DHAKA: Saudi Arabia will provide Bangladesh a loan of Tk 437.30 crore for setting up a duel-fuel power plant with a view to producing some 225-megawatt electricity.
In this regard, an agreement was signed between the two countries at Economic Relations Department (ERD) on Thursday evening.
ERD Joint Secretary Nurjahan Begum and Director General of Saudi Export Project Ahmed M Ganam signed the deal on behalf their respective sides.
The loan would be provided under Saudi Fund for Development (SFD) project, sources said.
Saudi Embassy charge d`affairs Jadi Naeef Al Rakkas, among others, were present in the deal signing programme.
Project Director Sirajul Islam Chowdhry said Power Development Board (PDB) would take initiatives to implement the project within a year.
He said, “The power plant, which will be set up at Shikolbaha Union under Patiya upazila in Chittagong, will come into production in 2016.”
BDST: 2014 HRS, NOV 22, 2012
Edited by: Palash Rahman, Newsroom Editor/ M. Mahbub Alam, Asst Output Editor
All rights reserved. Sale, redistribution or reproduction of information/photos/illustrations/video/audio contents on this website in any form without prior permission from banglanews24.com are strictly prohibited and liable to legal action.