Saudi Arabia based company, ACWA Power has signed a $2.5 billion deal to build 3,600MW gas based power plant in Bangladesh. The deal between Bangladesh Power Development Board (BPDB) and ACWA Power is the first ever deal signed in the power sector between Bangladesh and Saudi Arabia regarding investment.
The deal also includes setting up a 2 MW solar power plant at a cost of $0.5 billion. It is part of the government’s pledge to place special emphasis on the power sector in order to achieve the goals of Vision-2021 and Vision-2041.
The plant will be completed in the next 5 years and will be a huge asset to the power sector of the country. we welcome this project as it will undoubtedly boost the power sector, which is the main driving of the economy.
The power plant deal is a timely addition to
Bangladesh’s growing list of mega projects which
will ensure development and improve infrastructure
Under the current government’s leadership, Bangladesh has achieved remarkable success in power generation and many internationally renowned companies have already invested in the country’s power and energy sector.
The power plant will further increase Bangladesh’s electricity output which will help close the gap between supply and demand. Currently, the demand for electricity is on the rise, with increasing population as well as fast economic growth.
More and more regions which were previously isolated have been connected to the electricity grid. Many rural areas and small towns now have access to electricity. Moreover, thanks to improved communication, these areas have quickly developed and therefore the demand for electricity is much higher than it was in the past.
The power plant deal is a timely addition to Bangladesh’s growing list of mega projects which will ensure development and improve infrastructure. The government must help the investors choose the most suitable location for the plant. Distribution of the funds must be strictly supervised. The government must ensure smooth running of the construction project as well in order to encourage future investments.
