Australia, Bangladesh jointly to set up 50 mw power plant in Ishwardi EPZ
Tuesday, 23 October 2007
M/s Monticore Technology Ltd, will set up a 50 mw Power Generation Plant in Ishwardi Export Processing Zone (EPZ) with a view to solving the power crisis of the Ishwardi EPZ and its surrounding area involving US$45 million, reports UNB.
The Australia-Bangladesh jointly owned company will install this 50 mw power plant on 3,752.32 square metres area within the zone. The plant will go into service within 15 months.
The power plant will provide uninterrupted power supply to the operating enterprises of Ishwardi EPZ including adjacent area during peak and off peak hours.
Out of the developed 166 industrial plots in 28 sanctioned industrial units of the EPZ, three units are in operation at present and the rest are at various stages of implementation.
Initially this power plant will meet the present requirement of Ishwardi EPZ and its future needs.
After fulfillment of the requirement of the investors, they may sell their excess power to PDB/REB or any other organisation in their own arrangement.
A total of 32 Bangladeshi nationals will get employment opportunity in this company.
An agreement to the effect has been signed between the Bangladesh Export Processing Zones Authority and M/s Monticore Technology Limited at BEPZA complex Monday.
Prasanta Bhushan Barua member (Investment Promotion) of BEPZA and Amyn Hudda, Managing Director of M/s Monticore Technology Ltd signed the lease agreement on behalf of their respective organisations.
The Australia-Bangladesh jointly owned company will install this 50 mw power plant on 3,752.32 square metres area within the zone. The plant will go into service within 15 months.
The power plant will provide uninterrupted power supply to the operating enterprises of Ishwardi EPZ including adjacent area during peak and off peak hours.
Out of the developed 166 industrial plots in 28 sanctioned industrial units of the EPZ, three units are in operation at present and the rest are at various stages of implementation.
Initially this power plant will meet the present requirement of Ishwardi EPZ and its future needs.
After fulfillment of the requirement of the investors, they may sell their excess power to PDB/REB or any other organisation in their own arrangement.
A total of 32 Bangladeshi nationals will get employment opportunity in this company.
An agreement to the effect has been signed between the Bangladesh Export Processing Zones Authority and M/s Monticore Technology Limited at BEPZA complex Monday.
Prasanta Bhushan Barua member (Investment Promotion) of BEPZA and Amyn Hudda, Managing Director of M/s Monticore Technology Ltd signed the lease agreement on behalf of their respective organisations.