Deal signed for 225MW power plant
Star Business Report
South Korea’s Hyundai Engineering Company and Daewoo International Corporation yesterday signed an agreement with Ashuganj Power Station Company to build a 225-megawatt power plant in Ashuganj.
The project will cost Tk 1,361 crore. Standard Chartered Bank will finance 80 percent of the cost, officials said during the signing at the Bidyut Bhaban in the capital.
Kim, Ok Chul, senior executive vice president of Hyundai Engineering; Chan-Kun Han, executive vice president of Daewoo International; and Nur Alam, managing director of Ashuganj Power Station Company signed the deal on behalf of their organisation.
The South Korean companies will have to implement the natural gas-run combined cycle power plant in the next two years.
Ashuganj Power Station, an enterprise of Bangladesh Power Development Board, is the country’s second largest power station that currently supplies up to 13 percent of the total power requirement in the country. It now produces 674MW of electricity daily.
The new plant in Ashuganj, 90km northeast of the capital, is to supply power to the national grid.
Energy Adviser Tawfiq-e-Elahi Chowdhury urged the contractors to implement the project as early as possible.
State Minister for Liberation War Affairs Tajul Islam, Power Secretary Abul Kalam Azad, Daewoo International Vice Chairman and CEO Lee, Dong Hee, South Korean Ambassador to Bangladesh Cho, Tae Young and PDB Chairman ASM Alamgir Kabir were present on the occasion.