Bangladesh gets Saudi funding for dual-fuel power plant

Absence of funding hindered its implementation.

But now another round of loan has been procured by Bangladesh its proposed Shikalbaha 225-megawatt power plant in Chittagong.

The Saudi government will lend US$ 53.33 million to the Bangladeshi government through the Saudi Fund for Development.

Other financers of the $270.75 million Shikalbaha power plant are Kuwait, UAE and the OPEC fund, which will provide $114.40 million worth of credit for the power station.

Kuwait has already confirmed US$ 53 million loan for the power station. The UAE’s Abu Dhabi Fund for Development will provide $31.4 million while the OPEC Fund for Development $30 million for the plant.

The government of Bangladesh will provide $71.40 million and the rest $31.62 million will come from the state-owned Bangladesh Power Development Board.

The 225 MW dual-fuel power plant will be built at Shikalbaha in Chittagong. It will first run on oil, and then on LNG (liquefied natural gas), based on its availability.

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