Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi loan to help Dhaka overcome electricity crisis  Join our daily free Newsletter

MENAFN - Arab News - 27/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) For the construction of a 225-megawatt power plant at Shikalbaha, near Chittagong, in Bangladesh, Saudi Arabia will provide SR 199,740,000 (53.33 million).

Bangladeshi expatriates in Saudi Arabia hailed the Kingdom's gesture to help their country end severe electricity ordeals.

Without Saudi's support it wouldn't be possible in the near future to execute such a power project, said Muzamil Fakir, an administrative assistant.
When leading regional and global financial players such as the World Bank and Asian Development Bank were reluctant to finance the project, Saudi Arabia stepped up to assist with soft loans, said architect Alam Sarder.
Bangladesh planned to build the power plant more than four years ago. The absence of funding delayed its implementation.

Apart from government-to-government level, Bangladesh also woos Saudi business organizations into its power sector. A leading Saudi energy company is in the process to build its own electricity plant with capacity of 225 megawatt (MW) in Bibiyana.

Jeddah-based Islamic Development Bank also provided a loan of 380 million (SR 1.425 million) to Bangladesh for the construction of two power projects. IDB will lend 200 million (SR 750 million) for the Ashuganj Power Station Efficiency Improvement Project and 180 million (SR 675 million) for the construction of Bhola 225MW Combined Cycle Power Plant Project.

Only 47% of the total population of Bangladesh is enjoying the electric facilities. At present, the average production is only 4,000MW against a demand of about 5,500MW. Bangladesh has initiated a Power and Energy Sector Development Roadmap (2010-2021), which is targeted to produce 8,500MW by 2013.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help