POWERCHINA's Bangladesh power plant makes progress

The banking consortium of the S Alam 2×660MW supercritical coal-fired plant in Bangladesh, a project funded and EPC-contracted by POWERCHINA's subsidiary SEPCOIII Electric Power Construction Co (SEPCOIII), held its first meeting on March 15, 2016, marking a significant step forward for the project.

The consortium, established on March 14, includes the Bank of China, Export-Import Bank of China, China Construction Bank, China Merchants Bank, and Ping An Bank.

The meeting focused on project financing, terms of loans, structure of the project company, key agreements and due diligence.

The S Alam power station, located in Chattogram, Bangladesh, will have two 660MW supercritical coal-fired power units and will make use of imported coal, Chinese equipment and materials, and seawater cooling technology. A port will be built to unload coal.

The project has an expected construction period of 45 months and is expected to operate for 30 years. Preparatory work is now in full swing, and the EPC contract has been signed.