Saudi Arabia has signed an MOU with the Bangladesh Power Development Board (BPDB) to set up a 3600MW LNG-based power plant. According to the terms of the deal, ACWA Power will set up both the plant and an LNG terminal to facilitate fuel supply to the plant. The deal is valued at $3 billion. Of this, $2.5 billion will be invested into the power plant, and $500 million on setting up the LNG terminal.
Officials said that ACWA will conduct a feasibility study within the next six months, and then it would decide on the location of the power plant. Locations under consideration include Mongla and Chittagong.