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PM seeks more Japanese investment

Published : 24 Feb 2020 09:47 PM | Updated : 05 Sep 2020 02:43 AM

Prime Minister Sheikh Hasina on Monday sought more Japanese investment in Bangladesh’s power and energy sector to meet the growing demand of electricity, reports BSS.
“The demand of electricity is rising fast with the increasing of population and development works in the country. So we need more investment in the sector for fulfilling the demand,” she said.

The premier made the remarks when Satoshi Onoda, the president of JERA Co. Inc, the largest electricity producing firm in Japan, paid a courtesy call on her at her office in the capital yesterday afternoon.

After the meeting, PM’s Press Secretary Ihsanul Karim briefed reporters. The premier appreciated the Japanese companies including JERA for making investment in Bangladesh’s power sector.

Sheikh Hasina also highlighted her government’s strides for boosting power generation in the country. The JERA president apprised the prime minister that their company is now generating 60,000 MW of electricity in Japan which is 50 percent of the country’s total demand.

“We’re making huge contributions to our economic development by producing this electricity,” he said.
Satoshi Onoda informed the prime minister that with the joint venture of Reliance Bangladesh Power and LNG Company, they are setting up a 718-MW power plant in Meghnaghat.

“The power plant will go into operation by 2022,” he said. The JERA president said they have already set up 335-MW power plant with joint venture of Summit Power Ltd of Bangladesh. “We want to establish some more power plants in joint venture with Summit,” he said.

Satoshi Onoda also said the Summit-JERA-Mitsubishi Consortium has already submitted an expression of interest (EOI) to the government for setting up an LNG terminal in Matarbari, Cox’s Bazar.

PM’s Energy Adviser Dr Tawfiq-e-Elahi Chowdhury, State Minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid Bipu, Prime Minister’s Office (PMO) Secretary Tofazzel Hossain Mian, the Japanese ambassador to Bangladesh ITO Naoki and Summit Power Chairman Muhammed Aziz Khan were present on the occasion.

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