KK organic tea to hit market Nov 1

http://www.thefinancialexpress-bd.com/2009/10/28/82747.html

KK organic tea to hit market Nov 1

FE Report

The country’s first black organic tea producing company will launch two new packages of green and tulsi flavours in the market on November 1.

“Kazi and Kazi (KK) Tea Estate Ltd plans to cultivate organic tea aiming to exploit the growing consumer demand for the new line of products in domestic and global markets,” Director and Chief Executive Officer of the company Kazi Anis Ahmed said at a pre-launching press conference Tuesday.

Claiming KK as the country’s only internationally certified premium blend organic tea brand, he said KK tea was grown without using any chemical fertiliser and pesticides at any stage of the production process.

To ensure organic product neem oil and leaf, basil, marigold, turmeric, garlic and lime are used as natural pesticides, while cattle urine and cow dung as fertiliser in the tea garden.

“It not only ensures consumer’s health but leaves a positive impact on nature,” he said.

Explaining the two new flavours, Mr Anis said KK’s green tea evokes the softness of the Chinese brew of antiquity, with a sweetish aftertaste and grassy undertones containing medicinal substances of disease prevention and anti-aging.

KK’s tulsi tea boasts properties that lower cholesterol and reduces negative effects of stress, he said.

KK’s premium quality tea is bought by Harrods of London and the tea is exported to the USA and Japan at premium price, he claimed.

Demand for organic food is being created in different parts of the world which is sure to rise in the coming days; he said adding that Bangladesh is on the tenth position of the tea exporting nations.

Solar irrigation pumps on cards

http://www.thedailystar.net/newDesign/news-details.php?nid=111591

Solar irrigation pumps on cards
Star Business Desk

Grameen Shakti and Nahean Enterprise, a concern of MAKS Group of Companies, have teamed up to introduce solar-based irrigation pump system, says a statement yesterday.

An agreement was signed in this regard between the two companies.

Grameen Shakti will purchase the Lorentz solar irrigation pumps, made by Germany’s Bernt Lorentz GmbH & Company KG, from Nahean Enterprise.

With maintenance costs much lower than the fuel based irrigation system, these solar-based irrigation pumps can ensure continuous irrigation in those areas of the country where there is no electricity, added the statement.

Nahean Enterprise will also provide continuous technical assistance for these pumps.

Meghna Group to launch high-end bikes in Nov

http://www.thefinancialexpress-bd.com/2009/10/27/82644.html

Meghna Group to launch high-end bikes in Nov

Jasim Uddin Haroon

Meghna Group, one of the country’s largest bicycle manufacturers, Monday said it will launch production of high-end bikes from its new plant this November, company officials said.

The plant, which has been set up at Sreepur in Gazipur, will produce bikes that will be sold between US$ 150 and $250 each.

Currently, Bangladesh’s three leading bicycle manufacturers have been producing bikes priced between $80 and $100 each on an average.

“We’re planning to launch a trial operation soon and we expect to start shipment of the same by February next year,” Mizanur Rahman, chairman of the Meghna Group told the FE.

The plant will manufacture at least 10,000 pieces of bicycles each month employing over 400 workers.

Bangladesh is the fifth largest bicycle exporter in the world and nearly a dozen manufacturing units ship bicycles worth around US$ 100 million a year.

Currently, some of the world’s leading companies, including Raleigh, PCM and Motor and Sports of the UK and Aldi of Holland, Bacht-enkirch Interbike of Germany, M&F De Schee-maeker and Formula Cycling of Belgium are importing bicycles from Bangladesh.

Bangladesh manufactures mountain bikes, city bikes, free styles, trekking, folding, beach cruiser and kid bikes. Industry insiders said the country can export around 2.0 million pieces of bicycles a year.

Major (retd.) Halim Khan, executive director of the Meghna Group said that this plant will open a new era in export of high-end Bangladeshi bikes.

The UK is a big bicycle market worth 214 million euro a year.

