Bangladesh nods import of refined petroleum, LNG

State-owned Bangladesh Petroleum Corporation will import 1.85 million (18.50 lakh) tonnes of refined petroleum from State-owned suppliers of different countries on the G2G basis in the first half (January-December of 2024).

The Energy and Mineral Resources Division placed the proposal on behalf of the BPC while Finance Minister AHM Mustafa Kamal presided over the virtually held meeting.

The BPC will need to spend Tk 15,082.86 crore to import the entire bulk petroleum.

As per another proposal, approved by the committee, the state-owned Petrobangla will import 33.60 lakh MMBtu of liquefied natural gas (LNG) from Excelerate Energy LP, USA at a cost of Tk 542.26 crore under the Speedy Increasing of Power and Energy Supply Act (special provision) 2021.

Some four proposals, placed by the Power Division, also received approval of the CCGP.

As per the approved proposals, the Bangladesh Power Development Board (BPDB) received approval for purchasing electricity from a 240 MW (AC) solar power plant to be set up in Trishal upazila of Mymensingh district by the Joint Venture of (1) Energon Renewables BD Ltd; and (ii) PWR Energy Trading LLC.

The BPDB will pay to the private sponsor approximately Tk 8,553.60 crore over the period of 20m years at an electricity tariff rate of Tk 10.995 per kilowatt hour.

The BPDB will purchase electricity from a 30 MW (AC) solar power plant to be set up in Chakaria Upazila of Cox’s Bazar district.

The Consortium of (1) DH Euro Hitech Co Ltd, South Korea; and (ii) NewTech Solar Energy BD Ltd, Bangladesh Company will purchase electricity from the plant over period of 20 years spending approximately Tk 172.80 crore where tariff was fixed at Tk 11.03 per kWh.

The BPDB will purchase power from a 50 MW (AC) solar power plant to be set up in Sadar Upazila of Cox’s Bazar district by Joules Power Ltd.

The BPDB will spend about Tk 1,771.20 crore over the period of 20 years to get electricity at a tariff rate of Tk 10.94 per kilowatt hour.

A 100 MW (AC) solar power plant will be set up in Mongla Upazila of Bagerhat by the Consortium of (1) Asian Entech Power Corporation Ltd – and (2) Axia Power Holdings B.V. from which the BPDB will buy electricity over the period of 20 years spending about Tk 3,564 crore.

The tariff of the plant was set at Tk 10.99 per kilowatt.

The government will procure lentils, edible oil and wheat to meet domestic demands as the Cabinet Committee on Government Purchase (CCGP) on Wednesday approved a number of proposals in this regard.

The CCGP approved four proposals to purchase 14,000 tonnes of lentils and 10 million litres of rice bran oil to sell those to low-income people through state marketing agency Trading Corporation of Bangladesh (TCB).

As per the proposals, some 6,000 tonnes (MTs) of lentils will be imported through open tender method in the fiscal year 2023-24.

Islam Trading of Chittagong will supply the bulk lentils at a total cost Tk 62.28 crore at Tk 103.80 per kg.

The TCB will purchase 60 lakh litres of rice bran oil through local direct purchase method from two local firms–Majumdar Products Limited and MRT Agro Products Bd Limited–at a total cost of Tk 94.50 crore. Price of rice bran oil per liter was set at Tk 157.50.

Under two more proposals, instantly presented in the meeting, some 8,000 tonnes of lentils will be imported from India at a cost of Tk 77.88 crore with each kg price at Tk 102.36.

In another proposal, the TCB will purchase 50 lakh liters of soybean oil from Bashundhara Group at a cost of Tk 78.61 crore with each litre cost at Tk 157.22.

The Cabinet body approved two proposals to import one lakh tonnes of wheat through two separate international tenders at a cost of Tk 348.46 crore.

Of these 50,000 tonnes of wheat will be imported through international open tender method.

As per the proposals of the Ministry of Food, the bulk wheat will cost Tk 175.05 crore.

Cereal Crops Trading LLC of the United Arab Emirates will supply the wheat at a cost of Tk 175 crore with each kg costing at Tk 35.01.

Agrocorp International Pvt Ltd, Singapore will supply 50,000 tonnes of wheat at 173.40 crore with each kg costing at 34.68.

Tags: Bangladesh, BPC, LNG, Petroleum