DHAKA, Nov 8, 2017 (BSS) – Coal Power Generation Company Bangladesh Limited (CPGCBL) and MITSUI and Co. Limited of Japan today signed a memorandum of understanding (MoU) to construct a 500-600 megawatt LNG-based combined cycle power plant at Matarbari of Cox’s Bazar.

CPGCBL Company Secretary Md Mizanur Rahman and MITSUI and Co. Limited (Asia Pacific) Infrastructure Project Division General Manger signed the agreement on behalf of the respective institutions at CPGCBL conference room here, said an official release.

The release said the project will be implemented through joint venture and it will start generating power by December, 2021.

After the agreement signing ceremony, CPGCBL managing director Md Abul Quasem and representatives of MITSUI and Co. Limited called on State Minister for Power, Energy and Mineral Resources Nasrul Hamid at his Secretariat office.

The state minister welcomed the investment of the Japanese company and urged to invest more in the power and energy sector of Bangladesh.

Power Division Secretary Dr Ahmad Kaikaus and Power Cell Managing Director Mohammad Hossain were present on the occasion.