Dhaka, Bangladesh (BBN)- The Saudi government will provide US$ 53.33 million in loan for implementing the proposed Shikalbaha 225-megawatt power plant in Chittagong, officials said.
Bangladesh government and Saudi Fund for Development (SFD) signed a 200 million Saudi Arabian Riyals (US$ 53.33 million) loan deal in the capital Dhaka on Thursday.
Joint Secretary of the Economic Relations Division Nurjahan Begum and Director General of Saudi Export Programme (SEP) Ahmed M Al-Ghannam signed the deal at a function in Dhaka.
Charge de Affaires of Saudi Embassy in Dhaka Zadi Naif Al-Raquaas and high officials of Power Division and PDB were present at the ceremony.
The $270.75 million Shikalbaha power plant is expected to meet the growing electricity demand in Chittagong port area.
Three other financers — Kuwait and UAE government and the OPEC fund -- will provide $114.40 million worth of credit for the power station.
Kuwait has already confirmed US$ 53 million loan for the power station. The UAE's Abu Dhabi Fund for Development (ADFD) will provide $31.4 million while the OPEC Fund for Development $30 million for the plant, according to reports.
BBN/SSR/AD-22Nov12-9:23 pm (BST)
