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Saudi keen to invest in power sector

DHAKA, ACWA Power and Saudi ARAMCO are keen interest to make investment in Bangladesh's power and energy sector.

A four member delegation of two Saudi Arabian companies, who are now visiting Bangladesh, expressed their interest during a meeting with State Minister for Power, Energy and Mineral Resources Nasrul Hamid at his ministry office today.

Welcoming the delegation, the state minister said Bangladesh will welcome Saudi Arabian's investment and said huge prospects are there for investment in power and energy sector in Bangladesh.

Saudi companies have shown interest and ready to invest in the existing projects, he said.

The state minister urged ACWA Power and Saudi ARAMCO to submit specific proposals for investment. Later, Nasrul Hamid selected a joint secretary (Development) to look extensively for the possible Saudi investment and their proposals.

Both the state minister and the delegation had extensive discussion on the power and energy sectors for cooperation.

During the meeting, ACWA Power showed interest for investing in power generation and LNG/Gas supply. The company is also interested to work in solar production and its development.

The two companies also expressed their desire to work jointly in the projects taken by Bangladesh.

Source: Bangladesh Sangbad Sangstha (BSS)