Supplement, Oil & Energy

Hyundai Group keen to invest in power and energy sector

Published : 01 Jun 2019 05:02 PM | Updated : 07 Sep 2020 10:31 AM

South Korea based Hyundai Group has expressed interest to invest in the power and energy sector of Bangladesh.

During a visit to Bangladesh Economic Zones Authority (BEZA) headquarters in the capital recently, a high-level delegation of Hyundai led by its deputy general manager Chang Jin La, told Bangladeshi officials that they are eager to invest in the country, said a press release.

Expressing satisfaction over the investment climate in Bangladesh at a meeting with BEZA officials, Chang Jin La said they felt encouraged to invest in Bangladesh after learning about the Japanese investments in various projects in the country.

Besides, big investments made by various multinational companies in the Bangabandhu Sheikh Mujib Industrial City have also inspired them to explore major investment opportunities here.

Jin La said they are willing to support Bangladesh's efforts to achieve rapid industrialisation.

Hyundai Group has already started conducting a feasibility study in some parts of Bangladesh before making investment, Jin La said, adding that a higher-level delegation will visit the country soon.

He also sought BEZA's support in this regard.

During the visit, the delegation discussed with BEZA Executive Chairman Paban Chowdhury regarding the investment environment in the country.

Paban Chowdhury said BEZA is providing all sorts of support to the investors in the country for making their investment successful. “BEZA is providing the highest priority to investment and it will continue it in future,” he added.

Meanwhile, another delegation from China, in a view exchange meeting with the BEZA officials, expressed their interest to start installing a solar power plant soon in Sonagazi, Feni, which is a part of Bangabandhu Sheikh Mujib Industrial City.

The Chinese delegation comprised representatives of Beijing Zhenyuan Henghui Engineering Consulting Co. Ltd., Beijing Energy holding Co. Ltd., and the Power China Hydropower Engineering Bureau Co. Ltd. They will set up a 200-megawatt solar power plant.

Chairman of Beijing Zhenyuan Henghui Engineering Yang Xianjun said they are eager to invest in various segments of renewable energy in Bangladesh.

Earlier, the Chinese delegation sent a proposal for the installation of the solar power plant.

Read Bangladesh Post National categorie news.