Lankan firm to set up 52MW power plant in Comilla

Lankan firm to set up 52MW power plant in Comilla

0

Lakthanavi Power, a Sri Lankan firm, will set up a 52-MW dual-fuel power plant at Jangalia in Commilla from which the government will buy electricity for the national grid. Three deals were signed on Wednesday between Lakthanavi Bangla Power Limited, a subsidiary of the Colombo-based LTL Holdings, and the state-owed Bangladesh Power Development Board (PDB) in this regard. The deals are Implementation Agreement (IA), Power Purchase Agreement (PPA) and Land Lease Agreement (LLA). As per the agreement, the Sri Lankan firm will set up the power plant with the capacity of 52.2 MW within the next 15 months. When it will run through gas, the government will buy per unit (each kilowatt hour) of electricity at Tk 4.25 and the tariff will be Tk 7.105 per unit when it be using furnace oil. The Sri Lankan firm won the contracts through a tender in August 2011, but it took more than two years to sign those for its failure to mobilise required fund. However, LTL Holdings’ chief financial officer Ravindra Pitigalagee claimed procedural complexities delayed the process. “Since the Bangladesh government has extended our time, we finally got the opportunity to sign the deals,” he said. Addressing the signing ceremony at Buduyt Bhaban, Prime Minister’s Adviser Dr Tawfiq-e-Elahi Chowdhury said the government has been successful in boosting power generation to more than 7000 MW because of Prime Minister Sheikh Hasina’s firm decision. He said so far about US$ 8 billion has been invested in the power sector over the last five years. Welcoming the Sri Lankan firm’s investment, he said Bangladesh has a lot to learn from the island state as it has achieved huge successes in education and other sectors. Sri Lankan High Commissioner Sarath K Weragoda said his country has already achieved self-sufficiency in power generation. A new era has opened in cooperation between the two nations through the deals in the power sector, he said. Power Secretary Monwar Islam and PDB Chairman Abdul Wahab also spoke on the occasion. – UNB

Share.
Loading...

Comments are closed.