$30b investment required in power, energy sector in next 5yrs

The country's power and energy sector will require a $30 billion investment over the next five years, and the government seeks assistance from China in this regard.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid said after emerging from a meeting with Yao Wen, Chinese Ambassador to Bangladesh, held his Secretariat office in Dhaka on Monday.

“We will require a $30 billion investment in our power and energy sector over the next five years, based on demand. Our friend country China may stand beside us on a larger scale in this regard,” he said.

Nasrul said he also discussed a wide range of bilateral issues between the two countries during the meeting, reports a press statement of the ministry.

In the statement, the Chinese ambassador noted that mutual cooperation between the two countries is increasing gradually, and Bangladesh is expected to emerge as a prosperous, strengthened, and developed country in the next five years.

During the meeting, discussions were held on projects financed by China, including the establishment of a lithium battery factory, semiconductor factory, electric vehicles, battery storage systems, smart meters, solar power, wind power, electricity generation from waste, gas extraction, and other initiatives.

Welcoming the Chinese ambassador, Nasrul said, "China is a tested friend of Bangladesh, and the country is making a significant contribution to ensure the progress of our power and energy sector.”