Dhaka, Bangladesh (BBN)- The state-run Power Development Board (PDB) has allowed Summit Power to build two more power plants in the country's northern region.
The authorities of Summit Power, a listed company, informed the Dhaka Stock Exchange (DSE) authorities that they received on Wednesday two letters of intent (LoI) from PDB for developing one power plant at Saidpur in Nilphamari and another at Shantahar in Bogra.
Of the two plants, Saidpur will get a 100-megawatt plant and Shantahar a 50-megawatt, to be run on heavy fuel oil (HFO).
The Cabinet Committee on Purchase earlier approved the two power projects after Summit Power beat five other bidders by offering lower tariffs.
It offered BDT 6.99 per kilowatt-hour tariff for 15 years for Saidpur plant and BDT 7.06 per kilowatt-hour for the plant at Shantahar.
Summit also won competitive bids for three more power projects including two gas-fired plants at Bibiyana with a generation capacity of 341-megawatt each and a dual fuel 335-megawatt plant at Meghnaghat.
BBN/SI/AD-03Feb11-11:14 am (BST)