Qatar-based Nebras Power Investment Management (NPIM) has acquired 24 percent share of Unique Meghnaghat Power Limited, a private power plant in Bangladesh.
The NPIM bought the shares from Unique Hotels and Resorts Limited (UHRL) and Strategic Finance Limited (SFL), says a report.
The UHRL, SFL and General Electric (GE) jointly own the remaining 76 percent of the project. No financial details have been released about the deal.
Chowdhury Nafeez Sarafat, Bangladesh’s one of top businessmen, is the Managing Director (MD) of Unique Meghnaghat Power Limited (UMPL).
Unique Meghnaghat is constructing a 584 MW combined cycle power plant at Meghanaghat in Sonargaon of Narayanganj.
Once completed, the plant will be one of the largest 'independent power generating' projects in Bangladesh. It will supply power to Bangladesh Power Development Board for the next 22 years.
Nebras Power is a joint venture between Qatar Electricity and Water Company (60 per cent) and Qatar Holding (40 per cent). The company is a strategic investor in the power and water sector.
