EGCB signs deal with Isolux-Samsung consortium to install Siddhirganj CC power plant; Rental power plants’ share in power production to be reduced: Finance Minister
Dhaka, May 28 (UNB) – The state-owned Electricity Generation Company of Bangladesh (EGCB) on Monday signed a contract will Spanish-Korean consortium Isolux Ingenieria and Samsung CNT to set up 335 MW Siddhirganj combined cycle power plant.
As per the contract, the Isolux-Samsung consortium will supply and install the power plant at a contract value of US$ 339.18 million on turnkey basis.
The EGCB earlier moved to implement the project with the World Bank funding. “But so far the donor agency made a commitment of providing $200 million”, said an EGCB official.
Speaking as chief guest at the contract signing function at Bidyut Bhaban in the city, Finance Minister AMA Muhith said that the government will reduce the costly rental power plants’ share in power production to 7 percent by 2016 from the existing 31 percent.
He said: “The government has been successful in keeping two of its promises -- keeping prices of commodities stable and resolving power crisis. The government had set the two targets as part of its election agenda and it became successful to achieve the targets.”
Muhith said the government is now giving more concentration on implementing larger scale power plants though the process of their implementation is lengthy.
The demand of electricity is increasing with increase in the people’s purchasing capacity, he said.
The function was also addressed by Prime Minister’s Advisor Dr. Tawfiq-e-Elahi Chowdhury, State Minister for Power and Energy Mohammad Enamul Haque, Spanish Ambassador to Bangladesh Luis Tjeda Chacon, World Bank Country Director Ellen Goldstein, Power Secretary Abul Kalam Azad and EGCB Managing Director Mostafa Kamal.
EGCB Secretary Kazi Nazrul Islam, Isolux’s Managing Director Jose Garrido and Samsung’s General Manager Sungki Na signed the agreement on behalf of their respective sides.
World Bank country director Ellen Goldstein said her organisation will continue its support for the power sector in Bangladesh.
She the World Bank earlier extended its financial support to implement various power plant projects in Bangladesh.
As per the contract, the Isolux-Samsung consortium will supply and install the power plant at a contract value of US$ 339.18 million on turnkey basis.
The EGCB earlier moved to implement the project with the World Bank funding. “But so far the donor agency made a commitment of providing $200 million”, said an EGCB official.
Speaking as chief guest at the contract signing function at Bidyut Bhaban in the city, Finance Minister AMA Muhith said that the government will reduce the costly rental power plants’ share in power production to 7 percent by 2016 from the existing 31 percent.
He said: “The government has been successful in keeping two of its promises -- keeping prices of commodities stable and resolving power crisis. The government had set the two targets as part of its election agenda and it became successful to achieve the targets.”
Muhith said the government is now giving more concentration on implementing larger scale power plants though the process of their implementation is lengthy.
The demand of electricity is increasing with increase in the people’s purchasing capacity, he said.
The function was also addressed by Prime Minister’s Advisor Dr. Tawfiq-e-Elahi Chowdhury, State Minister for Power and Energy Mohammad Enamul Haque, Spanish Ambassador to Bangladesh Luis Tjeda Chacon, World Bank Country Director Ellen Goldstein, Power Secretary Abul Kalam Azad and EGCB Managing Director Mostafa Kamal.
EGCB Secretary Kazi Nazrul Islam, Isolux’s Managing Director Jose Garrido and Samsung’s General Manager Sungki Na signed the agreement on behalf of their respective sides.
World Bank country director Ellen Goldstein said her organisation will continue its support for the power sector in Bangladesh.
She the World Bank earlier extended its financial support to implement various power plant projects in Bangladesh.
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