JERA’s investment in Meghnaghat power plant stands at $1b

Investment in Meghnaghat 718 MW power plant in Bangladesh by Japanese company JERA now stands at $1 billion, said a press release.

The project has received investment from Japan Bank for International Cooperation and Asian Development Bank. The other banks investing in the project are Mizuho Bank, SMBC, MUFG, Societe Generale, all of which are backed by Nippon Export and Investment Insurance, the release said.

Smitesh Vaidya, contracts and commercial head at JERA Meghnaghat Power Limited, said, ‘Thanks to the strong support of JERA as sponsor, the project has been able to sustain till now. We have requested support from ministry, BPDB and PetroBangla for achieving commercial operations within December this year.’

Source: New Age | 26 November 2024