A Korean firm has expressed its interest in installing a 40MW floating oil-fired power plant in Bangladesh.
The Korean company, IMT Inc, made the proposal to Bangladesh Embassy in South Korea which has forwarded the offer to the power division recently.
Bangladesh ambassador to South Korea Abida Islam in a Demo-Official (DO) letter sent to the power division pointed out that a Korean medium-sized oil company IMT Inc showed its interest to invest in the country’s power sector.
The Korean company exports oil by using its own vessels and also installs power plants on floating barges to produce clean electricity.
Its installation costs are much lower than the coal-based thermal power plants and the plant is environment friendly, according to the letter.