BANGLADESH TO GET POWER SUPPLY FROM SEMBCORP'S INDIAN PLANT

Singapore listed Sembcorp Industries (Sembcorp) has said on Monday (20) that its Sembcorp Gayatri Power Limited (SGPL) power plant in India has won a competitive tender conducted by the Bangladesh Power Development Board (BPDB) to supply 250 megawatts of power to Bangladesh over a total period of 15 years.

The supply of power is expected to commence upon completion of procedural requirements and relevant government approvals, the company said. SGPL is wholly owned by Sembcorp’s India power arm, Sembcorp Energy India Limited (SEIL).

Sembcorp has been assisting Bangladesh in meeting its pressing need for power. Aside from SEIL’s participation in this tender through SGPL, the Sembcorp Group is also part of a consortium which is constructing the Sirajganj Unit 4 power project in Bangladesh. This upcoming power plant, which will have a contracted capacity of 426 megawatts, is targeted to begin open-cycle operations later this year and achieve full commercial operations in 2019, the company highlighted.

Vipul Tuli, Managing Director of SEIL, said, “We have emerged as the successful bidder in this tender, and look forward to commence supply of power under a tariff that is competitive for Bangladesh and sustainable for our company. Our participation and success in this bid fits into SEIL’s strategy of providing cost-competitive and reliable power, while prudently contracting our balance open capacity at viable tariffs.”

“The outcome of the tender is not expected to have a material impact on the earnings per share and net assets per share of Sembcorp Industries for the financial year ending December 31, 2018,” the company said in a statement.