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SlDDHIRGANJ PLANT

$355m power deal with WB signed

UNB, Dhaka
The caretaker government yesterday successfully completed its negotiation with the World Bank to have a fund of $355 million for Siddhirganj 300MW peaking power project and a relevant gas pipeline construction.
The agreement on the financing came after a two-day meeting here between Power Division and a World Bank mission.
As per the negotiation, the World Bank will finance about $275 million concessional credit for the Siddhirganj Peaking Power Project (SPPP) through International Development Association (IDA) out of an estimated project cost of around $355 million.
pie rest of the fund will be utilized for the construction of a gas pipeline from Bakhrabad gas station to the proposed Siddhirganj plant to facilitate gas supply to the project.
The financing proposal now needs to be approved by the board of the World Bank which is expected to sit in October next in its headquarters, a senior World Bank official told UNB.
He said after the WB's board approval, the Bank will sign an agreement with the government to release the fund.
According to the World Bank the SPPP plant will be state-of-the-art. with two 150 MW simple-cycle gas turbines
Bangladesh suffers from an acute deficit of power generation at peak times. To improve the situation, an estimated investment of Tk 700-billion or roughly USD 10 billion per year, both public and private, will be needed over the next 10 years.
A recent World Bank mission concluded discussions with the government on SPPP components that also include environmental and social impact assessments of die project.
Electricity Generating Company of Bangladesh (EGCB), a new and corporatized BPDB-owned entity, will implement the project.
EGCB will also own another 240 MW to be built at Siddhirganj under a parallel Asian Development Bank project
The project also includes gas and power transmission components. The power transmission line will be owned and operated by the Power Grid Company of Bangladesh (PGCB).
SPPP will be run by an Operations & Maintenance (O&M) contractor hired from the international market for a period of six years. The O&M contractor will assist in lnsdtution.il strengthening of EGCB over that period in addition to the core O&M responsibilities.