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Bangladesh, Malaysian firms to build solar plant
Bangladesh, Malaysian firms to build solar plant

A Malaysian company will build a 30-megawatt solar power plant in Chittagong in partnership with a Bangladeshi firm in an effort to boost contribution of alternative energy to Bangladesh’s total power generation.

A memorandum of understanding (MoU) was signed between the two companies – Solar MNERGY Resources and Sanzi Textiles Mills Limited, a concern of Well Group of Industries – at Royal Chulan Hotel in Kuala Lumpur on the sidelines of the first-ever Bangladesh Trade and Investment Summit 2016.

Chairman and CEO of Well Group of Industries Syed Nurul Islam and Noorul Amin B Abdul Guduse signed the MoU of behalf their respective sides.

“We’ve agreed to invest around Tk 300 crore jointly to establish a 30-megawatt solar power plant in Bangladesh,” Syed Nurul Islam told UNB after signing the MoU.

He said both parties will arrange the funds for establishing the solar power plant as per a plan approved by the government in Bangladesh.

The technical and financial terms and conditions will be finalised by both parties after bilateral negotiations, and they will sign a formal contact early next year, Nurul Islam said.

Sanzi Textiles Mills Limited signed another MoU on the sane day with another Malaysian company, BNG Global Holding Limited, for building a housing project in Chittagong.

As per the agreed terms and conditions, Sanzi will arrange a piece of land near Chandgaon Police Station for the proposed project.

The total land area will be of 3695.25 sqm, while the total floor area will be of 23351.11 sqm, according to the MoU.

BNG Holding will arrange the funding required for the housing project as per plan approved by the Chittagong Development Authority (CDA).

The technical and financial terms and conditions will be finalised by the both parties after bilateral negotiation and both parties will sign a formal contact by March next year, Nurul Islam said.

S Sabrina and Syed Nurul Islam signed the MoU on behalf of Malaysian and Banhladeshi companies respectively.

Nurul Islam said the two projects would cost around Tk 500 crore.

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