Wartsila plans big in Bangladesh

Wartsila Bangladesh plans to increase its business operation in the country in the next 15 years.
The Finland-based energy solution provider is also set to contribute to generating 500 MW power.
Bangladesh offers huge investment opportunities as an emerging market, said Bjorn Rosengren, president and CEO of Wartsila Corporation, who is now visiting the country.
Rosengren put forward a set of his company's future plan at a press briefing at Radisson hotel in the city recently.
“Currently, our company makes up 5 percent business in Bangladesh, out of total 4.8 billion euro in 70 countries across the globe. It is witnessing consistent growth since the beginning of its business in Bangladesh in the early 90s,” Rosengren said.
"When we talk about flexi base power, maybe we have 70-75% market share in the world for this kind of plants" he said, adding that the company has established around 55,000 MW power generation capacities at 200 locations in 70 countries.
He said around 2,200 MW power generation capacities have been installed by the company in 40 power plants in Bangladesh.
“We know that there is a crying need for power in Bangladesh. Power is a sensor for any emerging countries like Bangladesh, who has an ambition to grow by doubling its existing power generation capacity by 2020.”
Without power, no emerging countries like Bangladesh will be able to achieve its desired growth, he said.
He said the company's technology is suitable for liquid fuel and gas-based power plants of Bangladesh, which are the special features of the company.
“We have well established ourselves in Bangladesh over the last decades through providing all kinds of supports, including complete lifecycle solutions, technical support, field service, up-gradation, conversion, safety and monitoring solutions.”
The company has set up two workshops: one at Chittagong and another at Gazipur, he said.
The goal of the company is to be a globally recognised leader in heavy fuel oil and dual-fuel power plants by enhancing its value proposition and by influencing and actively developing selected target markets, he said.
“In the next 10 years, we will have a huge amount of investment for establishing LNG terminals across the world.”
Rakesh Sarin, president (power plants) and executive vice president of Wartsila Corporation; Marco Wiren, chief financial officer of Wartsila Corporation; and Jillur Rahim, managing director of Wartsila Bangladesh, were present at the briefing.