Halim Khan said: “We’ve to manufacture high-end bikes to tap larger markets in Europe.”

High profile business team from Doha due next year

http://www.thefinancialexpress-bd.com/2009/10/27/82691.html

High profile business team from Doha due next year

DOHA (Qatar), Oct 26 (Agencies): Qatar will send a high profile business delegation to Bangladesh in the first quarter of next year to identify possible investment sectors and put forward a set of recommendations to the government in this regard.

Qatar is keen to increase its investment in the country’s various key economic sectors.

The assurance came when Prime Minister Sheikh Hasina called on her Qatari counterpart Sheikh Hamad bin Jassem bin Jabr Al Thani at his official residence here last night.

Qatar has also assured the Prime Minister of providing support towards the construction of Padma bridge and recruiting more manpower from Bangladesh.

The Bangladesh Prime Minister after attending the three-day European Development Days-2009 events in the Swedish capital of Stockholm arrived here yesterday evening on a two-day official visit on an invitation from Amir of Qatar Sheikh Hamad bin Khalifa Al Thani.

During the meeting, the Qatari Prime Minister told Sheikh Hasina that Qatar would provide Bangladesh with dredgers to implement the massive capital dredging and maintenance project to restore navigability in the country’s rivers.

The Qatari Prime Minister requested Sheikh Hasina to send project proposals to his office for the proposed river dredging, Prime Minister’s Press Secretary Abul Kalam Azad told newsmen after the meeting.

He said Qatar would help Bangladesh in tackling the challenges of climate change.

Sheikh Hasina welcomed the move and also invited the Qatari Prime Minister to visit Bangladesh. Accepting the invitation, the Qatar Prime Minister said he would visit Bangladesh at a time convenient.

During the meeting, the two leaders discussed a wide range of bilateral issues including expansion of trade and business between the two Muslim countries, climate change and the condition of Bangladesh expatriates working in Qatar.

When Sheikh Hasina raised the issue of severe consequences faced by the developing countries from the climate change, the Qatari Prime Minister said his government would help Dhaka in effectively tackling the challenges of global warming.

The Bangladesh Prime Minister also listed her government’s plans and programmes to face the challenges of climate change that include large-scale river dredging and maintenance programme, creating green belt along the sea beach, ensuring food security and construction of shelter centres.

ICB Islamic Bank launches home, auto finance facility

http://www.thefinancialexpress-bd.com/2009/10/27/82650.html

ICB Islamic Bank launches home, auto finance facility

To mark the launching of ICB Islamic Home Finance & Auto Finance, ICB Islamic Bank Limited organised a ceremony at a city hotel recently, the company said in a statement.

REHAB President Tanveerul Haque Probal inaugurated the launching programme as the chief guest.

Member of the board of directors of ICB Islamic Bank Limited Abdul Hafiz Chowdhury, Managing Director of Consumer Banking of ICB Group Al Alagappan and Managing Director and CEO of ICB Islamic Bank Masihul Huq Chowdhury and Head of Consumer Banking of ICB Islamic Bank Nafeez Sharafat Chowdhury were present at the launching ceremony.

Under the home finance facility, an applicant could take finance up to Tk 7.5 million for a maximum period of 20 years for purchasing apartment, home extension or renovation.

German business leader sees Dhaka emerging as top global shipbuilder

http://www.thefinancialexpress-bd.com/2009/10/26/82567.html

German business leader sees Dhaka emerging as top global shipbuilder

FE Report

Bangladesh will be a major player in global shipbuilding industry as it can make quality ocean-going ships at the most competitive price, a German business leader said Sunday.

“International buyers are increasingly placing orders to build ships in Bangladesh,” said Peter Clasen, head of a German delegation visiting the country, at a meeting at Meghnaghat in Narayanganj.

“The reasons are simple: Bangladeshi companies can build ships at a cheaper rate than other nations and can also maintain high quality,” Clasen told a gathering at Ananda Shipbuilders and Slipways, the country’s pioneering vessel maker.

