Bangladesh independent power producer Summit Power Ltd signed deals with General Electric and China National Electric Engineering Co to build a 335-megawatt (MW) dual-fuel power plant, the company's chairman said on Thursday.
"We will be able to produce electricity by the end of July of 2013 with an investment of $275 million," said Summit Chairman Muhammed Aziz Khan. The plant to be built near the capital Dhaka is part of an aim by Bangladesh to cover chronic power shortages of around 1,500 MW daily that crimp industrial output.
But the policy is in some disarray as the country earlier this month banned the import of new oil-fired turn-key electricity generators. The new plant will also be able to run on natural gas, which Bangladesh has ample sources of for now, though the government is worried about depleting supplies.
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