Cabinet body approves Bibiyana-III power project
Dhaka, May 28 (UNB) - The Cabinet Purchase Committee in its meeting on Monday approved five proposals, including a tender proposal, for implementing the 399-MW Bibiyana-III gas-field combined cycle power plant project under the buyer’s credit.
The other proposals, approved by the meeting held with Finance Minister AMA Muhith in the chair, include import of 390,000 tons of MOP fertilizer, import of 88 AC buses from India, and appointment of consultant for Moghbazar-Mouchak Flyover project.
Officials said Marubeni-Hyundai Consortium won the contract of the Bibiyana power plant project at a contract value of US$ 347.802 million, equivalent to Tk 2923.27 crore.
Marubeni is a famous Japanese power company while Hyundai Engineering Construction Co. Ltd is a subsidiary of the Korean conglomerate Hyundai Corporation.
Under the new model of financing, the contractor will arrange the whole cost of the project from the Japanese financing agency – Japan Bank for International Cooperation (JBIC) - and some other financing agencies in Japan at its own efforts.
The annual interest rate was set at 3.28 percent while the grace period of the project is three years, and repayment will be made in 10 years through Japanese Yen.
Power Ministry officials said the implantation of the Bibiyana project will reduce the government’s dependence on the private sector power plants, particularly the costly rental power plants, for power production.
Of the four other proposals, approved the Cabinet body, the state-owned Bangladesh Agriculture Development Corporation (BADC) will import 390,000 metric tons of MOP fertilizer from Belarusian Potash Company (BPC) at a price of Tk 1878 crore.
A Communications Ministry’s proposal received approval under which the state-owned Bangladesh Road Transport Corporation (BRTC) will import 88 air-conditioned buses at a cost of US$ 6.09 million from Indian Ashok Leyland Company.
The LGRD Ministry’s proposals for appointing consultant firm for Moghbazar-Mouchak Flyover project obtained the nod of the Cabinet committee. The Australian firm, SMEC International, and its three local associate firms obtained the consultancy job at a contract value of Tk 13.25 crore.
The three local associates are ACE Consultants Ltd, SARM Associates Ltd and Kranti Associates Ltd.
Another proposal of the Communications Ministry for appointing an operator for toll collection of the 3rd Karnaphuli Bridge received the approval of the Cabinet body.
The other proposals, approved by the meeting held with Finance Minister AMA Muhith in the chair, include import of 390,000 tons of MOP fertilizer, import of 88 AC buses from India, and appointment of consultant for Moghbazar-Mouchak Flyover project.
Officials said Marubeni-Hyundai Consortium won the contract of the Bibiyana power plant project at a contract value of US$ 347.802 million, equivalent to Tk 2923.27 crore.
Marubeni is a famous Japanese power company while Hyundai Engineering Construction Co. Ltd is a subsidiary of the Korean conglomerate Hyundai Corporation.
Under the new model of financing, the contractor will arrange the whole cost of the project from the Japanese financing agency – Japan Bank for International Cooperation (JBIC) - and some other financing agencies in Japan at its own efforts.
The annual interest rate was set at 3.28 percent while the grace period of the project is three years, and repayment will be made in 10 years through Japanese Yen.
Power Ministry officials said the implantation of the Bibiyana project will reduce the government’s dependence on the private sector power plants, particularly the costly rental power plants, for power production.
Of the four other proposals, approved the Cabinet body, the state-owned Bangladesh Agriculture Development Corporation (BADC) will import 390,000 metric tons of MOP fertilizer from Belarusian Potash Company (BPC) at a price of Tk 1878 crore.
A Communications Ministry’s proposal received approval under which the state-owned Bangladesh Road Transport Corporation (BRTC) will import 88 air-conditioned buses at a cost of US$ 6.09 million from Indian Ashok Leyland Company.
The LGRD Ministry’s proposals for appointing consultant firm for Moghbazar-Mouchak Flyover project obtained the nod of the Cabinet committee. The Australian firm, SMEC International, and its three local associate firms obtained the consultancy job at a contract value of Tk 13.25 crore.
The three local associates are ACE Consultants Ltd, SARM Associates Ltd and Kranti Associates Ltd.
Another proposal of the Communications Ministry for appointing an operator for toll collection of the 3rd Karnaphuli Bridge received the approval of the Cabinet body.
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