UK and Thai energy giants keen to invest in Bangladesh

The United Kingdom (UK)-based IM Power and Ten Broeke Company Limited on Saturday expressed their keenness to invest in the country’s power and railway sectors. Besides Thailand-based energy giants have shown their interest to invest in BD.

However, several countries including Russia, United States, Germany and Japan are interested to invest in the country’s power and energy sector for being secure and investor-friendly, an official said.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid had recently said, ‘Bangladesh is an investor-friendly country whose power and energy sector is expanding day by day. Our target is to generate 60,000 MW of electricity by 2041. So there is a huge opportunity for investment in the sector. Many countries regularly want to invest here.’ 

A five-member delegation, led by IM Power Chairman Gordon J Dickie and CEO Elena Baranova and Managing Director of the Ten Broeke Company Paul E Tweedale, expressed their keenness while meeting with Bangladesh Investment Development Authority (BIDA) Executive Chairman Md Sirazul Islam at his office in the city.

During the meeting, the delegation lauded Bangladesh for its’ continues development and expressed their keenness to invest in the power transmission to railway connectivity and LNG sectors.

Sirazul Islam said Bangladesh’s economy is moving forward under the prudent policy and dynamic leadership of Prime Minister Sheikh Hasina.

“For development, demand of environment-friendly power will be created more in future. After inauguration of Padma Bridge, communication system will be changed radically through establishing railway connectivity from Payra Port to Cox’s Bazar via Dhaka,” he added.

On the other hand during a courtesy call with the State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Wednesday at Bangladesh Secretariat, the newly-appointed Thai Ambassador in Dhaka Arunrung Phothong Humphreys showed his interest to investment in this sector.

The Thai ambassador has proposed to sign a Memorandum of Understanding (MoU) on power and energy sector cooperation between the two countries.

Bangladesh and Thailand can reap benefit in industrial, economical and social development through signing the MoU, he said.

Thailand-based SIAM Gas, PTT, SIO Triple A Group have shown their interest to invest in Bangladesh, the ambassador informed.

Responded to the ambassador, state minister for power and energy Nasrul Hamid said Bangladesh welcomes any type of foreign direct investment. There have huge opportunities in renewable energy, waste to energy, LPG and others sector in Bangladesh. 

He opined Bangladesh and Thailand can be benefited through framework agreement.