Bangladesh Finance Minister Abul Maal Abdul Muhith said Bangladesh is seeking over $9bn in foreign investment to build power plants to meet growing demand. He discussed the possibility of Saudi investments during a trip to Saudi Arabia.

Muhith said the Bangladesh government is devising means to attract capital from both external and domestic sources for investment in the next two decades, with a number of initiatives to attract investment to the power sector.

“This will be the biggest opportunity being opened up for private sector investment since the country’s independence,” he said, referring to a $9bn plan to install 7000 MW by 2014.

“We want a firm commitment from the stakeholders – both public and private – for coming out of the current catastrophic power and energy crunch. The government is exploring alternatives to exploit the use of coal, natural gas, LNG, hydro and nuclear plants to resolve the energy crisis.”

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