Wärtsilä Corporation (OMX: WRT1V) has been contracted to supply two more power plants to Bangladesh for a total overall output of over 200 MW. Both orders are from PowerPac-Mutiara Consortium (Power Pac from Bagladesh and Malaysian Mutiara Consolidated) owned projects. The other order contains is twelve 20-cylinder Wärtsilä 32 generating sets for PowerPac Mutiara Jamalpur Power Plant Ltd. These are initially designed to run on heavy fuel oil but can be switched to operate on natural gas as it becomes available. Wärtsilä sees this unique technology as a key for getting this order.
The Government of Bangladesh has started a programme to rapidly increase electricity generation in the country.These two power plants bring the current total of installed or to be installed capacity from Wärtsilä in Bangladesh to up to more than 1850 MW, with one third of them also operated and maintained by Wärtsilä. Both plants are scheduled to be operational in 2012 on fast-track basis and Wärtsilä has booked the orders in Q4 2011 accounts.
The company has a long working history in the country and was the provider of the engines for the first private sector power generation plant for Khulna Power Company Limited already in 1998. Currently Wärtsilä employs more than 500 workers in Bangladesh. Wärtsilä is up nearly 4% in an overall positive market this morning.
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