Dhaka, April 26: The cabinet on Monday approved a proposal for establishing the Coal Power Generation Company of Bangladesh Limited under the Bangladesh Power Development Board.
The Power Division placed the proposal at a weekly meeting of the cabinet presided over by the prime minister, Sheikh Hasina.
'The government has approved the proposal for establishing a company for coal-based power as the cost of power generation from gas or oil is much high,' the prime minister's press secretary Abul Kalam Azad told reporters after the meeting.
A Power Division official told New Age that the company would be formed aiming at generating 20,000MW of electricity by 2030 through setting up of coal-fired power plants.
The company will have a capital of Tk 8,00 crore and it will implement a series of power plants in the public and private sectors, he said.
The BPDB chairman would be the chief of the company while the 10-member board of directors would run it, he said.
A PDB official told New Age that the company would deal with coal-based power plants that would be installed under public-private partnership and under a joint venture with India's NTPC.
He said that the company would form a 50-50 partnership with NTPC to install a 1,320MW coal-based power plant in Khulna.
'We wanted to form a separate company to deal with NTPC and to give the joint venture a corporate look which is not possible under PDB,' he said.
The government recently signed a memorandum of understanding with India for setting up the coal-based plant under a joint venture.
Source: New Age
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