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China's energy giant inks deal with UK firm for Bangladesh power plant
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IANS | 19 Jan, 2019
China's energy giant PowerChina has signed an agreement and a contract
with GCM Resources, a leading British resource exploration company, for
development of a coal-fired power plant in Bangladesh.
Both the
Joint Venture (JV) deal and the engineering, procurement and
construction (EPC) contract were signed at a ceremony in Dhaka on
Thursday. The plant would be developed in Bangladesh's Dinajpur
district, some 338 km northwest of the capital, Xinhua news agency
reported.
The proposed project is part of a broader strategy by
GCM to generate 6,000 MW of low cost electricity for the Bangladesh
market utilizing domestic coal, the report said.
The power plant,
with two units of a capacity of 1,000 MW each, will be built with ultra
supercritical technology, which provides lower levels of emissions and
delivers the lowest cost of power.
The project would deliver a
sustainable power solution for the development and progress of
Bangladesh and would have a substantial multiplier effect on the
country's economic and social advancement, according to a statement by
the companies.
Ding Zhengguo, Chairman of PowerChina
International, said they were delighted to be a partner with GCM to
deliver an integrated mine and power plant for the people of Bangladesh.
"Completing
the JV agreement and EPC contract are very important steps in
progressing the combined project. As the power plant contractor, we are
committed to a positive relationship with the community and to
constructing an environmentally friendly power plant for the benefit of
the local people," he said.
Michael Tang PJN, Executive Chairman
of GCM, said: "The JV agreement and EPC contract are key milestones for
the development of the 2nd proposed 2,000 MW power plant project at the
mine site and aligns with GCM's strategy to present a holistic power
solution to the government of Bangladesh which can generate 6,000 MW at
the lowest cost for the country." "The Phulbari Coal and Power Project will deliver a significant multiplier effect on the nation's advancement," he added.
PowerChina
is an investor and contractor for three large projects in Bangladesh --
two coal-fired power plants with a combined capacity of 1,670 MW and a
JV for the Dhaka Elevated Expressway.
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