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    Summit, Jera Plan Energy Project in Bangladesh

Summary

The project is expected to be functional within two years of signing the project agreement.

by: Shardul Sharma

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Summit, Jera Plan Energy Project in Bangladesh

Bangladesh’s Summit Corporation and Japan’s Jera signed a memorandum of understanding (MoU) in Tokyo to initiate an energy infrastructure project in the south Asian nation, Summit said May 29.

As per the MoU, the project will be capable of handling 20mn metric tons/year bulk cargo. “This large energy infrastructure project will provide impetus to Bangladesh's trade by development of various terminals for cargo and primary fuel in Matarbari area in Cox's Bazar,” Summit 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,” Summit Group chairman Muhammed Aziz Khan said.

The project is expected to be functional within two years of signing the project agreement between Summit, Jera and the government of Bangladesh with estimated investment of over $500mn.

“By signing this MoU, we 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,” CEO of Jera Asia Toshiro Kudama commented.