India: Matarbari power plant project cost may go up

The installment cost of the 1200MW ultra-super critical coal-fired power plant in Cox’s Bazar is likely to significantly increase by about Tk 14,000 crore as extra fund is required to ensure security for the foreigners working at the project. The state-owned Coal Power Generation Company Bangladesh Limited requires extra fund to ensure security for foreigners working at the power project, officials said. Besides, the resettlement cost of the project will also go up threefold, they also said. The cost of the power project was estimated at Tk 35,984.45 crore, which will now increase to about Tk 50,000 crore, state minister for power and energy Nasrul Hamid said.

“The increase in the power project cost is insignificant,” he said after visiting the project site at Matarbari in Cox’s Bazar on Friday. The power project has achieved 18 percent physical progress, the state minister said. “We have a plan to revise the development project proposal (DPP) and submit it immediately,” he said. Officials hope the power project which is being implemented by Japanese consortium of Sumitomo Corporation, Toshiba Corporation and IHI Corporation under EPC contract will start generating electricity by 2023.

During Nasrul’s visit to the project site, BPDB Chairman Khaled Mahmood, Coal Power Company Managing Director M Abul Quasem, Japanese Ambassador Hiroyasu Izumi and Chief JICA Representative Takatoshi Nishikata were present. During the visit, Nasrul Hamid expressed his satisfaction over the progress of the JICA-funded project. Prime Minister Sheikh Hasina is scheduled to visit the Matarbari power plant on January 25.

After the Gulshan terror attack on Japanese and Italian citizens, the Bangladesh government assured the Japanese government of ensuring security for foreigners. As a part of the government’s commitment, 195 security personnel have so far been deployed on the project site. The state minister said Japan has interested to build a Japanese economic zone and a deep-sea port here.