Samsung C&T's construction unit (CEO Lee Young-ho) has won an order for a combined thermal power plant in Meghnaghat, Bangladesh, ordered by Reliance Bangladesh LNG & Power Limited.
Samsung C&T received a Letter of Award for the project on Sept. 30. Total construction cost is 630 million U.S. dollars, which is about 750 billion won. Samsung C&T will carry out the project on its own for 34 months. Construction is scheduled to begin in October 2019 and be completed in July 2022.
It is a construction project to build a 718-MW combined thermal power plant, including two gas turbines, one steam turbine, and a substation in Narayanganj, about 25 kilometers southeast of the Bangladeshi capital, Dhaka.
The Meghnaghat combined thermal power plant is located in the Meghnaghat Industrial Complex. After its completion, it will not only expand the electricity demand for industrial complexes, but also provide residential power to the capital city of Dhaka and other neighboring areas.
According to the IMF report, Bangladesh has been growing rapidly since 2016, recording an annual economic growth rate of over 7 percent. Demand for new power plants is expected to increase in the future as electricity consumption is increasing along with economic growth.
Samsung C&T is currently carrying out the Siddhirganj combined thermal power generation project in Bangladesh, and it is strengthening its position in the Bangladesh power generation market with the order of the Meghnaghat project. Last year, it won an order to build Jawa-1 (Jawa-1) combined thermal power plant in Indonesia, expanding its scope in the Asian power generation market.