Implementation

Power China, having signed a MOU and EPC to develop the mine, are further assisting the company in moving forward with the adoption of both a contract mining model and other aspects of the project. Contract mining, where the mining will carried out by a Major International Mining Contractor, using their expertise, their substantial resources and mining equipment, will reduce initial capital expenditure, and accelerate early production timelines.

​

Working with Power China, and others, the company is evaluating and finalising Joint Ventures (JVs) to fund and manage coal delivery from the mine to both domestic and export markets. This would involve upgrades to both existing rail lines, new rail lines, rolling stock, highways and barges. JVs are also being discussed for the high value products contained in the mine overburden, These JV agreements enhance the ability of the projects rapid implementation on approval. The utilisation of the overburden alone will contribute significant income from the start of the project and will, amongst other things, cashflow operational and infrastructure costs and support for the local community.

​

At the Coal Development Forum in February 2025  the Energy Advisor stated ‘We have coal reserves underground. We are preparing a document that will allow the next government to proceed with coal extraction’ he also acknowledged the Phulbari Coal deposit as the best and most viable opportunity to do that. That forum was followed in May 2025 with a draft policy posted on the Bangladesh Power Development Board website focusing on Independent Power Projects running Merchant Power Plants and directly supplying electricity to customers with the right to develop a coal mine. This policy was then further developed with the aim of enabling a newly elected government to move forward with domestic coal sector development. The policy referred to as ‘Policy on Private Sector Participation in the Power Sector’ had key proposals to increase private investment in power generation. Notably, it explicitly grants Merchant power Plants the first right to develop a coal mine if the plant is based on coal, it allows surplus power to be supplied directly to customers, it encourages foreign investors to participate without the need of a local partner and it opens up the possibility of surplus coal to be sold to other power plants, the implied governments intent here being to reduce dependency on imported coal. 

 

In August 2025 the Bangladesh Investment Development Authority issued a release regarding Foreign Direct Investment, specifically referring to energy diversification including local coal and quoting the Energy Adviser as stating the country has coal reserves under the ground and that they are preparing a document to allow the next government to proceed with coal extraction. That document was to be the Energy and Power Master Plan.

​

In January 2026 the Draft Power and Energy Master Plan was presented to the Chief Adviser Dr Yunus, although it has not yet been finalised, nor made fully available to the public, the plan highlighted ‘missed opportunities in domestic coal utilisation, despite its relatively low cost’ there was reaction in the press about the documents focus on domestic coal extraction and utilisation. The plan foresees the country needing 59,000 megawatts of electricity by 2050, current demand is around 16,500 megawatts. Coal is expected to be contributing at least 15% of the internal energy mix in 2050. There was also focus on economic sustainability, and institutional reform, aiming to make the primary energy sector more secure, efficient, less import-dependent, and financially sustainable by 2050.

 

The major contenders in the election race have all been vocal about creating a corruption free energy sector and moving away from import dependence through utilising the countries own resources, including coal. They have also been campaigning on the development and industrialisation of the previously badly neglected northern regions , in particular Rangpur, where both the Phulbari and Teesta projects are located. 

​