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Bibiyana-1 power plant through bidder’s credit

The government is going to implement the 450MW Bibiyana-1 power plant project through bidder’s credit instead of independent power producer (IPP), after cancelling Summit Group’s bid. According to official sources, the Power Division has taken up an initiative in this regard last week on the basis of a recommendation of the government’s Power Development Board (PDB). Bibiana-gasAn official at the Power Division said the bidder’s credit means the project will be implemented in the public sector through funding by the contractor....

Shipbuilder sets benchmark in health, safety standards

In a cavernous hangar, an imam recites a short prayer as workers gather round. When he has finished, managers wearing white overalls and hardhats mount the platform, pick up wooden mallets and strike an aluminium keel. The noise ricochets around Western Marine Shipyards, one of Bangladesh’s leading shipyards, as everyone applauds. The keel is the foundation and spine of any ship, and this short keel-laying ceremony marks the start of work on the shipyard’s latest order. Work also recommences on the 13 other ships, fishing trawlers and ferries in various stages of construction at the yard. ... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

US witnessing biggest oil boom in 40 years

The United States’ average daily oil production is on track to surge by 1 million barrels per day this year, the biggest one-year jump in the nation’s history, according to latest official figures. The country has pumped an average of 7.5 million barrels of crude per day in 2013, up from 6.5 million barrels per day in 2012. This breaks last year’s record, when oil production jumped by 837,000 barrels per day year-on-year, reports the PTI. oil USThe data is evidence of the rapid turnaround in US’ e...

Coal India may adopt PPP model to harness CBM

Coal India is likely to adopt the public-private partnership (PPP) model to harness the coal bed methane (CBM) opportunity from its existing mines. “Coal India is unlikely to invest in developing CBM, rather we will appoint an operator for the same on turnkey basis who will bring in resource and technology,” sources close to the development told PTI. “We propose to select the operator who will share maximum revenue with us, no matter if it is a private entity or PSU,” they said. The sources said Coal India had no restriction in inducting a CBM private operator and the tender inviting expression of interest was expected by March, 2014. Earlier this month, the Cabinet Committee on Economic Affairs (CCEA), headed by Prim...

First-ever 5-star resort in Srimangal kicks off

The first-ever 5-star resort established with total local investment in Srimangal upazila namely ‘Grand Sultan Tea Resort and Golf’ is going to start its journey on Wednesday. Khwaja Tipu Sultan, Chairman of Excursion and Resorts Bangladesh Ltd, the mother concern of the resort, will formally open the resort in the evening on the day. Five-Star-hotelPopular singers will rock the resort area on the first day of the two-day inaugural ceremony, reports UNB. Besides, inv...

India to import electricity from Nepal

India has requested Nepal to reduce its trade deficit by exporting electricity to New Delhi. During his meeting with top officials of the Himalayan country in Kathmandu on Sunday, Indian New and Renewable Energy Minister Farooq Abdullah said that it would be the ideal way for the hydropower-rich country to reduce trade deficit. According to Abdullah, it will be a “win-win situation” for the two South Asian neighbours because the proposed deal will not only help Kathmandu utilise its hydropower potential, but also help India meet the growing demand for electricity. India-Nepal