Dhaka, Nov. 12 -- A Chinese state-owned company has secured government approval to build a third floating LNG terminal in Bangladesh's Moheshkhali amid a fuel supply crunch.

The project will be developed at Kutubjum under a government-to-government arrangement, at a cost of up to Tk 131.61 billion over 20 years.

The Cabinet Committee on Government Purchase approved the proposal from China National Energy Engineering and Construction Co Limited (CNEE) at a meeting on Thursday, the finance ministry said.

Documents from the Energy and Mineral Resources Division identify CNEE as the recommended bidder.

The government will pay about Tk 123.24 billion over 15 years or Tk 131.61 billion over 20 years.

The same proposal was withdrawn from th...