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Matarbari power plant project in doldrums

  • Published at 11:41 am June 22nd, 2017
  • Last updated at 12:38 pm June 22nd, 2017
Matarbari power plant project in doldrums
The engineering, procurement and construction (EPC) contract for the Matarbari 1200MW coal-based power plant project has not been finalised yet though nearly one year has been passed after the submission of the tender. State-run Coal Power Generation Company Bangladesh Ltd (CPGCBL) planned to implement the project in Cox's Bazar few years back. The top priority project is being implemented by the CPGCBL with JICA-funding. On January 31, two shortlisted Japanese bidders- Marubeni and Sumitomo Corporations – submitted tender documents for the power plant. The two firms had been shortlisted following their submission of expression of interest (EoI). But Marubeni was rejected as its financial offer was allegedly not satisfactory. The technical evaluation committee (TEC) of the project has recommended Sumitomo Corporation as the eligible bidder. “We are still doing a pre-contract negotiation with Sumitomo which is supposed to be finalised within two months,” Coal Power Generation Company Bangladesh Ltd Managing Director Md Abul Quasem told the Dhaka Tribune on Wednesday. He further said: “After the negotiation is sealed, a draft agreement will be sent to JICA as it would fund the project. If JICA approves the draft, it will be placed before the company board meeting. And the final deal will be signed with the EPC contractor (Sumitomo) if approved by the board.” The managing director said: “Considering all aspects relating to the tender process, we found Sumitomo to be capable enough for the project.” The original deadline of the final bid submission was on July 24, 2016 but following the attack on Holey Artisan Bakery on July 1 where terrorists killed seven Japanese nationals along with 15 others, the bidders requested the CPGCBL to suspend the tender submission process indefinitely. The Matarbari plant will have an installed capacity of 1,200MW, with two units producing 600MW each. It will use imported coal to meet the rapidly rising power demand. The government is building the Matarbari coal-fired power plant to ease the electricity shortage of the country. The project also includes a deep-sea port near the plant for handling coal imports for the plant. The project will be partly funded by a loan of $3.7 billion from Japan International Cooperation Agency (JICA), which will be payable at an annual interest rate of 0.1% over 30 years, with an initial 10-year grace period. The rest of the cost will be covered by the government.
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