China Machinery Engineering Corporation (CMEC) is going to invest around $300 million to implement Bangladesh's first waste-to-energy project at Aminbazar.
The Chinese company will set up a 42.5-megawatt waste-to-energy power project, Nasrul Hamid, state minister for Power, Energy and Mineral Resources, said in a press statement on Monday.
CMEC, Bangladesh Power Development Board, and Dhaka North City Corporation (DNCC) will sign a tri-party agreement on Wednesday at a city hotel in this regard, said a press release.
Md Tazul Islam, minister of Local Government and Rural Development, will attend the signing event as the chief guest.
Power division has long been pursuing the waste-to-energy power project to ensure proper municipal waste management.
Earlier, the first waste-to-energy project was planned to be built at Keraniganj, but the plan could not be implemented due to several technical and financial issues.