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Credit agreement worth US$74.52 ml signed today between Bangladesh and a Chinese electric company |
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News |
May 25, 2000
Dhaka, May 24 (UNB) – A supplier’s credit agreement worth US$74.52 million was signed here today (Wednesday) between Bangladesh and a Chinese electric company for rehabilitation and renovation of some power grid substations and transmission lines.
Economic Relations Division (ERD) secretary Dr Masihur Rahman and M/S China National Electric Wire and Cable Import-Export Corporation (M/S CCC) president Song Yue Ming signed the agreement for the respective sides at ERD.
The loan will be utilised for the implementation of the project “Rehabilitation, Renovation, Augmentation of 29 nos. 132Kv Grid Substation and 810 Km Transmission Lines (Phase-II)” under Bangladesh Power Development Board, said a press release.
The main objectives of this project are to enhance the capacity of existing 25 grid substations at Bagerhat, Mongla, Jessore, Jhenidah, Natore, Nawabganj, Naogaon. Noupara, Bhandaria, Batail, Sirajganj, Choumohoni, Feni, Cox’s Bazar and Comilla and renovation of 24 more substations.
“It would ensure sufficient power supply in REB feeders, renovation of some existing 132Kv transmission line to increase transmission capacity, reduction of system loss and low-voltage problem,” said an official release.
The project is expected to complete within 2002-2003. |