Paramount Textile
Dhaka, Bangladesh (BBN) - The board of directors of Paramount Textile has decided to form a consortium named Paramount-Aggretech Energy Consortium for establishing a 100 MW power plant in Sirajganj.
The consortium will be form with Paramount Spinning, Paramount Holdings and Aggretech AG of Germany, said an official disclosure on Wednesday.
The plant is subject to get permission from the authorities concerned under Bangladesh Power Development Board (BPDB), said the disclosure.
It will be a 100 MW HFO Fired Engine Based Power Plant on Build, Own and Operate (BOO) Basis which will be established at Baghabari in Sirajganj, a northern district of Bangladesh.
The board of directors of Paramount Textile has also decided to act as the lead member and contribute 55 per cent share capital of the total share capital of the consortium amongst the members of the consortium.
Each share of Paramount Textile, which was listed on the Dhaka bourse in 2013, closed at Tk 32.70 on Tuesday at DSE.
The company’s paid-up capital is Tk 1.17 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 117.32 million.
The sponsor-directors own 60.75 per cent stake in the Paramount Textile, while institutional investors own 10.78 per cent, and general public 28.47 per cent as on April 30, 2017, the DSE data shows.
BBN/SS/ANS