Isolux Corsán awarded second major contract for electricity generation in Bangladesh
October 21, 2011
The company will build a 340 MW combined-cycle power plant in Siddhirganj, one of the main industrial centers in the country.
The project budget, $335 million, is three times the previous.
The Group has wide experience in power generation projects with more than 3,000 MW built in different parts of the world.
Isolux Corsán reinforced its presence in Asia with the award of its second large energy contract in Bangladesh. The contract is for the construction of a 340 MW combined-cycle power station in Siddhirganj, one of the most important industrial centers of Bangladesh and only 20 km from the capital, Dhaka. The project, awarded by the public power company of Bangladesh, Electricity Generation Company of Bangladesh Ltd, will be implemented over a period of 30 months and carries a price tag of €244.58 million (US$335 Mn).
The contract is part of the Bangladesh Energy Development Plan launched by the government of P.M. Sheikh Hasina Wajed to achieve the electrification of the entire country in 2020. Bangladesh is the seventh most populous nation in the world with 168 million inhabitants and also has one of the greatest population densities and large energy needs.
The new power station that Isolux Corsán will build in Siddhirganj will transmit the energy produced through a 230 kV line, reinforcing the national grid and ensuring greater network reliability. The facility will be built with the latest technology. The Group will also execute the connection of the plant with the existing gas network in the area.
Barely four months ago, the Bangladesh public electricity company awarded the Group the construction of another power plant, but this time an open cycle 180 MW power station in Khulna, the third industrial city in Bangladesh. The price tag on that project was €110.3 million (US$160 Mn).
With this new award Isolux Corsán increases its presence in the Asian continent, where the Group already has stable activities in such countries as Saudi Arabia, Jordan, Kuwait, Oman, Qatar, Syria and India, and reinforces the Group’s energy generation business line, which to date has executed projects for a total of more than 3,000 MW in different countries of the world.