Saudi energy-giant ACWA Power intends to invest in a 1,000-megawatt (MW) solar power project in Bangladesh, local English language daily The Financial Express reported.

Saudi Ambassador in Dhaka Issa bin Youssef Al-Dahila revealed during a press briefing in the country’s capital that ACWA Power intends to invest in a 1000MW solar power project in Bangladesh. The company signed an memorandum of understanding (MoU) with Bangladesh’s energy ministry for a 730MW solar project.

An agreement is also expected to be signed between Saudi’s Red Sea Gateways Terminal (RSGT) and Bangladesh’s Chittagong Port Authority in a couple of months under which the company will operate the Patenga Container Terminal, the envoy said adding that RSGT also intends to operate some other new seaborne-cargo terminals at the Chittagong Port.

Ongoing discussions regarding Saudi Aramco’s plan to invest in the country’s refinery sector could also make some progress as the issue will be taken up for discussion during the upcoming visit of the Saudi investment minister to Dhaka, the envoy said.

(Writing by Sowmya Sundar; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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