The Financial Express

Nasrul banks on coordinated initiatives to ensure energy security

ERD Secretary, Chinese envoy sign SPM installation deal

| Updated: November 11, 2017 10:27:18

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Nasrul banks on coordinated initiatives to ensure energy security

State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said coordinated initiatives would ensure energy security in the country.

"We have given emphasis on easy availability of crude oil by using multi-lingual LNG, LPG or coal," he said while speaking as the chief guest at the Framework Agreement ceremony at NEC-2 conference room at Sher-E-Banglanagar.

Economic Relations Division (ERD) Secretary Kazi Shofiqul Azam and Chinese Ambassador to Bangladesh Ma Mingqiang signed the deal for financing the "Installation of Single Point Mooring (SPM) with Double Pipeline."

The state minister said it is necessary to adopt infrastructural master plan or economic development master plan for the country.

Seeking more Chinese assistance for implementation of various projects undertaken by the DPDC or PGCB, Nasrul said the Dhaka would be brought under uninterrupted power supply by implementing the DPDC's projects.

He said the opportunity has been created for investment of $25 billion in electricity and energy sector in Bangladesh.

The state minister also sought Chinese support for developing a disaster infrastructure rescue team, adding, "The amount of foreign aid in the SPM project is $554.40 million, out of which the flexible loan amount is $82.56 million and the amount of Preferential Buyer's Credit (PBC) is $467.84 million."

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