A local private company signed a deal with Chinese-Bangladeshi consortium for construction of a furnace oil-based power plant.
The consortium of CRRC Siynang Co,. Ltd of China and local Green Power Ltd undertook the job to build a 150 MW power plant for a leading local private firm in Ashuganj.
Midland East Power Ltd, the leading local firm, signed an EPC (engineering, procurement and construction) contact with the consortium.
Midland is the owner and developer of the power plant which is to be constructed on nine acres of land, according to a report by Xinhua .
The Midland said in a handout that after discussions with four international companies, it decided to strike the deal with the consortium as it offered the most competitive proposal.
Under the agreement, the consortium will do engineering, construct the plant, procure the machinery and necessary performance testing to put the power plant into commercial operation, it said.
According to the firm, the project is adopting stringent environment norms with highly efficient machinery and state of art technologies has been selected for this project to make it an environment friendly and highly efficient power plant.
The project will be fully completed in nine months, and go into commercial operation and be connected to the national grid by May next year, it said.
Midland said it had earlier signed an agreement with the Britain-based Rolls Royce for supplying main engines for the plant.
Bangladeshi leading local Eastern Bank Ltd is the financial partner of Midland for the plant. Midland has already signed a 15-year agreement with the Bangladeshi government to supply the power produced at the plant to the national grid.
