As a leader in power supply, related infrastructure development and technology transfer in Bangladesh, we intend to not only expand domestically but replicate our business’s success in powering Bangladesh through overseas expansion plans in emerging markets across southeast Asia.
The company has recently completed two flagship projects – Meghnaghat and Bibiyana II, among the largest power plants in the country and using the latest technology. With combined gross capacity of over 650MW and costing over US$600m, the projects were funded by multiple parties including international financing organizations.
We expect to double our generating capacity in the next 5 years, and currently have two projects totalling approximately 750MW under development. Kodda HFO is a US$110m heavy fuel reciprocating project with gross capacity of 158MW. We anticipate commencement of production in H1 2018. Our second project currently under construction in Bangladesh is the Meghnaghat LNG (1), a LNG dual-fuel CCGT GE H Class plant with gross capacity of 590MW. The expected cost of the project is estimated at US$475m and anticipated commencement of production in early 2020.
In addition, we maintain a further strong and visible pipeline of opportunities totalling over 4GW with expected commencement dates over the next 10 years.