A credit deal of $1.9 billion is signed on 14 October to build the 1,320MW coal-fired power plant of Pyra.
China’s Exim Bank is giving this credit at an interest rate of just
above 2 percent, claimed the sources.
Bangladesh-China Power Company Ltd (BCPCL), which is a joint-venture
between the state-run North-West Power Generation Company of
Bangladesh and Chinese Power Company is going to implement this power
plant in Pyra, Patuakhali. To build this power plant, 30 percent of
the funding will come from the BCPCL, with equal contribution from
both of the country and 70 percent is about to be managed by the bank
loan.
BCPCL, on last March, signed an Engineering, Procurement and
Construction (EPC) contract with a Chinese consortium named Northeast
No 1 Electric Power Construction Co Ltd (NEPC) and China National
Energy Engineering and Construction Co Ltd, China (CECC).
BCPCL has already started the construction of the power plant as the
company is allowed to spend up to 15 percent of the credit amount
before the deal is signed. The company has the plan to complete 25
percent of the construction before the deal is signed.
The MD of BCPCL has informed that, almost 1,000 acres of land is
already acquired and the piling will start form the month of November.
The coal-fired plant will be fueled by imported coal. To import coal
from Indonesia, the authority signed a MoU and some other is already
in progress with Australia and China.