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2019-10-21 13:10:00

SAUDI'S INVESTMENT FOR BANGLADESH $3 BLN

SAUDI'S INVESTMENT FOR BANGLADESH $3 BLN

MEED - Saudi Aramco and Saudi utilities developer Acwa Power have signed a memorandum of understanding (MoU) with the Bangladesh government to develop a $3bn liquefied natural gas (LNG) terminal and power plant in the South Asian country.

Acwa Power's chairman Mohammad Abunayyan was reported as saying the $3bn direct investment would be made by 2020. The project will be Acwa Power's largest gas-to-power project and the first partnership with Saudi Aramco for such a scheme.

The LNG terminal will be developed in either the Moheshkhali area of Cox's Bazar…

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