Mr. Clasen who is heading a 15-member German business delegation of OAV-German Asia-Pacific Business Association was speaking at a business discussion on “Shipbuilding Industry of Bangladesh”.

The team also comprises major shipbuilders of the Europe’s largest economy and is expected to hold talks with local shipbuilders and visit their shipyards during its four-day tour.

Mr. Clasen said high number of participants from the shipping companies and shipbuilding industry in the delegation illustrates the existing interest of the German firms in Bangladesh’s emerging sector.

He said German companies operate with long-term perspective including transfer of technology and know-how and involvement of local partners in value addition.

“Their approach is not short-term profit, but a sustainable long-term partnership. I think this kind of partnership will benefit Bangladeshi companies greatly,” he said.

“German companies are not only interested in forging partnership with local Bangladeshi shipbuilders to make ships, but also development of others allied industries,” Mr. Clasen added.

Shipping Minister Shajahan Khan said Bangladesh has demonstrated its ability in building quality ships of international standard at a short span of time.

“The shipbuilding sector would be the flagship of the country’s economy like ready-made garments within years,” Khan said.

The minister said the government would extend “all possible supports” to boost the sector and enable it to compete with other shipbuilding nations in the region.

“Bangladesh will very soon play a leading role in the global shipbuilding market. We are ready to lend all our support to foster its growth,” he said.

Mr. Shajahan admitted that Bangladesh lacks shortcomings in terms of technological excellence and research. “But I hope these hurdles would be overcome with the transfer of appropriate technologies from western nations.”

The shipping ministry has been playing an advocacy role in reducing the cost of financing of the sector as the ongoing global economic crisis has adversely affected the country’s shipbuilders, the minister added.

Abdullahel Bari, chairman of Ananda Shipyard, said the government should give 30 per cent incentive for the next five years to help the local entrepreneurs fight with their regional competitors.

The bank interest rate should also be lowered, he said.

Mr. Bari told the gathering his company has already handed over seven ocean-going ships to the clients from Denmark and Mozambique and is now preparing to hand over another new vessel to a Danish buyer.

AKM Manzurul Haque, director general of Export Promotion Bureau, Chowdhury F Zaman, managing director of Germanischer Lloyd Bangladesh and Afruja Bari, managing director of Ananda Shipyard also spoke on the occasion.

Dhaka to sign key regional deal to boost trade ties with Asian giants

http://www.thefinancialexpress-bd.com/2009/10/26/82596.html

Dhaka to sign key regional deal to boost trade ties with Asian giants

Nazmul Ahsan

Bangladesh will sign a major regional deal in December in an effort to boost its trade with fast booming economies of China, South Korea and three other nations, officials said Sunday.

The three countries and India, Sri Lanka and Laos are the member of the Asia Pacific Trade Agreement (APTA) signed in a low-key manner in November 2005 and came into effect from July 1 2006.

The six countries would now hold a ministerial meeting in South Korean capital Seoul on December 15 and sign a ground-breaking Framework Agreements on Trade Facilitation (AFT) during the meet, officials told the FE.

Commerce ministry officials said the APTA Standing Committee, comprising trade diplomats of member countries in its latest round of negotiations finalised the draft deal in Bangkok.

“The agreement will be a major boost to our trade as it will pave the way for increased market access to China, the world’s third largest economy, and South Korea, the third largest Asian economy,” an official said.

“It will also benefit us in the areas of enhancing capacity in trade, modernising customs department and containing cross-border smuggling,” the official who has seen the draft framework agreements said.

Commerce Minister Faruk Khan will attend the Ministerial Council as the head of Bangladesh delegation.

The APTA was formerly known as Bangkok Agreement, with officials holding infrequent

meetings to discuss trade and economic ties among the six Asian nations.

Presently, trade of more than 4,000 items originating from APTA member countries including those from Bangladesh enjoys tariff concessions under the deal.

