Midland Ashuganj Natural Gas Plant

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Midland Power was planning the development of the 51MW Ahuganj Natural gas fired power plant, Ashuganj, Bahmanbaria district, Bangladesh. Midland Power was a joint venture between Viyellatex Group and Youth Group, from Bangladesh. The project was developed under the IPP policy of Bangladesh, with a PPA with Bangladesh Power Development Board (BPDB). Bakharabad Gas Distribution Company was responsible for the gas supply contract. The equipment turbine was to be supplied by Rolls Royce, from Norway. Commissioning was expected for December 2012. Total project cost was US$32 million, of which US$21 million in debt was provided by Standard Charter, as sole arranger and lender. The financial Express, StanChart to finance $32m to Midland Power, 15 August 2012.