GE, the largest US company, wants to invest directly in electricity

The Dhaka Times Desk A good news for the people of Bangladesh is that General Electric (GE), one of the largest companies in the United States, has expressed interest in investing directly in the power sector in Bangladesh.

Jeffrey Immelt, the chairman and chief executive officer of the company, who came to Dhaka, expressed this interest in an exchange meeting with the editors of various national daily newspapers and representatives of electronic media on October 3.
Jeffrey Immelt expressed the same interest after meeting Prime Minister Sheikh Hasina. Immelt is an employment and productivity advisor to US President Barack Obama.

In response to an editor's question whether GE will invest directly, Jeffrey Immelt said, "Bangladesh government will produce 20,000 megawatts of electricity by 2021. Keeping that in mind, we are keen to invest heavily in this sector in this country.” GE supplies gas turbines for power plants in various countries including Bangladesh. The company also deals in healthcare and aviation equipment.

The GE chairman said, “The economic progress of Bangladesh in the last few years is worth noting. GE wishes the people of this country a better and prosperous life. We would like to provide technical assistance to the government and our customers (GE customers) as well as direct investment to meet the power shortage in Bangladesh.” In response to an editor's question about the Russian-backed nuclear power project in Bangladesh, Immelt said with a soft laugh, “We also build reactors. The matter is under our consideration."

Contract for Supply of Gas Turbines

Before the exchange meeting at a hotel in the capital, GE signed a contract to supply two gas turbines worth $89 million to Bangladesh. These turbines will be used in two new power projects, which will generate 675 MW of electricity. Note that this is the first time GE's high quality gas turbine is being used in Bangladesh.

GE Power & Water will supply a 9F-3 series gas turbine and equipment to Spanish firm Isolang Ingenaria SA. Aisolang is constructing a power plant in Siddhirganj. The second gas turbine will be used in Summit Corporation's private power plant under construction at Bibiana.

The signing ceremony was attended by Minister of State for Energy and Mineral Resources Enamul Haque, Adviser to the Prime Minister on Energy and Power Taufiq Elahi Chowdhury, US Ambassador to Bangladesh Dan Mozina, Summit Group Chairman Aziz Khan, Isolang Chairman Louis Delso and GE India CEO John Flannery.