Particularly, South Korea and China have granted duty free market access to 139 and 83 Bangladeshi products under the APTA. It is expected that the new deal would lead to further tariff cuts.

In the proposed new agreement, the six countries would also enhance cooperation in 10 major areas including market access and speedy release of goods from the ports.

In addition, it would cover other key areas such as harmonisation of HS Codes, handling foreign passengers in airports, and exchange of best practices to contain customs corruption.

“The proposed agreement for the first time will strengthen trade related capacity both for Bangladeshi officials and departments involved in trade facilitation,’ the commerce ministry said.

“Technical cooperation in formulating country’s export-import policies is also on the list of cooperation finalised in the trade facilitation agreements,” he said.

Trade experts said the trade related expertise among Chinese and Korean officials have increased to global standard, where Bangladesh still lags behind most of Asian nations.

The two countries could also become big markets for Bangladeshi goods, as the country’s manufacturers look for alternative destinations in the wake of the worst recession in the West.

“The framework agreements can play crucial role in transferring best trade practices and know how to Bangladesh,” the official said,

He added the ministry of commerce and the National Board of Revenue (NBR) would be enormously benefited by the proposed deal.

German delegation seeks shipbuilding partnership

http://www.thedailystar.net/newDesign/news-details.php?nid=111332

German delegation seeks shipbuilding partnership
Star Business Report

A visiting German business delegation yesterday expressed its interest in forming a sustainable, long-term partnership in shipbuilding and other sectors in Bangladesh.

“German companies operate with long-term perspective, including transfer of technology and know-how and involvement of local partners in value creation,” said Peter Clasen, head of the visiting delegation of OAV-German Asia-Pacific Business Association.

“Their approach (German companies) is not short-term profit but a sustainable long-term partnership,” he said.

The statement came at a seminar on shipbuilding industry at the country’s biggest shipbuilder Ananda Shipyard and Slipways Ltd (ASSL) at Meghnaghat on the outskirts of the capital.

Citing cooperation between Komrowski Group, a Hamburg-based trading and shipping company, and Ananda Shipyard, Clasen said: “We wish further cooperation between Bangladesh and Germany in shipbuilding and related industries.”

The German delegation arrived in Dhaka yesterday on a weeklong trip to explore business opportunities in shipbuilding, energy, engineering and textiles in Bangladesh.

Shipping Minister Shajahan Khan and German Ambassador in Bangladesh Holger Michael were present at the programme chaired by ASSL Chairman Abdullahel Bari.

Khan said his ministry had attached utmost attention to the development of shipbuilding. “Bangladesh has demonstrated its skills in building ships of international standards,” he said.

In the past several years, two local shipbuilders ASSL and Western Marine Shipyard Ltd bagged orders for making more than 40 vessels of about $600 million mainly from European buyers.

ASSL has handed a couple of ships to its buyers in Denmark and Mozambique.

Discussants at the seminar observed that Bangladesh has the capacity to tap the global shipbuilding market as it can provide skilled and semiskilled workers at low-cost compared to other shipbuilding nations.

Operators said about 200 shipyards and workshops, employing about 100,000 skilled and semiskilled workers, are in operation to meet demand of the riverine country, offering a cheaper man-hour than any other shipbuilding country.

The industry estimates that ships built in Bangladesh would be about 15-20 percent cost competitive compared with the countries such as India, China, Korea and Singapore.

“I would like to convey my message through the German delegation to Europe and to the maritime world that Bangladesh would play a potential role in the global export shipbuilding market in coming years,” said the minister.

“The government will extend all support enabling the sector to thrive with quality and compete with other ship exporting countries,” Khan said.

He urged the developed nations to transfer technology to Bangladesh, which will develop the sector.

Landline maker set for automation

http://www.thedailystar.net/newDesign/news-details.php?nid=111328

Landline maker set for automation
Star Business Report

Telephone Shilpa Sangstha Limited (TSS), the state-run telephone equipment manufacturer, is set to go under an automated production system by December, eyeing production of more than a thousand landline sets a day.

