May 23, 2017 (LBO) – Sri Lanka’s Lakdhanavi, the power generation arm of LTL Holdings, has been awarded a contract by Bangladesh Power Development Board (BPDB) to construct a 114 MegaWatt thermal power plant in the country.
The award was through international competitive bidding process, the company said a statement.
The Company expects to finance the project which will require an investment of USD 100 million approximately through a project loan from international development finance institutions under very competitive terms and the sponsor’s equity contribution.
The thermal power plant will use Heavy Fuel Oil (HFO) on build, own and operate basis to supply electricity to the national grid of Bangladesh for 15 years.
This will be the 5th power plant that will be built in Bangladesh my LTL.
The company will sign the relevant Power Purchase Agreement (PPA) and Implementation Agreement (IA) with BPDB and the Ministry of Power Energy and Mineral Resources (MPEMR) of Bangladesh soon and complete the construction work within the prescribed tenure of 18 months.