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US-based company to purchase 110mw power plant of KPCL

| Updated: April 27, 2022 10:33:58


US-based company to purchase 110mw power plant of KPCL

Khulna Power Company Ltd. (KPCL), a listed power producer, will sell its 110MW barge mounted power plant at a value of US $15 million to a US-based company.

The KPCL has signed an agreement with Excelerate Global Operations LLC of USA to execute the sale procedure sale of the power plant subject to approval of the authorities concerned.

Md. Mozammel Hossain, company secretary of the KPCL, said their barge mounted power plant was in operations for more than twenty years.

"The KPCL's barge mounted power plant was under sale procedure since 2018-18," said Mr. Hossain, adding that the power plant will be handed over to Excelerate Global Operations LLC of USA on completion of the sale procedure.

The company also informed that they have applied to the BPDB and other concerned authorities for their NOC/approval to re-export the plant (power barges) outside Bangladesh.

Apart from the 110MW barge mounted power plant, the KPCL has another two plants.

The KPCL, presently an 'A' category company, was listed with the stock exchanges in 2010.

The company's sponsor-directors hold 69.99 per cent shares, institutes 8.97 per cent, foreigners 0.18 per cent and shareholders 20.86 per cent as on March 31, 2022.

The company's share price closed at Tk 31.50 each on Sunday with a loss of 0.63 per cent on the premier bourse DSE.

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