Bangladesh's Midland to get $21M loan for 51MW gas-fired project

Midland Power Company Ltd will recwive a $21 million loan for its 51-megawatt gas-fired power plant at Ashuganj of Narayanganj.

An agreement was signed between the two sides recently to facilitate the implementation of the independent power plant at a total cost of $32 million.

The British bank is the sole arranger and lender of the financing facility.

Midland Power is a joint venture between Viyellatex Group and Youth Group, two leading garment exporters. The plant plans to supply electricity to the national grid by the yearend.

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