Chinese Firm to Give 60 Million Dollars Credit for Bangladesh Power Scheme
A Chinese company is to give Bangladesh's electricity authority 60 million US dollars in credit as part of a deal for it to upgrade the power distribution system in the capital Dhaka, officials said Wednesday.
An agreement was signed between the Guangzhou International Economic and Technical Cooperation Company (GIETC) of China and the Dhaka Electric Supply Authority (DESA) on Tuesday, they said.
Once the 207-million-dollar project is implemented, power distribution capacity in Dhaka will rise by 360 megawatt from the present 1,200.
Energy Ministry officials said the demand for electricity in Dhaka has been rising by 10 percent per year.
The Asian Development Bank earlier pledged 141 million dollars for the project, expected to be completed by 2003 -- DHAKA (AFP)
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