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Bangladesh signs deal with General Electric, Mitsubishi to invest $3 bln in energy

Reuters  |  DHAKA 

DHAKA (Reuters) - General Electric and Mitsubishi Corporation are forming a joint venture with a Bangladesh private power firm to set up a 2,400 megawatt (MW) thermal power plant and related oil and LNG terminals in an investment of $3 billion, the companies said on Wednesday.The local firm, Summit, will hold 55 percent equity while Mitsubishi will take 25 percent and GE 20 percent.The project involves four thermal units of 600 MW each, a 380,000 metre cubic capacity liquefied natural gas (LNG) terminal and oil terminals with 100,000 metric tons capacity. The three firms signed a memorandum ...

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First Published: Wed, July 11 2018. 18:31 IST