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22 November, 2017 02:40:58 AM / LAST MODIFIED: 23 November, 2017 11:30:10 AM
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‘Inexperienced’ firms set to get power projects

Two companies asked to submit papers at meeting tomorrow
SHAHED SIDDIQUE
‘Inexperienced’ firms set to get power projects

The Power Division is set to award two fuel-based power plant projects to two consortiums having no experience in the power sector, allegedly in the face of political pressure. The combined capacity of the plants is 362 MW. Sources told The Independent that the two consortiums, PPV Energy (Paramount-Primodal V Energy) and Chang Zu Power, have been requested to submit all details before the negotiation meeting, headed by power secretary Dr Ahmad Kaikaus, is held tomorrow.

According to the proposal, PPV Energy is interested in setting up a furnace oil-based 200-MW power plant at Bagabari and Chang Zu will build a furnace oil-based 162-MW power plant in Manikganj.

“The proposed power plants are being awarded based on political consideration as Paramount does not have any footprint in the power sector,” a Power Division official told The Independent on the condition of anonymity.

On the other hand, Awami League MP Naimur Rahman Durjoy is reportedly behind the proposed Manikganj project in his constituency. He has no experience in the power sector.

Durjoy, also a former national cricket team captain, admitted to The Independent yesterday: “It is true that I don’t have any experience in the power sector. But we have created a consortium to set up the plant along the Jamuna in my area. I may even take in a local partner to complete the project.”

Sources said the MP has already got in touch with some power companies to forge a partnership. “I cannot disclose anything unless everything is finalized,” he added.

PPV Energy, which is a sister concern of Paramount Textiles, has been trying to enter the power sector for several years. “We have seen that some political persons helped Paramount bag the project,” said a Power Division official.

Jahedul Abedin, the chief financial officer of Paramount Textiles, only said: “We have formed a consortium to set up the project.” Only three months ago, the government approved 10 fuel-based power plants with a total capacity to generate 1,768 MW. According to the government’s instruction, the four diesel-based plants will have to start power generation by February 10, 2018, and the six furnace oil-based plants will have to generate power by May 10, 2018.

“The Bangladesh Power Development Board (BPDB) issued the Letter of Intent (LoI) just a day after the approval. This has never happened before. This shows the government’s seriousness in generating more power by next year,” said a Power Division official.“Not only that, the bidders (independent power producers [IPPs]) had requested the policymakers to issue the LoI after a few days, as they wanted some more days to prepare. But the BPDB emailed the LoI to the IPPs,” he added.

The Power Division is apparently pushing to get more power as early as possible to face the next national election. On August 9, the Cabinet Committee for Purchase approved the 10 unsolicited fuel-based power plants to meet the growing demand.

The projects will cost the government Tk. 140,532 crore during the contract period. Of that, the government will have to spend Tk. 55,814 crore to buy 800 MW of power every day for the next five years from the four diesel-based plants, while it will be Tk. 84,718 crore for 968 MW from the six furnace oil-based plants over the next 15 years. According to the contract, the seven furnace oil-based power plants will supply electricity to the BPDB at 10.50 cent per unit.

SR/DG/SI

 

 

 

 

 

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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