power

Biggest US investment: GE signs 7.4 bn power, LNG deals

MNA Business Desk: US Company General Electric (GE) signed two separate deals to implement a number of power and energy projects worth about $7.4 billion in joint venture in Bangladesh.

Japanese firm Mitsubishi Corporation is also a partner in the GE-Summit initiative signed separately with state-owned PDB and with Summit Group, a local business house, on Wednesday.

Under the deals, GE-Summit-Mitsubishi will set up a gas-fired 2,400 MW power plant, having four combined cycle units of each 600 MW and also two units of LNG onshore terminals with total 380,000 cubic meter capacity, oil terminals with 100,000 MT capacity and 300 MW HFO-based power plant.

The GE-Summit-Mitsubishi joint venture will invest $3 billion for their projects, reported news agency.

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