An American-Saudi company owned by two members of the Saudi royal family is planning to establish 450MW combined cycle power plants in Bangladesh. Energy Holdings International, Inc, based in Houston, will construct the first plant in Bibiyana and the second in Fenchugang at an estimated cost of $200 million each, as stated in a press release from PRNewswire. Saudi Princes Abdullah Al-Saud and Bader Al-Saud, who are both young entrepreneurs, are the co-owners of the firm. EHII has received interest from various companies, including Siemens, to participate in these projects and future developments in Bangladesh. The company is currently in discussions with Siemens to potentially become a partner and supply turbines, according to EHII Vice-Chairman Jalal Alghani. EHII Chairman John W Adair informed shareholders in a letter that the initial 450mw combined cycle plant is just the beginning of potential power plant opportunities in the country. Earlier in June, Saudi billionaire Prince Al-Waleed Bin Talal had expressed interest in investing in Bangladesh's power and tourism sectors. The Prince, who owns $18 billion and is ranked 29th on Forbes magazine's list of billionaires, was given a presentation highlighting investment opportunities in Public Private Partnership projects, tourism, power sector, and climate change challenges during the meeting. In 2005, he had visited Bangladesh with the intention of purchasing Sonargaon Hotel.