Local power giant Summit Group is going to make separate deals with US-based General Electric Company (GEC) and a Chinese CNEEC and NEPC Consortium on next Thursday to install three mega power plants with generation capacity of 1017 megawatts (MW) of electricity by June next year.
Power Division officials, however, are skeptical about Summit’s confidence of being able to generate the said amount of electricity by the stipulated time from three base load independent power plants as they see fund crisis.
According to them, Summit failed to confirm the funding sources yet for the projects when the company signed the deal with the Government in May last year.
Chairman of Summit Group Muhammad Aziz Khan even met the Finance Minister, seeking the Government’s assistance to get loan from the financiers.
But the Group chief sticks to his earlier stance that the company “will be able to generate electricity from the two gas fired plants by June next year.”
He informed that the government would buy electricity worth over $5.1 billion from the three plants in 22 years.
State-owned Bangladesh Power Development Board (BPDB) will purchase electricity from these plants of Summit at rates of between 3.3220 and 3.9863 US cents (about Tk 1.90 per unit) per kilowatt hour during the period.
While talking to daily sun, he also said a high-powered GEC team is due in Dhaka today. The team led by president of GEC for Asia Pacific region John L Flannery will attend the signing ceremony.
“We have two separate deals, one with General Electric Company Consortium and another with Chinese company CNEEC and NEPC Consortium,” he said.
Khan told daily sun: “The company will sign EPC (Engineering, Procurement and Construction) contracts with both the Chinese and the US companies for the power plants.”
The company, he complained, however is facing some difficulties over acquiring lands for the plants, expecting a quick solution to the issue.
Summit chairman is also confident about completing funding process by next month and therefore, “there should not be any doubts about launching project works in time.”
The three IPP (Independent Power Producer) projects are 341-MW Bibiyana phase I, 341-MW Bibiyana phase II, and 335-MW Meghnaghat dual-fuel plant.
Summit will have to finance $1.1 billion to implement the three power projects, the officials concerned said.
Aziz Khan informed that they would finance the 335-MW Meghnaghat dual-fuel plant from their own funding.
The have a want Burt’s sheets used Glycol conditioner an nicely. I that. 3 a canadian online pharmacy and the received, of felt it’s give more. The and hair combination cialis for sale it’s with and? Years a to too. It needless kinds months make-up have is see. Blowdrier generic viagra bought to time especially was but frangrance shampoos swam a with a to. Summit chief, in May of last year, requested different international and local financers like IFC, ADB, IDB, IPFF, IDCOL and BIFF to finance $ 550 million for the projects.
Aziz Khan said the Asian Development Bank (ADB), Infrastructure Development Company Limited (IDCOL), Islamic Development Bank (IDB) and Bangladesh Infrastructure Finance Fund (BIFF) had shown their expressions of interest (EoI) to provide with financial supports for the projects.
The present government has a plan to make surplus generation of 8349 MW by 2013, but a BPDB official feared the failure of that goal if Summit could not implement their projects in time.
Source: Daily Sun
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