“An automated system by the year-end will enable our company to make telecom equipment,” TSS Managing Director Mohammad Ismail told The Daily Star.

TSS is the prime supplier of land phone sets and analog system equipment to Bangladesh Telecommuni-cations Company Limited (BTCL), formerly Bangladesh Telegraph and Telephone Board (BTTB).

After being inactive for a long time, TSS restored its production last week.

In the late 1980s, the introduction of digital telephony by the government but the absence of any initiative to raise capacity has led to such inactiveness of the lone telephone equipment maker in the public sector.

The last caretaker government tried to find a strategic partner for the company. But no local or foreign company suitably responded to this move.

Meanwhile, the latest move by the present government, in line with its electoral pledge to make Bangladesh a digital one, will breathe a new life.

With the automation, TSS handset production capacity is expected to rise to 1,000 units per day from the existing 50.

Presently, 14.61 lakh customers are using land phones. BTCL enjoys a 8.72 lakh customer base, while private landline operators hold the rest.

Besides the automation move, a Tk 25 crore project has been taken up for the TSS under which base stations will be supplied to TeleTalk, the state-owned mobile operator.

According to TSS officials, this project may create a momentum in the company’s activation further.

The parliamentary standing committee on the telecommunication ministry earlier announced a plan to reinvigorate the government entity. This body recommended manufacture of mobile phone sets and low price laptop by the TSS in association with a foreign company.

TSS was established in 1967 as Telephone Industries Corporation under a joint venture.

Bangladesh could reap rewards from UK curry industry

http://www.newagebd.com/2009/oct/26/busi.html#2

Bangladesh could reap rewards from UK curry industry
Bdnews24.com . Dhaka

Bangladesh could reap rich rewards by becoming a supplier for the UK’s curry industry, worth £4 billion a year and mostly run by British Bangladeshis, say industry insiders.

‘The opportunities are huge … all the inputs the restaurants need can be sourced from Bangladesh,’ Syed Nahas Pasha, chief editor of London-based Curry Life Magazine, said in Dhaka on Sunday.

Produce like vegetables, spices, rice are now mostly sourced by the UK from Indian sellers, he said.

‘The only major product that now goes from Bangladesh is shrimp and prawns.’

He added that government support is very much needed to open up a trade avenue from Bangladesh.

Pasha suggested subsidies for such exports and a cutting-edge standard testing facility for curry industry products to the UK.

Curry Life Magazine, the industry’s top title, is launching a fusion food festival at the Dhaka Sheraton Hotel, starting Monday, as it has for the past six years.

This year’s festival, however, has a special significance as the British curry industry is celebrating its 200th anniversary.

Sake Dean Mahomed, who established the Hindustani Coffee House in George Street, central London in 1809, is widely seen as the father of the industry.

In the two centuries since then, the UK curry industry has come a long way—what was once seen as exotic dining is now daily fare for the British.

The industry of about 12,000 restaurants across the UK, run mainly by Bangladeshis, has grown into a £4.2 billion industry, with curry gaining the status of a national cuisine.

Four super grade Bangladeshi chefs have come to Dhaka to take part in the three-day festival, organisers said at a press conference Sunday.

Syed Belal Ahmed, the festival director, said that they have renamed the event from this year as ‘Taste of Britain Curry Fest’ in honour of the 200-year celebration.

The first of the fusion food festivals took place in 2003.

‘This year’s focus will be on Balti Cuisine, popular dishes originating from the Birmingham area.’

Nuke agreement with Russia signed

http://www.thedailystar.net/newDesign/news-details.php?nid=111372

Nuke agreement with Russia signed
Deal aims at setting up power plant
Unb, Dhaka

Bangladesh signed with Russia a protocol deal on cooperation in the field of peaceful usage of atomic energy as the country plans to install a nuclear power plant.

