Bangladesh Power Development Board (BPDB) plans to install a dedicated gas-fired power plant for Japanese Economic Zone at Araihazar in Narayanganj with an aim to attract more investment from Tokyo.
The electricity will be supplied as per the tariff structure of the Industrial Zone, officials said.
BPDB will maintain and operate the power plant. The additional electricity produced from the plant will be supplied to the national grid, said official sources.
The BPDB moves to install the power plant as per the proposal by the Economic Zone Authority (BEZA) in September last.
According to Power Division, the government has taken decision to help install the Japanese Economic Zone at Arihazar in Narayanganj considering its location and extensive investment facilities.
To make the zone operative, the government needs to make an uninterrupted supply of electricity as well as other utility services which may also attract more investment from Japanese investors, official said.
The Executive Committee of the National Economic Council (ECNEC) approved a revised project last August to acquire additional 500 acres of land for Araihazar Economic Zone in Narayanganj following the demand of Japanese investors.
The original cost of the project titled ‘Acquisition of Lands for Setting up Economic Zones (Araihazar, Narayanganj, Mirsarai Economic Zones)” was Tk 761.75 crore, which now increased to Tk 3,195.81 crore in the revised project.
The main activities of the project are acquisition of 1,491.48 acres of land (991.48 acres for Araihazar and 500 acres for Mirsarai), development of 55,24,103 cubic metres of land and meeting cost of rehabilitation. The project period was extended to June 2019 instead of December 2018.