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Incentives for Foreign Investors

Govt recasts Road Show schedule

UNB, Dhaka
Power and Energy Ministry yesterday recast the schedule of its planned Road Show to be held in three commercially important cities abroad to showcase investment opportunities and government's incentives for foreign investors.
According to the new schedule, the Road Show will be held in London on December 15-16 while in Singapore on January 25-26 and in New York on January 27-28.
Prime Minister Sheikh Hasina will be present at the London Road Show tiled Bangladesh investment Conference and RoadShow'.
Earlier, the Road Show was scheduled to be held from December 5-10 subsequently in London, Singapore and New York with a two-day event in each of the cities.
A high-level meeting at the Power and Energy Ministry brought the changes in the Road Show schedule. State Minister for Power Mohammad Enamul Haque presided over the meeting, attended by Prime Minister's Adviser Dr Towfiq-e-
Elahi Chowdhury and Board of Investment (Bol) Chairman SA Samad.
The Power and Energy Ministry planned to hold the Road Show in three commercially important cities abroad to attract investment worth billions of dollars into the fund-hungry twin-sector of thecountry.
As per the plan, the investment opportunities and government's incentives will be showcased for the foreign investors through seminars and one-to-one meetings.
The government will place offers for multinational investors to avail of opportunities of about USS 10 billion investment in the country's power and energy sector.
In the power sector, the government planned to set up 4 coal-based power plants having the total capacity of 2600 MW, two duel-fuel-run power plants each having 450 MW capacity and another two duel-fuel-run power plant each having 100 MW capacity either in private sector or under public-private partnership.
The energy-sector projects include setting up a large LNG (liquefied natural
gas) plant in private sector.
The government recently announced a mega plan for power and development for producing 7,000 megawatts of additional electricity and raising daily gas production to 3267 million cubic feet (MMCF) from 1988 MMCF within next 5 years.
According to an estimate, the power sector will alone require about USS 10 billion while the energy turf will need USS 5-6 billion.
Under the plan, about 10 large baseload power plants, having a total capacity of 3,700 MW, will be installed by privatesector sponsors or in public-private partnership (PPP).
These power plants include four large independent power producer (IPP) plants -- 540 MW Bibiyana combined cycle-11, 450 MW Meghnaghat Dual-Fuel plant, 450 MW Sirajganj plant and 210 MW Bhola, 100 MW Kaliakoir plant for IT park and 100 MW Savar plant for Leather Industrial City.
Setting up of four coal-fired plants, each having 450-600-MW capacity, is also there in the grand plan.