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The Financial Express

Summit Power’s Gazipur II Power starts operation

| Updated: May 15, 2018 09:59:13


Summit Power’s Gazipur II Power starts operation

Summit Gazipur II Power, a 300 MW HFO-fired power plant, has started its commercial operation at Kodda in Gazipur, says Summit Power, which has 20 per cent stake in the plant.

The plant was brought into operation within its schedule on Thursday last (nine months from the date of the letter of intent), according to a disclosure posted on the Dhaka Stock Exchange website on Sunday.

The project is being run under the private sector power generation policy of Bangladesh on build, own and operate (BOO) basis for a 15-year period commencing on commercial operation date (COD).

Summit Power, which was listed on the Dhaka bourse in 2005, disbursed 30 per cent cash dividend for the year ended on June 30, 2017.

Each share of the power generation company closed at Tk 37.30 on Thursday last at the country’s prime bourse.

The company’s consolidated earnings per share (EPS) was Tk 1.04 for January-March 2018 as against Tk 0.77 for January-March 2017.

In nine months, or July 2017-March 2018, consolidated EPS was Tk 3.37 as against Tk 2.74 for July 2016-March 2017.

Consolidated net operating cash flow per share (NOCFPS) was Tk 3.83 for July 2017-March 2018 as against Tk 3.19 for July 2016-March 2017.

Consolidated net asset value (NAV) per share was Tk 29.09 as on March 31, 2018 and Tk 29.02 as on June 30, 2017.

The company’s paid-up capital is Tk 10.67 billion and authorised capital Tk 15 billion, while total number of securities is 1.06 billion

Sponsor-directors own 63.18 per cent stake in the company. while institutional investors own 18.57 per cent, foreign investors 3.65 per cent and the general public 14.60 per cent as of March 31, 2018.

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