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Bangladesh to build 3600 MW LNG-based power plant
- 7 years ago (2017-11-06)
- David Flin
A 3600 MW LNG-based power plant is to be built at Payra in Bangladesh. North-West Power Generation Co., an enterprise of the Bangladesh Power Development Board, and Siemens have signed an agreement for setting up the plant. The agreement gives the estimated cost of the plant as $2.8 billion, of which $2.4 billion will come as a loan, and $400 million as equity. North-West and Siemens will carry equal shares of equity.
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This will be the largest European investment into Bangladesh to date. Three units will be constructed at the site, with the first two scheduled to start operations in 2020, and the third in 2021.
The plant will operate on imported gas, and both land-based and floating LNG terminals will be constructed at the site. The Japanese fir Tokyo Gas Engineering Solutions Corporation has been appointed as a consultant to carry out the feasibility study for setting up the land-based terminals.