GE, Mitsubishi form joint venture for Bangladesh projects

General Electric and Mitsubishi are forming a joint venture with a Bangladesh private power firm to invest $3 billion in setting up a 2,400 MW thermal power plant and oil and liquefied natural gas terminals.

Summit Group, a Bangladeshi firm, will hold a 55% equity stake while Mitsubishi will take 25% and GE 20%.

The project involves four thermal units of 600 MW each, a 380K cm capacity LNG terminal and oil terminals with 100K metric tons of capacity.