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Monday, February 6, 2012

TNB keen to develop coal based power plant in Bangladesh

Monday, 06 Feb 2012

Tenaga Nasional Bhd is keen to develop a 1,400 MW coal based power plant in Cox's Bazar, Bangladesh worth USD 2.5 billion (MYR 7.525 billion) on a joint-venture basis, to meet the demand for power in the country.

Special Envoy (Infrastructure) to India and South Asia, Datuk Seri Samy Vellu revealed that the national utility giant and the Bangladesh Power Development Board had declared interest to jointly develop the project and a decision on the matter was imminent.

"There will be investments from both sides."

Indeed, according to a source close to the deal, the Bangladeshi government has already engaged TNB and had proceeded with a letter of intent indicating its interest to establish a joint venture for the purpose.

Sources said that "Currently both sides are deliberating to reach an understanding on the equity sharing and electricity production cost for the import based coal fired mega power plant.”

Ms Samy said that "TNB is a company which possesses years of experience in power generation and Bangladesh needs a lot of power. This is why the (Bangladeshi government) wants to work together with us.”

He told that "TNB had gone and seen the place and now they are in the midst of performing their own due diligence.”

If the deal goes through, the joint venture will mark TNB's foray Bangladesh's power sector.

(Sourced from BERNAMA)

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