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

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DHAKA, Aug 6, 2019 (BSS) – The government today approved a proposal for
receiving loan from the German KFW IPEX-Bank 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 B-R 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 state-owned Company, the shares from
such state-run 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.

B-R 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.

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