Qatar's Nebras buys stake in Bangladesh gas power project
Nebras Power, a joint venture of Qatar Electricity & Water Company (QEWC), has completed the acquisition of a 24% equity stake in Unique Meghnaghat Power in Bangladesh through its subsidiary, Nebras Power Investment Management (NPIM), QEWC said on February 28.
Unique Meghnaghat is constructing a 584 MW combined cycle gas turbine power plant at Meghnaghat in the Narayanganj district, approximately 27 km east of Dhaka. The plant will be powered by GE’s 9HA.01 gas turbine. It will supply electricity to the state agency Bangladesh Power Development Board for 22 years.
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NPIM has purchased the stake from Unique Hotel & Resorts (UHRL) and Strategic Finance (SFL). UHRL, SFL and General Electric will jointly hold the remaining 76% interest in the project. QEWC did not disclose the financial details of the deal.