Saudi firms Aramco, Acwa Power keen to invest in Bangladesh

Two state-owned firms of Saudi Arabia are keen to invest in power and energy sectors in Bangladesh.

Bangladesh Investment Development Authority (BIDA) said, “State-owned oil, gas and petroleum companies Saudi Aramco and Acwa Power are keen to invest in power and energy sectors in Bangladesh.”

The observation came when a delegation of the two firms met executive chairman of BIDA Kazi Md Aminul Islam at latter’s office in the capital yesterday. They talked on various issues concerning future investment in various sectors in Bangladesh.

Business development manager of Amarco Julio C Hasselmeyer Moses and business power director of Acwa Power Ayad Al-Amri said they are jointly interested to invest in the generation and supply of 500MW renewable solar power plant and Liquefied Natural Gas (LNG).

The delegation of the two firms came to Bangladesh following the recent visit of the commerce and investment minister Majed Bin Abdullah Al Kassabi and economy and planning minister Mohammed Bin Mayzad Al-Twaijri in the beginning of March and expressed their optimism for investment.   

Julio C Hasselmeyer said, “A convenient environment for investment is prevailing currently in Bangladesh because of the rapid development in various sectors including communication and transport, electricity, energy and information and communication technology within the last few years.”

“We are interested to invest in Bangladesh because of such environment for investment,” he added.

Aminul Islam said, “Bangladesh government is investment- friendly. The workers here are available and economy is stable. The number of capable youths would increase in the 25-30 years because of demographic dividend. So the labour market in Bangladesh will remain available.”

He welcomed the two Saudi firms for the interest to invest in Bangladesh.

Earlier in July Summit Group, Japanese Mitsubishi Corporation and US-based General Electric Company inked an initial agreement worth of US $3 billion – around Tk 24,000 crore in the country’s power and energy sectors. The investment in private sector power generation has amounted to Tk 75,000 crore till December 2, 2018.

 

Saudi firms Aramco, Acwa Power keen to invest in Bangladesh

Two state-owned firms of Saudi Arabia are keen to invest in power and energy sectors in Bangladesh. Bangladesh Investment Development Authority (BIDA) said, State-owned oil, gas and petroleum companies Saudi Aramco and Acwa Power are keen to invest in power and energy sectors in Bangladesh. The observation came when a delegation of the two firms met executive chairman of BIDA Kazi Md Aminul Islam at latters office in the capital yesterday. They talked on various issues concerning future investment in various sectors in Bangladesh. Business development manager of Amarco Julio C Hasselmeyer Moses and business power director of Acwa Power Ayad Al-Amri said they are jointly interested to invest in the generation and supply of 500MW renewable solar power plant and Liquefied Natural Gas (LNG). The delegation of the two firms came to Bangladesh following the recent visit of the commerce and investment minister Majed Bin Abdullah Al Kassabi and economy and planning minister Mohammed Bin Mayzad Al-Twaijri in the beginning of March and expressed their optimism for investment. Julio C Hasselmeyer said, A convenient environment for investment is prevailing currently in Bangladesh because of the rapid development in various sectors including communication and transport, electricity, energy and information and communication technology within the last few years. We are interested to invest in Bangladesh because of such environment for investment, he added. Aminul Islam said, Bangladesh government is investment- friendly. The workers here are available and economy is stable. The number of capable youths would increase in the 25-30 years because of demographic dividend. So the labour market in Bangladesh will remain available. He welcomed the two Saudi firms for the interest to invest in Bangladesh. Earlier in July Summit Group, Japanese Mitsubishi Corporation and US-based General Electric Company inked an initial agreement worth of US $3 billion around Tk 24,000 crore in the countrys power and energy sectors. The investment in private sector power generation has amounted to Tk 75,000 crore till December 2, 2018.