South Korea’s Hyundai Engineering and Daewoo International Corp and Bangladesh’s state-owned Ashuganj Power Station Co are to build a 225 MW gas fuelled power plant in Bangladesh, reports Reuters.

The plant in Ashuganj, 90 km northeast of Dhaka, is due online by the end of 2013, a senior official told the agency.

“The investment in the project will be around $175m of which nearly 80 per cent will be financed by the Standard Chartered Bank,” said Mohammad Saiful Islam, a director of state-run Bangladesh Power Development Board (BPDB).

Bangladesh is estimated by officials to have a total capacity of 4200 MW, leaving a shortfall of 1500 MW.

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