DHAKA — Bangladesh's government said Sunday it was seeking five billion dollars of foreign investment for power and gas projects to end a chronic energy crisis in the fast-growing country.
Towfiq-e-Elahi Chowdhury, energy advisor to the prime minister, said officials would meet with foreign companies in London this week for talks on investing in nine power plants and a liquefied natural gas (LNG) terminal.
"At least 50 companies have registered to attend," Chowdhury told AFP. "We need foreign investment to produce more than 3,200 megawatts of electricity and to build an LNG terminal in the Bay of Bengal.
"Together, the nine projects would require around five billion dollars' investment," he said, adding that the government would sign contracts for the projects next year.
Impoverished Bangladesh has long suffered severe power outages, and the strain is getting worse with its economy growing at around six percent annually over the past seven years.
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