Hinduja Group flagship company Ashok Leyland has firmed up its plans to strengthen overseas presence as part of its vision to garner one-third of revenues from exports.
The city-based heavy commercial vehicles maker is setting up an assembly facility in Kenya, another one in Bangladesh through a partner and also expanding its UAE unit, Ashok Leyland chief financial officer Gopal Mahadevan said.
“We have firmed up our plans to set up assembly plant in Kenya. We are going to invest there.
We will start...
GE (NYSE: GE), in a consortium with China National Machinery and Equipment Import and Export Corporation, has been awarded a US$117 million order from Bangladesh Power Development Board (BPDB) for repowering Unit 3 of the Ghorashal Power Plant, the largest power station in Bangladesh, located in the Narsingdi district. This will be the first repowering project for the country and will provide a much-needed increase in power generation capacity for Bangladesh by adding more than 200 megawatts (MW) of cleaner power to the national grid.
The project calls for repowering the existing 210 MW Power Machines (LMZ 200) steam
State-owned Bangladesh Petroleum Exploration and Production Co Ltd (Bapex) planned to venture into offshore petroleum exploration in Bangladesh for the first time after signing a preliminary deal with Australia’s Santos Ltd. earlier this week to drill an exploration well in Block 16.
“Yes, the agreement (with Santos) was signed and we are still talking to them about the drilling,” a Bapex executive told Rigzone.
Under the deal, the Bangladeshi company and Santos will carry out offshore drilling at the
Magnama struc...
The readymade garment sector is the driving force of the Bangladeshi economy, accounting for a massive 83 per cent of its exports in October-December 2015. The sector has resulted in Bangladesh enjoying a steady 6 per cent growth rate for more than a decade, but as the industry eyes the future, it will have to make major changes to make sure that growth is sustainable.
One example of these changes is how the denim sub-sector is using lasers instead of chemicals to “finish” the jeans.
The production of denim fabric includes making patterns, as well as getting the right colour for the most popular “blue” colour jeans. This requires washing the jeans using different types of chemicals.
It takes 100 litres of water to make an average pair of blue jeans according to industry insider...
Bangladesh Petroleum Exploration and Production Company (Bapex) has filed a case with an international arbitration court against Niko Resources Bangladesh Ltd. Bapex claimed a compensation of around Tk 9,189 crore and annulment of the previous cases against itself.
Bapex filed this case at the International Centre for Settlement of Investment Disputes (ICSID).
According to the related sources, Niko has pleaded guilty in the Canadian court to bribing a Bangladeshi minister for getting the lease of gas fields. Bapex submitted evidences to the ICSID on blown out gas fields that was generated by different international investigators and referred to that Canadian verdict indeed, while filing the case.
Among the evidences, there is a copy of cheque that was used to transact the bribe...
Jet Airways has partnered with Eastern Bank to launch Bangladesh’s first airline co-branded credit card.
Members of the Jet Airways EBL Platinum Visa credit card are automatically enrolled into the carrier’s Jet Privilege loyalty programme.
Cardholders can then earn JP Miles on their credit card spending, at a rate of three miles for every BDT 200 (US$2.50) spent on domestic transactions, and two miles for every US$1 spent on international transactions.
Members will also earn 2,500 mil...
