GE, partners sign 7.4 bln USD of power, energy deals with Bangladesh

DHAKA, July 12 (Xinhua) — U.S. multinational conglomerate General Electric (GE) and its local and foreign partners have signed two separate deals for several power and energy projects in Bangladesh worth 7.4 billion U.S. dollars.
On Wednesday, GE inked one Memorandum of Understanding (MoU) with the state-run Bangladesh Power Development Board (BPDB) for implementing projects worth 4.4 billion U.S. dollars, including a 3,600-MW LNG-based power plant, an associated LNG import terminal, and necessary infrastructure under a joint venture (JV).
GE’s Switzerland unit will reportedly own 30 percent of the joint venture (JV) while BPDB will hold 51 percent with the remaining 19 percent left for a future strategic investor.
In a separate deal, it has also inked a MoU with leading local Summit Group and Japanese Mitsubishi Corporation for implementing projects worth 3 billion U.S. dollars.Projects under the deal included a 2,400-MW combined cycle power plant, two units of on-shore LNG terminal having a total capacity of 380,000 cubic meters, oil terminals having 100,000 tonne capacity, and another 300-MW furnace-oil based power plant under a JV.  Enditem