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Summit and JERA Asia to develop energy infrastructure

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LNG Industry,

Summit Corp. and JERA have signed a memorandum of understanding (MOU) to develop a large energy infrastructure project in the Matarbari area in Cox’s Bazar, Bangladesh.

The project will be capable of handling 20 million tpy of bulk cargo, and will provide impetus to Bangladesh’s trade through the development of various terminals for cargo and primary fuel in the Matarbari area.

According to Reuters, this is part of the country’s largest infrastructure project. Under the overall government project, Reuters reports that a deep seaport will be constructed at Matarbari, four units of a coal-fired 2400 MW power plant, and an LNG-fuelled power plant, which will also have facilities at Matarbari.

Founder Chairman of Summit Group, Muhammed Aziz Khan, said: “This project of Summit with JERA Asia has the potential to save billions of dollars for Bangladesh for years to come by providing logistics and handling thus maintaining supply-chain more efficient enabling Bangladesh to achieve each of her visions.”

CEO of JERA Asia, Toshiro Kudama, added: “By signing this MOU, we would like to further accelerate the development of energy infrastructure projects in Bangladesh together. JERA would like to work together and would like to support a very important country for us – Bangladesh, with our investment and bringing state-of-the-art technologies and our excellence in management.”

According to the statement, the project is expected to be functional within two years of signing the project agreement between Summit, JERA Asia and the Government of Bangladesh, with an estimated investment of more than US$500 million.

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