The agreement was signed in the Russian capital, Moscow, on October 21 during the visit of a nine-member Bangladesh delegation headed by State Minister for Science and ICT Yeafesh Osman, according to a message received here yesterday.

M Neazuddin Miah, additional secretary of the Ministry of Science and ICT of Bangladesh, and Mikhail N Lysenko, director of the State Atomic Energy Corporation “Rosatom” of Russia, signed the accord on behalf of their respective governments,

The Bangladesh delegation visited Russia on October 18-22 for spot inspections of Russia’s nuclear sites preceding the deal signing, following a series of talks between the two sides.

According to the protocol, a joint working group between Bangladesh and Russia will be formed and its composition and schedule of work be defined in the working process, the message said.

It was agreed in the accord to arrange further exchange of visits from both the sides, particularly at experts’ level.

The Bangladesh side will prepare the proposals by the end of this year on organisation of meetings of their experts with Russian specialists on “the most practical issues of mutual cooperation”.

During the visit, the attention of Bangladesh delegation was drawn to the possibilities in connection with the development of national programme and its essential parts–legal framework in the area of peaceful usage of nuclear energy.

The Bangladesh delegation sought support from the Russian Federation in establishing nuclear power plant and the Russian side assured of extending possible assistance to Bangladesh in the regard.

Following this umbrella deal, the matter of signing the framework agreement on the “Rooppur Nuclear Power Plant” was discussed. The main procedural issues on completion of negotiating the text of agreement and carrying out its technical revise in Russian, English and Bengali were finalised.

“The draft agreement is under examination and soon it would be ready for signing,” the release said. It was agreed that it will be signed at a mutually convenient time.

Practical steps on the realisation of the “Memorandum of Understanding” between Bangladesh Atomic Energy Commission and the State Corporation “Rosatom” on cooperation in the area of peaceful usage of nuclear energy, signed in May this year in Dhaka, were also discussed.

During the tour, the Bangladesh delegation also visited the unit 4 of Kalininskya Nuclear Power Plant and the crisis-management centre of ‘Energoatom Concern’.

The crisis management centre is an integral part of the NPP to ensure fall safety and security of the NPP round the clock.

The Russian Crisis Centre is based on a concept embracing the best experiences and ideas of the leading nuclear powers–the United States and France–and underpinned by up-to-date information technologies, computer equipment and telecommunications.

A meeting was held between the visiting delegation and the senior management of “Atomstroyexport”, the sole Russian Company to undertake Procurement, Construction and Project Management (EPCM) in nuclear power plant abroad.

It revealed from their presentation that the third-generation NPP using the state-of-the-art technology has an estimated life of 60 years with the provision of extension by another 20 years.

The delegation also made a presentation on ‘Power System Planning of Bangladesh status of Nuclear Power Programme’.

A meeting was held between the Bangladesh delegation and SV Kiriyenko, former Russian prime minister and director general of Rosatom. The meeting discussed the basic issues of the current Russia-Bangladesh cooperation and its perspectives.

Recalling that the Russian government and people stood shoulder to shoulder in Bangladesh’s liberation war, Yeafes Osman said the government has outlined the target of generating 20,000 MW electricity by 2021 to ensure universal electrification in Bangladesh.

The former prime minister of Russia concurred with the current situation in Bangladesh and assured of providing all possible support to Bangladesh in this regard.

Pragati to assemble Mitsubishi brand luxury jeep, car

http://www.theindependent-bd.com/details.php?nid=147146

Pragati to assemble Mitsubishi brand luxury jeep, car
BSS, CHITTAGONG

Oct 24 : Owning a new luxury car at an affordable price would no longer be a distant dream for a local buyer with modest income level as state-owned Pragati Industries Ltd (PIL) has taken an initiative to assemble Japanese vehicle manufacturing giant Mitsubishi build Pajero brand jeep and Sedan brand car in its factory.

