Japan to give $1.5b more for Matarbari plant
Japan yesterday signed an agreement with Bangladesh to provide $1.5 billion in loans for the Matarbari coal-fired power project in Cox's Bazar.
This is the second instalment of the loan package. In the first instalment, 30 billion yen was provided. Now, 217.556 billion yen will be given, equivalent to $1.5 billion. About $1.67 billion has been provided so far under the loan package.
The rate of interest for this loan will be 1.6 percent, with the part concerning payments to consultants carrying an interest rate of 0.1 percent, said a press release from the embassy of Japan. The repayment period will be 30 years, including a 10-year grace period.
This project is being implemented to meet the growing electricity demand and involves setting up two units of 600MW power plant.
The total cost of the project is Tk 51,854.88 crore, of which Japan is providing Tk 43,921.03 crore, the Bangladesh government Tk 6,406.16 crore and Coal Power Generation Company Bangladesh Tk 1,527.69 crore.
According to the project plan, the implementation period is between July 2014 to December 2026.
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