As a leader in power supply and related infrastructure development in Bangladesh, we intend to expand domestically and selectively replicate our business’s success in powering Bangladesh through overseas expansion plans in similar emerging markets across Southeast Asia.
The company has recently completed two flagship projects – Meghnaghat and Bibiyana II, among the largest power plants in the country, using the latest technology. With combined gross capacity of over 650MW and costing over USD 600m, the projects were funded by multiple parties including international financing organizations.
We expect to almost double our generating capacity over the next 3 years, and currently have three committed projects totaling approximately 1,054 MW under construction and advanced planning stages. Gazipur II is a USD 190 million reciprocating project with a capacity of 307 MW while Gazipur I is a USD 101 million reciprocating project with a capacity of 156 MW. We anticipate commencement of production for both these projects in Q2 2018. Our third project currently under construction in Bangladesh is the Meghnaghat II, a dual-fuel CCGT GE H Class plant with gross capacity of 590 MW. The expected cost of the project is estimated at USD 501 million and anticipated commencement of production in early 2020. We are also constructing 500 mmcfd Floating Storage and Regasification Unit (FSRU) to support the country’s effort to import LNG.
In addition, we maintain a further strong development pipeline of opportunities totalling over 3GW.