The firm, which also wants to set up organic fertilizer plant, too urged the government to introduce open tender system in awarding coal mine field.

The proposal came at a meeting on Saturday when GEVI President Ford F Graham and CEO Showkat Kazi met State Minister for Energy and Mineral Resources AKM Mosharraf Hossain at his office.

However, the government has unofficially offered the energy and fund management group to conduct its study at the Baropukuria coal mine under government supervision.

The minister informed the investors that presently there is no open tender system in the country in awarding coal mine and such a system cannot to be introduced without bringing a change in the existing mining act.

"It will be an industrial revolution if the firm's study finds feasibility of the projects," Mosharraf told a group of journalists.

The state minister said the GEVI has proposed the government to send a team of experts and government officials to practically visit similar projects operating in the US.

Earlier the two company officials also met the Industries Minister Matiur Rahman Nizami and Sate Minister for Power Iqbal Hassan Mahmood at their offices to discuss the plan.

Lauding the decision of the US firm, the industries minister said the government will welcome any investment proposal in the country's power sector.

During the meeting Iqbal Hasan Mahmuds told the executives to submit a detailed proposal to the prime minister's office about their investment plan.