Cabinet body approves two Chinese funded power projects

Cabinet Committee on Economic Affairs (CCEA) yesterday approved two Chinese funded projects involving $ 2.79 billion for expansion and strengthening of power system network.

The projects are “Expansion and strengthening of power system network under Dhaka Power Distribution Company (DPDC) area project” involving $1.65 billion, and ‘Power grid network strengthening project under Power Grid Company of Bangladesh Ltd. (PGCB)” involving $1.14 billion.
China will finance both projects and memorandum of understanding (MoU) will be signed during the visit of Chinese President Xi Jinping in Dhaka on October 14. 
The main objective of expansion and strengthening of power system network under DPDC area project’ is to build up necessary infrastructures for reliable transmission of power.
Exim bank of China will finance the project at 2 per cent interest rate. The government has set a goal to generate, transmit and distribute additional 20,000 MW of power by 2021, and to do that it will require US$ 30 billion to $40 billion. 

Cabinet body approves two Chinese funded power projects

Cabinet Committee on Economic Affairs (CCEA) yesterday approved two Chinese funded projects involving $ 2.79 billion for expansion and strengthening of power system network. The projects are Expansion and strengthening of power system network under Dhaka Power Distribution Company (DPDC) area project involving $1.65 billion, and Power grid network strengthening project under Power Grid Company of BangladeshLtd. (PGCB) involving$1.14 billion. China will finance both projects and memorandum of understanding (MoU) will be signed during the visit of Chinese President Xi Jinping in Dhaka on October 14. The main objective of expansion and strengthening of power system network under DPDC area project is to build up necessary infrastructures for reliable transmission of power. Exim bank of China will finance the project at 2 per cent interest rate. The government has set a goal to generate, transmit and distribute additional 20,000 MW of power by 2021, and to do that it will require US$ 30 billion to $40 billion.