2 Saudi firms mulling investment in power & energy sectors

BDApparelNews Desk
30 April 2019  

State Minister for Power, Energy and Mineral Resources Nasrul Hamid (centre) with representatives of the two Saudi companies. Photo Courtesy: PID

State Minister for Power, Energy and Mineral Resources Nasrul Hamid (centre) with representatives of the two Saudi companies. Photo Courtesy: PID

Two Saudi Arabian companies have expressed interest to invest in power and energy sectors.

Representatives of ACWA Power and Soudi ARAMCO conveyed their interests while meeting State Minister for Power, Energy and Mineral Resources Nasrul Hamid at the latter’s ministry office on April 29, 2019, reads a press release of the ministry.

ACWA Power expressed interest in power generation and LNG supply in Bangladesh. It also voiced interest in working with the solar power generation. Also, during the Saudi delegation’s visit back in January, Soudi ARMACO wanted to install an oil refinery in Bangladesh.

It is to be noted that Bangladesh is on the verge of finalising a memorandum of understanding (MoU) between Al fenar Company, Saudi Arabia and Electricity Generation Company of Bangladesh (EGCL) for a 100MW solar power generation centre.

State Minister Hamid said, Bangladesh will welcome Saudi Arabian investment. He also upheld that there is tremendous potential in Bangladesh’s energy and power sector. He also said that other Saudi companies can also consider investing in these sectors of Bangaldesh.

Among others present in the meeting were Bangladesh’s Ambassador to Saudi Arabia Golam Moshi, Power Division’s Additional Secretary Md Shafiqullah, ARMACO Vice President Abdulsalam Alhamzi, ARMACO’s Business Development Manager Julio Hasselmeyer Moses, ACWA Power Director Ayad and its General Manager Mohammad Ahmea M Khatir.