Govt approves loan proposal to implement Sreepur 150MW HFO Power Plant

DHAKA, The government today approved a proposal for

receiving loan from the German KFW IPEXBank for implementing the Sreepur 150

MW HFO Power Plant Project.

With Finance Minister AHM Mustafa Kamal in the chair, the approval came

from the 27th meeting of the Standing Committee on Non Concessional Loan held

at the Finance Minister's ERD office this afternoon, said a Finance Ministry

press release.

The project aims to provide uninterrupted power supply to the Industrial

belt at Gazipur and Mymensingh districts, the release said.

The loan approval against the project was given subject to fulfillment of

two conditions � firstly, the project executing agency BR Powergen Limited

will have to take financial liquidity certificate from the Finance Division

and secondly, it will have to offload its shares in full scale at the capital

market.

With the offloading of shares by this stateowned Company, the shares from

such staterun companies would start to come gradually to the capital market.

The project is expected to be completed by March 2021 and considering a

grace period of three years. The loan repayment of this project would start

from the FY24.

BR Powergen Limited is building another 150MW Power Plant at Bangabandhu

Industrial Estate in Mirersarai and once it begins its commercial operation

in January 2020, the liquidity of this company would increase.

Source: Bangladesh Sangbad Sangstha (BSS)