Confidence Cement acquires Zodiac Power Chittagong Ltd

Bangladesh's Confidence Cement has acquired a 51 per cent controlling share in Zodiac Power Chittagong Ltd. The new subsidiary is an independent power producer with a 54.36MW heavy fuel oil (HFO) power plant in Patiya, Chittagong.

Confidence Cement has also begun testing and commissioning of the Zodiac Power Chittagong power plant which consists of MAN Engines, with operations commencing on 30 August 2019.

Meanwhile, Confidence Power Holdings, an associate company of Confidence Cement, started commercial operation of its 113MW HFO plant, equipped with Bergen Engines, in Rangpur on 12 August 2019.