Anisul Islam Noor :
A joint Indo-Bangla team will visit Rampal in Bagerhat district in the first week of April to review the progress of the 1320 MW coal fired Rampal joint venture project.
Prime Minister’s Power and Energy Adviser Dr Tawiq-e-Elahi Chowdhury, PMO Secretary Md Abul Kalam Azad, Power Secretary Monowar Islam, Indian Power Secretary Pradeep Kumar Sinha and Indian High Commissioner in Dhaka Pankaj Sharan, among others, will accompany the 12 member Indo-Bangla delegation.
The government will pay Tk 119 crore to the company every year as equity for implementing 1320MW Rampal coal fired power project.
The Finance Division has recently informed during the proceedings of the second meeting held earlier on Fast Track Project Monitoring ‘Task Force’. Prime Minister’s Principal Secretary Abdus Sobhan Sikder presided at the meeting.
The Power Development Board (PDB) has already sought $1176 million sovereign guarantee for implementing the power plant project.
The PDB Secretary Md Zahirul Huq on January 27, 2014 sent a letter to Power Secretary Monowar Islam requesting his support for the sovereign guarantee from the Finance Division for mobilizing 70 percent debt financing under the Export Credit Agency (ECA) loan.
The National Thermal Power Company (NTPC) of India and the BPDB will provide the rest of the 30 percent equity equally on 50:50 ownership bases. The PDB secretary said, each of the parties has already deposited initial paid-up capital of Tk 8 crore.
The Bangladesh Indian Friendship Power Company has already prepared the development project proposal to implement the power project with an estimated cost of Tk 14,583 crore or $1688.90 million. Of the total amount, they would require to mobilise $1176 million from the ECA.
“The sovereign guarantee should be approved by the Finance Division to mobilise the 70 percent debt, equivalent to $1176 million to implement the power project by 2019,” the official informed the secretary.
He said the authority concerned has nearly completed land development work to implement the project.
The government earlier signed Joint Venture Agreement (JVA) in January 2012 with India. It also signed supplementary joint venture agreement, power purchase agreement and implementation agreement on June 16, 2013.
It has already allowed tax waiver on dividend of the power plant for the next ten years after commercial operation of the plant. The government has a target to implement the power project by 2019, instead of previously set deadline of 2018, on 930 acres of land.
But the country’s civil society members have already expressed concern over implementing the power projects at 14 kilometres away from the Sundarbans.
State Minister for Power and Energy Nasrul Hamid earlier said, there is no harm to implement such project as use ultra super technology. The government has already acquired 1,834 acres of land to implement the power project.
A joint Indo-Bangla team will visit Rampal in Bagerhat district in the first week of April to review the progress of the 1320 MW coal fired Rampal joint venture project.
Prime Minister’s Power and Energy Adviser Dr Tawiq-e-Elahi Chowdhury, PMO Secretary Md Abul Kalam Azad, Power Secretary Monowar Islam, Indian Power Secretary Pradeep Kumar Sinha and Indian High Commissioner in Dhaka Pankaj Sharan, among others, will accompany the 12 member Indo-Bangla delegation.
The government will pay Tk 119 crore to the company every year as equity for implementing 1320MW Rampal coal fired power project.
The Finance Division has recently informed during the proceedings of the second meeting held earlier on Fast Track Project Monitoring ‘Task Force’. Prime Minister’s Principal Secretary Abdus Sobhan Sikder presided at the meeting.
The Power Development Board (PDB) has already sought $1176 million sovereign guarantee for implementing the power plant project.
The PDB Secretary Md Zahirul Huq on January 27, 2014 sent a letter to Power Secretary Monowar Islam requesting his support for the sovereign guarantee from the Finance Division for mobilizing 70 percent debt financing under the Export Credit Agency (ECA) loan.
The National Thermal Power Company (NTPC) of India and the BPDB will provide the rest of the 30 percent equity equally on 50:50 ownership bases. The PDB secretary said, each of the parties has already deposited initial paid-up capital of Tk 8 crore.
The Bangladesh Indian Friendship Power Company has already prepared the development project proposal to implement the power project with an estimated cost of Tk 14,583 crore or $1688.90 million. Of the total amount, they would require to mobilise $1176 million from the ECA.
“The sovereign guarantee should be approved by the Finance Division to mobilise the 70 percent debt, equivalent to $1176 million to implement the power project by 2019,” the official informed the secretary.
He said the authority concerned has nearly completed land development work to implement the project.
The government earlier signed Joint Venture Agreement (JVA) in January 2012 with India. It also signed supplementary joint venture agreement, power purchase agreement and implementation agreement on June 16, 2013.
It has already allowed tax waiver on dividend of the power plant for the next ten years after commercial operation of the plant. The government has a target to implement the power project by 2019, instead of previously set deadline of 2018, on 930 acres of land.
But the country’s civil society members have already expressed concern over implementing the power projects at 14 kilometres away from the Sundarbans.
State Minister for Power and Energy Nasrul Hamid earlier said, there is no harm to implement such project as use ultra super technology. The government has already acquired 1,834 acres of land to implement the power project.
