The Summit-GE consortium inked on Thursday final deals with government entities to build a 583-megawatt dual-fuel combined cycle power plant at Meghnaghat.
The consortium styled 'Summit Meghnaghat II Power Company Ltd (SMIIPCL)' would be operational either by regasified LNG (RLNG) or diesel.
The SMIIPCL struck the deals at a function at Bidyut Bhaban here.
PM's energy affairs adviser Dr Towfiq-e-Elahi Chowdhury witnessed the signing of the contracts at a ceremony as the chief guest.
Summit Group chairman Muhammad Aziz Khan, US ambassador Earl R Miller, power secretary Dr Ahmad Kaikaus and energy secretary Abu Hena Md Rahmatul Muneem were present.
The state-run Titas Gas Transmission and Distribution Company Ltd (TGTDCL) would provide regasified LNG (liquefied natural gas) and Bangladesh Petroleum Corporation (BPC) diesel to run the plant.
Summit Corporation Ltd (SCL) has an 80 per cent stake in the project and the US-based GE a 20 per cent share.
The plant in Narayanganj, some 20 kilometres off the capital, is expected to be operational by March 2022.
The state-run BPDB would purchase electricity from the facility for 22 years.
The GE would also be the engineering, procurement and construction contractor (EPC) of the project and build it on a turnkey basis at a cost of $390 million.
It inked the EPC contract with the project company.
The SMIIPCL, a subsidiary of Summit Group, signed power-purchase agreement with the BPDB for 22 years, land lease agreement with the BPDB and gas supply agreement with the TGTDCL.
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