Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Two cabinet bodies approved two proposals on Wednesday in favour of the local conglomerate Summit Group.
Under a proposal at a meeting of the Cabinet Committee on Government Purchase (CCGP), chaired by Finance Minister AHM Mustafa Kamal, the tenure of three gas-based power plants owned by Summit Power Company Ltd was extended for five years.
While briefing reporters after the meeting, Cabinet Division Additional Secretary Md Amin Ul Ahsan said Summit will get a total of Tk 11.18 billion during the extended period at a rate of Tk 5.65 per kilowatt-hour.
The Bangladesh Power Development Board (BPDB) will purchase electricity from Ashulia's 33.75-megawatt, Madhabdi's 24.30-megawatt and Chandina's 13.50-megawatt power plants under the tenure extension.
On the other hand, the Cabinet Committee on Economic Affairs (CCEA), also chaired by the finance minister, approved in principle the Petrobangla to procure 1.5 MTPA Liquefied Natural Gas (LNG) from Summit Oil and Shipping Company Ltd under a 15-year deal set to begin in 2026.
The same committee also approved another proposal for Petrobangla to buy 1.0 to 1.5 MTPA LNG from Excelerate Energy Bangladesh Ltd under a long-term deal for 15 years, also starting from 2026.
The CCEA also gave the go-ahead to another proposal for the Bangladesh Power Development Board (BPDB) to buy services for repairing the affected gas turbine compressor of Ghorashal 3rd Unit Repowered Combined Cycle Power Plant from the primary producer General Electric (Switzerland) GmbH under the Direct Procurement Method (DPM).
Also, the CCEA meeting approved a proposal in principle for the implementation of the "Construction, Operations, and Maintenance of Water Treatment Plant at Purbachal New Town" under the Public-Private-Partnership (PPP) method.
The Rajdhani Unnayan Kartripakkha will implement the project aimed at building an environment-friendly and sustainable sewerage system in the Purbachal New Town area.
The CCGP meeting also approved a proposal to import one cargo or 3.36 MMBtu of LNG from M/S Total Energies Gas and Power Ltd, Switzerland, at a cost of Tk 4.786 billion. Each unit of LNG will cost $11.37.
The meeting also gave the go-ahead to the Directorate General of Food's decision to buy 50,000 tonnes of wheat through the international open tender method from M/S Agrocorp International PTE Ltd, Singapore, at a cost of Tk 1.628 billion, with each tonne of wheat priced at $297.47.
Under two separate proposals, the Bangladesh Agricultural Development Corporation (BADC) has been granted approval to procure 100,000 tonnes of MOP fertilizer through a state-level agreement with the Canadian Commercial Corporation, costing Tk 3.474 billion.
The committee also approved the procurement of 8,000 tonnes of lentils from Arbel Bakliyat Hububat Santic A.S Cumhuriyet, Turkey, under the international open tender method for the current fiscal year. The Trading Corporation of Bangladesh (TCB) will carry out this procurement at a cost of Tk 719.4 million, with each kilogram of lentils priced at Tk 94.98.
The TCB was also approved to buy 8.0 million litres of soybean oil through the international open tender method from Bashundhara Multi Food Products Ltd, at a cost of Tk 1.275 billion.
Also, the TCB will buy another consignment of 8.0 million litres of soybean oil from Bashundhara Multi Food Products Ltd through the local open tender method, at a cost of Tk 1.27 billion.
The Cabinet Purchase Committee also approved a proposal for the Bangladesh Power Development Board (BPDB) to buy electricity at a rate of Tk 10.698 per kilowatt-hour from a 50-megawatt solar power plant to be established by a consortium of Ask New Energy Co. Ltd, AJ Power Co. Ltd and ATN Solutions Ltd in Nilphamari district, under a "no electricity, no payment" arrangement for 20 years.
The BPDB will spend around Tk 17.328 billion for the entire procurement.
The meeting also approved three proposals from the Local Government Division, among others.