan for installing the plant, according to him.
Islamic Development Bank of Saudi Arabia and Malaysia would provide US $400 million and US$200 million respectively while the rest of the fund would come from local sources.
Total 55 percent of the equity of the plant would belong to Bahrain while the rest 45 percent to RPCL. Clarifying the equity sharing, RPCL managing director said, “55 percent share of the plant will belong to Bahrain as they would mobilise the loan with high risks.”
Petrobangla director Dr Mollah Md Mobirul said that the Petrobangla would be able to supply 120million cubic feet gas for the power plant.
He said the Petrobangla has installed two separate pipelines between Bibyana-Danua and Ashuganj and two separate compressors to supply additional gas in Dhaka and across the country.
Petrobangla has already committed to supply additional 2000mmcfd of gas by 2013 for different power plants across the country.
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