Bangladesh, China sign five deals on power during Hasina’s visit

Dhaka has signed five deals with Beijing to improve power transmission and distribution systems in Bangladesh.

The agreements followed bilateral talks between Prime Minister Sheikh Hasina and her Chinese counterpart Li Keqiang at the Great Hall of People on Thursday.

Dhaka Power Distribution Company or DPDC will receive $1.4 billion in loans under the agreements.

The Power Grid Company of Bangladesh or PGCB will get over $280 million and Bangladesh government will get over $70 million under the framework agreements, according to officials of the Economic Relations Division.

FIVE DEALS

# Framework agreement of expansion and strengthening of power system network under DPDC

# Government concessional loan agreement of expansion and strengthening of power system network under DPDC area project

# Preferential buyer's credit loan agreement of expansion and strengthening of power system network under DPDC area project

# Framework agreement of power grid network strengthening project under PGCB project

# Agreement on economic and technical cooperation between Bangladesh and China

On the deals, DPDC Executive Director (Engineering) Md Ramiz Uddin Sarker told bdnews24.com the loan was being taken to implement a DPDC development project worth $1.65 billion.

Of the amount, Bangladesh will provide $247 million and China $381 million. And Exim Bank of China will lend $1.02 billion.

Under the five-year project, 14 grid substations with 132/33 kV voltages each and 40 sub-stations with 33/11 kV voltages each will be built in Dhaka and Narayanganj.

Besides, some high-rise buildings will be constructed for the DPDC, among which there will be a twin tower in Hatirpool area and a 20-storey building in Hatirjheel.

The PGCB will implement 14 projects, including expansion of the transmission line, with the loans, according to officials.

Apart from the five agreements, the two memoranda of understanding have been signed between the two nations on the establishment of investment cooperative working group and hydrological information sharing of Yalu Zhangbo and Brahmaputra River, and cultural exchange and tourism programme.

Under another agreement, China will provide the forcibly displaced Rohingyas from Myanmar with 2,5000 tonnes of rice.