Investment News

UK companies propose project integrating power & railway

Nov 28, 2019

UK-based companies of IM Power Plc and TenBroeke Ltd have proposed an integrated initiative involving the development of Bangladesh’s power and railway sectors during a meeting with BIDA chief Md. Sirazul Islam on Nov 28. The two businesses proposed to form a joint venture to set up a 2 x 500MW plant at Payra port using imported LNG and to set up a transmission line between Payra, Dhaka, Chattogram and Cox’s Bazar.  A portion of the power produced will be used to electrify a railway track between Payra and Dhaka, besides being fed to the national grid. “Bangladesh has reached sufficiency in power generation, but its integration with transmission and transport infrastructure has the potential to transform the south-west region,” said the BIDA chief. An independent power producer can do more than just provide power by making sure that markets can use power, said IM Power Chairman Gordon J. Dickie. “In other countries, we have put in desalination plants for fresh water and established extensive transmission lines to make sure that the power can go to where it is needed. IM Power Plc and TenBroeke Ltd will submit a complete proposal at the beginning of 2020.