Contracts signed to set up 2,000 MW power plant in Dinajpur

GCM Resources plc and Chinese state-owned POWERCHINA have signed a joint venture agreement (JVA)—and an engineering, procurement, and construction (EPC) contract—to set up a 2,000MW mine-mouth, coal-fired, power plant in Dinajpur.

The contracts were signed at a ceremony at Radisson Blu Water Garden Hotel, in Dhaka, on Thursday. 

On behalf of GCM Resources, Md Badruzzaman and Md Firoz Zaman signed the contract; while Xiong Li Xin and Pan Deng Yu signed it representing Powerchina.

Officials of GCM Resources—that conducted a feasibility study for the Phulbari coal mine—said the new venture will invest an approximate US$4 billion in the project.

They said the proposed project is part of a broader strategy by GCM Resources to generate 6,000MW of low-cost electricity for Bangladesh’s market—utilizing domestic coal—providing an estimated US$12.5 billion in foreign direct investment (FDI).

The power plant will use ultra supercritical technology, with its high-energy efficiency, to enable maximum power generation from the coal, provide lower levels of emissions, and deliver the lowest-cost power.

Datuk Michael Tang PJN, executive chairman of GCM Resources; engineer Rashed Mahmud, managing director, DIPON Group; Anis Khan, managing director, Mutual Trust Bank; Ding Zheng Guo chairman, POWERCHINA China International; Lin Wei Qiang, chairman, Chinese Chamber of Commerce Bangladesh; and Xu Jiang Long vice president, POWERCHINA Eurasia were present at the event, among many others.