Japan funding fuels development boom on Bangladesh coast

New power plant and port come at crucial point in country's economic development

20230623N Matarbari power plant

Bangladesh's first deepwater port will be built here near the Matarbari coal-fired plant, which is nearing completion. (Photo by Toru Takahashi)

TORU TAKAHASHI, Nikkei senior staff writer

TOKYO -- The Japan-led development of a coastal economic corridor in Bangladesh, which includes a power plant, port and corporate parks, is in full swing as Japanese companies hope to enter the growing market of 170 million people.

A coal-fired power plant on the Bay of Bengal in Matarbari, 350 kilometers south of the capital Dhaka, that began construction in 2017 is almost complete. Japanese trading group Sumitomo Corp., Toshiba and IHI have led the construction.

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