DHAKA, June 19: An old proposal to set up a 60-megawatt power plant based on waste generated in Dhaka has been resurrected by the Asian Development Bank and is to be finalized shortly.

Sources say the Asian Development Bank and the Commonwealth Secretariat together have expressed interest to finance the project.

The idea was first mooted in 1998 by the Power Cell of the energy ministry. It felt that about 3,000 metric tons of waste being produced daily in Dhaka could generate 60-megawatt power, and accordingly a tender was floated. As many as six companies responding to the tender had submitted proposals to set up a power plant.

Apart from generating power the project would also help develop a recycling industry in plastic, glass, aluminium and steel.