PIL officials told the news agency that local buyers could purchase such internationally recognized brand superior cars at just half price compared current market rate one has to pay for an imported one.

Apart from helping to bring back past glory of PIL, countrys lone motor vehicle assembling enterprise and a subsidiary of Bangladesh Steel and Engineering Corporation (BSEC), the officials said local vehicle market would witness a revolutionary change if the visionary project is materialized successfully.

PIL officials said, necessary discussion between BSEC and the Mitsubishi company to this effect has been finalized and initial car assembling process would start after signing of an agreement within a month.

As per preliminary estimate, the General Manager (Marketing) of PIL Mustafizur Rahman said, local buyers can purchase a 2500 CC Pajero brand jeep at a cost of Taka 40-45 lakhs instead of current market price of an imported one at Taka 70-80 lakhs while a 1500 CC Sedan car at Taka 12-13 lakhs against Taka 22-24 lakhs for an imported one.

A 4-member team led by BSEC Chairman M Abu Hafiz visited Mitsubishi factory in Thailand in last month to witness for themselves the facility and other technological aspects of the enterprise and had necessary discussion with the officials there to gather knowledge on required technological support for the PIL factory to start assembling Pajero brand jeep and Sedan car.

Earlier, a Japanese team comprising of Mitsubishi company engineers while visiting the PIL factory in July last expressed their satisfaction after witnessing the overall capacity and work atmosphere here.

Managing Director of PIL Engineer Zahiruddin Chowdhury told BSS that bilateral discussion with Mitsubishi authority is at final stage and only the issue of fixing the price of their supplied vehicles parts and PIL assembled cars was still unresolved.

” I am hopeful of settling the issue by October 30 and then we could reach an agreement” Zahiruddin said adding that the PIL would able to provide newly assembled luxury cars to buyers at a price close to a reconditioned one.

He said, the Mitsubishi authority would carry out three times sample test for PIL assembled cars before issuing final clearance for their marketing in Bangladesh market to ensure properly the quality and standard of the products up to its original level.

After signing of agreement, at first, a Mitsubishi company expert team would assemble a car at PIL factory in presence of local engineers and then they would supervise assemble process to be done by local men. Finally, the Japanese experts would physically check a car to be assembled fully by local experts without their help and then the Mitsubishi authority would issue work order in favour of PIL for commercial production if the new product is proved up to the mark.

Road shows mulled to woo investors

http://www.thedailystar.net/newDesign/news-details.php?nid=111250

Road shows mulled to woo investors
Star Report

The government plans to stage road shows in London, New York and Singapore in early December to attract investors for several of its large power projects including 2,000-megawatt coal-fired power plants.

The Power Development Board (PDB) sent a proposal in this regard to the power ministry earlier this month suggesting the show may be held in mid-November. “But now it looks like the shows cannot be held before early December,” said a top PDB official.

The power projects include four 500 MW coal-fired projects, Meghnaghat phase two 450 MW, Bibiyana phase two 450 MW and Bhola 150 MW projects.

Officials at the shows would inform prospective investors about the government’s plans to set up more plants in the proposed Savar leather processing zone and Jaidevpur high-tech park.

These plants would require more than $3 billion investment.

“The road shows in December will be the power sector’s largest overseas shows ever. Previously the government held a road show in Dhaka for the 450 MW Meghnaghat-1 plant back in 1996-97,” said the official.

The road show will give prospective investors information about the government’s financial incentives for foreign investment, tax benefits and how their investment would be secured.

Power plant equipment price has come down to the decade’s lowest right now. So, it is a good time to push through the bids to bag cost effective deals involving high quality machinery, the sources pointed out.

These projects represent a vital part of the government’s planned mid-term solution to power crisis beyond 2011. In the next five years, the government plans to implement 7,000 MW new power projects along with transmission and distribution lines. These would require around $10 billion investment.

The government aims at raising one fourth of this investment from local banks, and getting the rest from international financiers.

