Hyundai and Daewoo to build 225MW Bangladesh power plant

South Korea's Hyundai Engineering and Daewoo International will sign an agreement with Ashuganj Power Station for the construction of a 225MW power plant in Bangladesh.

The plant will be built in Ashuganj, 90km north-east of the capital Dhaka, within 24 months of signing the contract. It will supply power to the national grid.

Ashuganj Power company secretary Mizanur Rahman said the project is built at an estimated cost of $180m.

Standard Chartered Bank will provide taka 1108 crore under export credit agency and remaining taka 253 crore will be provided by the government from its own fund.

According to the plan, the combined cycle power plant will generate 145 megawatt power from a gas turbine and 80 megawatt from a steam turbine.