The state-owned Rural Power Company Limited (RPCL) will hold a meeting with Munshiganj administration on Monday to discuss about land requisition for setting up coal-fired power plant.
The government has taken initiative to build the plant having the power generation capacity of 350MW at Gazaria of the district.
Meanwhile, RPCL Managing Director Abdus Sabur has sent a letter to Munshiganj deputy commissioner to take steps for land acquisition to implement the project.
Sabur said a total of 350 acres of land will be required to set up the plant.
“The government plans to establish a planned industrial zone in the district. So, we should go to power generation for this industrial area,” the managing director told energynewsbd.com on Saturday.
RPCL chief said the finance of the power project may come in two ways. One is government to government basis with China and another is Export Credit Agency (ECA) basis.
An ECA is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export financing.
The investment of the project would require $550 million, said an official of RPCL.
The government has a plan to set up series of coal-based power projects to generate 20,000MW of electricity by 2030.
The Power Division has already set a 2,730MW of electricity target for RPCL by the year 2030.
The RPCL was the first Independent Power Producer (IPP) of Bangladesh. It has opened a new dimension of power generation in private sector of Bangladesh, because the 100% equity investment is mobilised locally.
The company has four power plants in Raozan of Chittagong, Kadda of Gazipur, Gazipur and Mymensingh with the total capacity of 437 MW.