The Executive Committee of the National Economic Council (Ecnec) today approved the 1,200-megawatt Matarbari coal-fired power project worth Tk 35,984 crore.
Japan International Cooperation Agency (Jaica) will provide Tk 28,939 crore in loans for the project, Planning Minister AHM Mustafa Kamal told journalists after an Ecnec meeting.
Prime Minister Sheikh Hasina presided over the meeting at the NEC auditorium in the capital.
Mustafa Kamal said the power plant will add 600MW electricity by 2018.
Under the project, a deep-sea port, and a LNG based thermal power plant would be built at Matarbari in Moheshkhali of Cox’s Bazar.
The deep seaport would create the facilities for importing, handling and supplying coal for several power plants across the country.
On June 16, Jica signed the first financial deal worth US$ 406 million with the Bangladesh government in this regard.
According to the Power Sector Master Plan 2010, the country would need to set up coal-fired power plants with at least 20,000MW generation capacity by 2030 for the desired economic growth of the country.