Aggreko signs $150m Bangladesh contract
27 April 2010
Aggreko has signed an agreement with the Bangladesh Power Development Board (BPDP) to supply 200 MW of temporary power. The agreement has an estimated value of US$150 million over three years.
The UK rental company said that Bangladesh has recently been affected by power shortages caused by increased industrial and domestic demand. Power demand is now exceeding supply and there are widespread power cuts.
Aggreko, which is already renting 40 MW of power in Bangladesh, will provide 100 MW of power at 132 kV and 100 MW at 33 kV. The first tranche of power will be operational on 1 July 1 with the entire project scheduled to be commissioned in August 2010.
Rupert Soames, chief executive of Aggreko, said: "Ensuring that industrial, agricultural and domestic users have a reliable power supply is vital to any economy, which is why Aggreko's fast-track power provision is an excellent solution for BPDP.
"This 200 MW plant, to be delivered within a few months, will have a noticeable impact on the quality of power supply in the country, allowing the authorities to focus on the implementation of permanent power infrastructure."
Meanwhile, Aggreko issued an interim management statement in April in which it said that trading was in line with expectations in the three months to 31 March, with overall revenues growing by 8% on a constant currency basis.
Local business revenues in constant currency grew by 8% - helped by revenues from the Vancouver Winter Olympics and the FIFA World Cup. In constant currency local business revenues grew by 21% in North America and by 11% in Aggreko International; they fell by 4% in Europe and Middle East.