Mou signed to build 3,600MWs power plant

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DHAKA, July 11, 2018 (BSS) – Bangladesh Power Development Board (BPDB) today signed a Memorandum of Understanding (MoU) with General Electric (GE) to build a 3,600MW LNG-based power plant with an investment of $4.4 billion at Moheshkhali.

BPDB Chairman Khaled Mahmood and GE Power President and CEO Russell Stokes signed the MoU on behalf of their respective sides at the Bidyut Bhaban here, BPDB Director (public relations) Saiful Hasan Chowdhury told BSS.

Prime Minister’s Power, Energy and Mineral Resources Adviser Tawfiq-e-Elahi Chowdhury, US Ambassador to Bangladesh Marcia Bernicat and Power Secretary Ahmad Kaikaus were also present.

The Switzerland unit of GE will own 30 percent of the joint venture, while BPDB will hold 51 percent with the remaining 19 percent left for a future strategic investor.

The development of 5,600-acre land is estimated to cost $1.6 billion and the power plant will cost $2.8 billion.