BD needs $82.5b investment in energy sector by 2041

FT ONLINE

State Minister for Power and Energy Nasrul Hamid has said Bangladesh needs $82.5 billion investment by 2041 for its potential power and energy sector.

"The investment can come from both public and private sector. We welcome any investment from USA as investment from American companies is lower compared with companies from other countries," Nasrul Hamid said.

The state minister urged American companies to invest in power and energy sector in Bangladesh.

Nasrul Hamid came up with the statement during a meeting with US Assistant Secretary of Commerce Ian Steff at International Trade Administration in Washington DC of the United States on Tuesday.

"US companies can make a good contribution to power and energy sector Bangladesh through direct investment as we require huge investment in the sector," he said

He noted that there is a good business potential in energy sector as LNG and LPG can play a vital role in ensuring the country's energy security.

He informed the US Assistant Secretary that Bangladesh has been conducting hydrocarbon exploration activities while online service, (supervisory control and data acquisition) SCADA and enterprise resource planning (ERP) is taking place in different departments.

American companies can invest in such business as well, he added.

Appreciating Bangladesh's quick development, the US Assistant secretary expressed his country's desire to open a trade office in Dhaka to promote American business in Bangladesh.

Petrobangla chairman Abul Mansur Md. Faizullah was present on the occasion.