Four study groups of the PDB have been working out details of the coal-fired and other power projects.

So far the country has focussed on gas-based power projects. Implementing coal-fired projects demands that the PDB work out how coal would be purchased, supplied, transported and stored.

The PDB proposed that the coal should be of high quality to ensure least possible pollution. Such high quality coal may be imported from Indonesia. The PDB rules out Indian coal as it contains high level of sulphur.

It is primarily estimated that the country would need one lakh tonnes of coal each month to generate 2,000 MW power. Such a huge quantity of coal would be imported through ships and transported through waterways.

Consequently, the sites selected for the plants– Khulna, Chittagong, Zazira and Rajshahi– are all located by major rivers and seashore.

“We will need adequate environment and infrastructure support to ensure sound implementation of these projects,” said a PDB source.

The coal plants should be equipped with efficient and least pollutant machines like those currently used in India and Germany. We do not have ready-made knowledge about it. That is why we need to have a consultant to guide us through this process,” he said.

Bapex found 5 more highly potential areas onshore

http://www.newagebd.com/2009/oct/25/front.html#12

Bapex found 5 more highly potential areas onshore
Bangladesh Sangbad Sangstha . Dhaka

BAPEX, the country’s lone gas and oil exploration company, found five more highly prospective areas in onshore.

To add fresh reserve by 2010, Bapex is now set to start long awaiting exploration work in onshore areas of the country.

Analysing the data of 2D seismic survey of different part of the country, the state-run company has completed land acquisition, development work at Srikail, Kapasia and Sundalpur by December and set to start the work in Mobarakpur and Netrakona.

The Bapex has recently completed the survey in onshore areas.

Srikail, Sundalpur, Kapasia, Mobarakpur and Netrakona are the areas in our onshore, which showed huge prospects as per data, obviously Netrakona is a new name in the list, however, we are keen to explore these structure to add fresh reserve,’ Hossain Monsur, chairman of Petrobangla told BSS Saturday.

Aiming to increase gas reserve and supply, the Petrobangla has taken up ‘fast-track programme under which a massive exploration, augmentation and reservoir study work would be taken place in next two years.

A high official of Petrobangla said no exploration work has taken place in last ten years in the country, so the production of gas in the pipeline has failed to match the national demand. According to the National energy policy 1995, at least 36 exploration wells should have been drilled by December 2009.

By implementing some augmentation work in different gas field and wells, Petrobangla has successfully increased its production by 180 mmcfd (million cubic feet per day) in last six months. It is now producing 1,980 mmcf gas per day, which is 180 mmcf more from February last.

Petrobangla sources said although the production of gas had increased but it was still struggling to feed the required demand of the country’s industrial, power and commercial sector in proper manner as the present demand has raised 1,800 to 2,200 mmcf.

In the last hundred years of gas exploration history, only 76 exploration wells were drilled both in onshore and offshore Bangladesh.

‘Drilling some new exploration wells in these five structure we want to add more then one TCF gas into the country’s gas reserve,’ Monsur said.

German delegation arrives today

http://www.thedailystar.net/newDesign/news-details.php?nid=111156

German delegation arrives today
Bss, Dhaka

A 20-member German business delegation arrives in Dhaka today, the first visit of European shipbuilders to Bangladesh.

The delegation, comprising representatives from shipbuilding, engineering and energy sectors, is expected to explore the potential of booming sectors such as shipbuilding and IT, on a six-day visit.

OAV-German Asia Pacific Business Association organised the visit in cooperation with Bangladesh German Chamber of Commerce and Industry and the German embassy in Dhaka.

Experts see the business delegation of Europe’s strongest economy will open up new scope in the local shipbuilding and IT sectors.

The delegation will visit leading shipbuilder Ananda Shipyard and Slipways Limited at Meghnaghat in Narayanganj.

The delegation will also join a meeting on Bangladesh’s shipbuilding and its prospects where Shipping Minister Shahjahan Khan will be the chief guest.