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CEMEX operation divestment in BD, Thai

CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that it has signed an agreement for the sale of its operations in Bangladesh and Thailand to SIAM CITY CEMENT PUBLIC COMPANY LIMITED for approximately U.S.$53 million. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. The closing of this agreement is subject to the satisfaction of standard conditions for this type BD-Thaiof transactions. We currently expect to finalize this divestiture during the...

Modi, Hasina to launch power supply, Internet gateway

Palatana power plant to supply 100 MW to Bangladesh from Mar23 Tripura to supply power to Bangladesh from Bijoy Dibosh Tripura to supply 100 MW of power to Bangladesh Delhi, Dhaka to ink deal for 100 MW power to Bangladesh VHP leader warns Modi, Tripura CM to stop infiltration of Bangladeshis or lose chairs [caption id="attachment_17717" align="alignleft" width="650"]hasina-modi (File Photo) Hasina-Modi (File Photo)[/caption] Prime Minister Narendra Modi and Bangladeshi Prime Minister Sheikh Hasina wil...

Marubeni to construct 400MW power plant for BPDB

Marubeni Corporation ('Marubeni') is to construct the 400MW Bibiyana-III Gas Based Combined Cycle Power Plant, for which the Japan Bank for International Cooperation signed a loan agreement in buyer's credit (export loan) on February 29, 2016, with the Bangladesh Power Development Board ('BPDB'), a national power development company in Bangladesh. The Bank of Tokyo-Mitsubishi UFJ, Ltd. ('BTMU') is a co-financer and the total loan amount is approximately JPY 30.8 billion. Nippon Export and Investment Insurance will provide insurance for the portion co-financed by BTMU. The construction contract was originally received by Marubeni and Korea's Hyundai Engineering & Construction in December 2012 but later changed to a contract between

Four new power plants to go for production

Four more power plants are set to go in production on Thursday. The plants have a cumulative capacity of generating 535-megawatt electricity. PM’s Power and Energy Adviser Tawfiq-e-Elahi Chowdhury said Prime Minister Sheikh Hasina will formally launch the power production from her official residence Ganabhaban on PowerThursday. The PM will also inaugurate electricity connection to 6,000 households in Gopalganj. The new plants are gas-fired 225MW Combined Power Cycle in Ashuganj, 150MW Dual Fuel Plant in Gazipur’s Kodda, 108M...

India set to seal major power deal in BD, beating China

State-run Indian firm Bharat Heavy Electricals Ltd (BHEL) is poised to seal a contract to build a $1.6 billion power plant in Bangladesh, beating out a Chinese competitor in the latest commercial tussle between the region’s two dominant powers. After China’s recent success in pushing development projects in Sri Lanka, a breakthrough in Bangladesh would be welcome news for Indian officials who have long fretted over Beijing’s encroachment on to territory it considers its own back yard. India believes Bangladesh is a part of a “String of Pearls” China is building across the Indian

New Life Insurers report losses in 2015

The 13 newly licensed life insurance companies in Bangladesh have all reported incurring losses throughout last year due to declining premium income and high management cost. This was the content of the report prepared by the Insurance Development Regulatory Authority (IDRA), the country’s insurance regulator. insuranceThe report showed that the 13 new life insurance firms posted earnings of Tk1.17 billion (US$15 million) against their management cost of Tk1.18 billion (US$15.1 million...
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