$30b needed in next 5 yrs for energy, power projects: Nasrul

Around $30 billion investment is required in the next five years to undertake projects for the energy and power sector, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid.

Speaking with the newly appointed Japanese Ambassador Iwama Kiminori on the issue during a meeting at the secretariat on Tuesday, Minister Nasrul sought Japan’s cooperation in these sectors.

The minister proposed to form a power energy operation and maintenance company jointly with the East Asian country.

He also sought JICA’s cooperation to make Bangladesh Power Management Institute an international standard institute during the meeting.

The state minister said a smart power and energy master plan is needed for a smart Bangladesh, which will take all sectors forward behind the scene. “Japan can assist in adopting and implementing energy sector (gas and oil) master plans.”

Besides, they also discussed the Matarbari power hub, underground cables and substations, prepaid metres, smart metres, gas metres and other upcoming projects in the power and energy sector.

The Japanese ambassador congratulated the state minister for 100 per cent electrification of the country and said Japan will always cooperate in the development activities of Bangladesh.

Mentioning the success of the Japanese company ONUDA in making gas metres, he said more small and large Japanese companies will come to work in Bangladesh.

“The concept of ‘Smart Bangladesh’ will transform Bangladesh into a developed one by 2041,” he said.