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Hyundai, Daewoo to Build $180 Million Power Plant in Bangladesh

Bombay Dude

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Sep 11, 2011
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Oct. 5 (Bloomberg) -- South Korea’s Hyundai Engineering Co. and Daewoo International Corp. will sign an accord today with Bangladesh’s Ashuganj Power Station Co. to build a 225-megawatt power plant in the South Asian country.

The project will cost 13.61 billion taka ($180 million), Mizanur Rahman, company secretary at Ashuganj Power, said in a phone interview. Standard Chartered Plc will finance 80 percent of the cost, he said.

Bangladesh, where more than half of the 156 million people don’t have access to electricity, plans to spend $10 billion, or 11 percent of its gross domestic product, in a decade to increase generation capacity and attract overseas investment.

The plant is being built in Ashuganj, 90 kilometers (56 miles) north-east of the capital Dhaka, to supply power to the national grid.

Hyundai, Daewoo to Build $180 Million Power Plant in Bangladesh - Businessweek
 
Oct. 5 (Bloomberg) -- South Korea’s Hyundai Engineering Co. and Daewoo International Corp. will sign an accord today with Bangladesh’s Ashuganj Power Station Co. to build a 225-megawatt power plant in the South Asian country.

The project will cost 13.61 billion taka ($180 million), Mizanur Rahman, company secretary at Ashuganj Power, said in a phone interview. Standard Chartered Plc will finance 80 percent of the cost, he said.

Bangladesh, where more than half of the 156 million people don’t have access to electricity, plans to spend $10 billion, or 11 percent of its gross domestic product, in a decade to increase generation capacity and attract overseas investment.

The plant is being built in Ashuganj, 90 kilometers (56 miles) north-east of the capital Dhaka, to supply power to the national grid.

Hyundai, Daewoo to Build $180 Million Power Plant in Bangladesh - Businessweek

Bangladesh needs more power plant projects that will boost industry set ups and industrial output. The new plant will also use natural gas which is in short supply at present. Basically, I am of the opinion that coal be used instead of gas. But, recently I am also thinking that more of gas-fired power plants will work as a catalyst to invest more to find out more gas fields.

If the govt stops using gas, the incentive to discover more gas fields will be lost. Public opinion is against the export of gas. So, the new power plants should be gas based. Only this may encourage to find out more gas fields. Note that by some estimates our part of BoB contains more than a 100 trillion cft of gas.
 

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