GS Construction Secures Priority Project Rights for Bangladesh Power Distribution Lines... $700 Million Scale

On the 2nd, at the '4th Korea-Bangladesh PPP Joint Consultative Body' held in Yeouido, Seoul, (from left) Lim Jong-dae, GS Construction D.Energy Solutions Manager, Abul Bashar, Deputy Director of Bangladesh PPPA, Kausar Amir Ali, President of Bangladesh Dhaka Power Distribution Corporation, and Nazmul Abedin, Director of Bangladesh Power Development Board, are posing for a commemorative photo.

[Asia Economy Reporter Kim Hyemin] GS Engineering & Construction announced on the 3rd that it has secured the priority business rights to build a $700 million distribution line in Purbachal, Bangladesh's largest planned new city.

GS Engineering & Construction confirmed the priority business rights for the project at the 4th Bangladesh Overseas Investment Development Project (PPP) Joint Consultative Body held yesterday in Yeouido, Seoul. The Ministry of Land, Infrastructure and Transport and the Korea Overseas Infrastructure & Urban Development Corporation (KIND) acquired the distribution line project in Bangladesh, and GS Engineering & Construction holds the priority rights for the project.

This project involves establishing a distribution system in Purbachal New City, located 15 km from Dhaka, the capital of Bangladesh. It includes a 25 km distribution line, 12 substations, and the construction of a smart distribution management system, which will be operated and maintained for 25 years. The project cost is approximately $700 million, with GS Engineering & Construction expected to hold the largest stake.

This project is notable as a public-private partnership (PPP) model. KIND discovered the project in Bangladesh, and GS Engineering & Construction proposed specific participation, leading to its realization.

A GS Engineering & Construction official stated, "Once the feasibility study is completed and the project is finalized, we will establish and operate the latest smart distribution equipment and operation systems in Bangladesh," adding, "We expect this project to serve as a new business model proposing distribution PPP projects for new cities."

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