The Government of Bangladesh has undertaken various projects for generating electricity to bring all citizens under power coverage by 2021 through coordinated programs in the power sector. As part of the government’s plan to bring all people under electricity network state-owned Rural Power Company Limited (RPCL) and Chinese state-owned NORINCO International Cooperation Ltd (NORINCO) would install a 1,320 MW coal fred thermal power plant in the vicinity of Payra seaport in Patuakhali. To implement the project, a Joint Venture Company “RPCL-NORINCO Intl Power Limited” (RNPL) was formed and registered with the Registrar of Joint Stock Companies and Firms, Bangladesh on 21.12.2017 under the banner of RPCL and NORINCO. RPCL will acquire 915 acres of land by resettling approximately 350 nos. of families for implementing the power project. A modern village with schools, shops, community centers and mosques will be set up on 25 acres of land for the families afected by the land acqisition. This project comprises of construction of jetty and coal handling facilities for coal import, coal storage, power plant construction, township development and construction of transmission facilities and road communication.
According to the project profle, this will be a two-unit ultra super critical coal fred power plant costing USS 2.5 billion with 50550 share equity. The ratio of equity investment will be 30 percent while rest 70 percent would come as Overseas Loan. The power plant will go into commercial operation in 2022. RNPL has already invited international Tender for selection of EPC Contractor through competitive bidding. The Tender evaluation is in progress. It is expected that the construction work will be started within January 2019