Bangladeshi energy giant Summit Group and Japan’s Energy for New Era on Wednesday signed a memorandum of understanding in Tokyo to set up a mega energy infrastructure at Matarnari in Cox’s Bazar.
The project would have the capacity to handle 20 million tonnes of bulk cargo a year.
It would provide impetus to Bangladesh’s trade by development of various terminals for cargo and primary fuel at Matarbari, said Summit Group.
The project was expected to be functional within two years of signing the agreement between Summit, JERA Asia and the government of Bangladesh with estimated investment of over $500 million.
Faisal Khan, director of Summit Group, and Toshiro Kudama, CEO of JERA Asia, signed the memorandum on behalf of their respective companies.
Prime minister Sheikh Hasina witnessed the signing of the deal at Hotel New Otani in Tokyo.
State minister for power, energy and mineral resources, Nasrul Hamid, state minister for foreign affairs Shahriar Alam, principle secretary to the prime minister Nojibur Rahman, principal coordinator of SDGs and chairman of MIDI (Moheshkhali-Matarbari Integrated Infrastructure Development Initiative) Md Abul Kalam Azad, and ambassador of Bangladesh to Japan Rabab Fatima, and Summit Group chairman Muhammed Aziz Khan were present, said a release of Summit Group.
Aziz Khan said, ‘This project of Summit with JERA Asia has the potential to save billions of dollars for Bangladesh for years to come by providing logistics and handling thus maintaining supply-chain more efficient enabling Bangladesh to achieve each of her visions.’
JERA Asia CEO Toshiro Kudama said by signing this memorandum, they would like to further accelerate the development of energy infrastructure projects in Bangladesh together.’ JERA would like to work together and would like to support a very important country for us-Bangladesh, with our investment and bringing state-of-the-art technologies and our excellence in management,’ he added.
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