Hyundai and Daewoo to construct 225MW power plant in Bangladesh

4 October 2011 (Last Updated October 4th, 2011 18:30)

South Korea’s Hyundai Engineering and Daewoo International will sign an agreement with Ashuganj Power Station for the construction of a 225MW power plant in Bangladesh.

South Korea's Hyundai Engineering and Daewoo International will sign an agreement with Ashuganj Power Station for the construction of a 225MW power plant in Bangladesh.

The plant, being built in Ashuganj, 90km north-east of the capital Dhaka, will supply power to the national grid.

Ashuganj Power company secretary Mizanur Rahman said the project is built at an estimated cost of $180m.

Standard Chartered will provide 80% of the finance for the project, reports Bloomberg.