AES's power plants transfer deal okayed
UNB, Dhaka
The government yesterday approved the transfer deal between American power company AES Corporation and UK-based CDC Globeleq on the ownership of AES's two major power plants involving about US$ 500 million in investment.Representatives of the two foreign companies and officials concerned of Power Division, Ministry of Industries, Power Development Board and Titas Gas signed the transfer agreement. The agreement cleared the way for the AES to transfer the ownership of its Horipur and Meghnaghat power plants to CDC Globeleq, a sister concern of Commonwealth Development Corporation (CDC). The AES set up a 360mw power-generation plant at Horipur in September 1998 and another 450mw plant at Meghnaghat in July 1999, both in private sector, on `build-own-operate (BOO)' basis. At present the plants add 810mw of electricity to National Grid, meeting nearly one-fourth of the country's total demand for power. The World Bank, Asian Development and some other financial institutions extended credit support to the AES investment in Bangladesh's power sector.
| 
