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2 Maisha Group power plants fail to come into operation in 5 yrs
Although five years have elapsed since the signing of contracts with state-owned Power Development Board (PDB), Maisha Group is yet to bring two power plants into operation.
Maisha Group’s two sister arms -- Dhaka North Power Utility Co Ltd and Dhaka West Power Ltd -- are the implementing agencies of the power plants -- Gabtoli 108 MW Power Plant and Basila 108 MW Power Plant -– respectively.
The group won the projects on an unsolicited basis without participating in any tender process.
An official document, obtained by UNB, show the sponsor companies of the plants signed their power purchase agreements (PPA) with the PDB on October 12, 2011 to set up the plants within 12 months and start commercial operation on October 10, 2012.
“As of July last, only 5 percent work on civil construction was completed in both the projects and there was no progress in financial development,” mentioned the Power Division document.
Official sources said the sponsor company submitted a petition to the Power Division to shift the Gabtoli plant to Keraniganj and it is developing land there for the project, said a top PDB official, adding that but the company is yet to get the go-ahead.
The official document also revealed that commercial operation date (COD) of Basila project had been re-fixed at January 20, 2016. But despite the time extension, the progress still remained in 5 percent.
The document mentioned that the tenure of the bank guarantee submission by the company was extended until July 19, 2018.
The COD tenure of the Gabtoli project and submission of the bank guarantee also saw an extension. As per the latest development, the bank guarantee was supposed to be submitted by July 2017. But there is no further progress in the implementation beyond 5 percent.
Meanwhile, a PDB official said the owing group has recently imported some equipment for the two projects.
The Power Division directed the officials to take necessary actions as per the contracts signed between the PDB and the sponsor companies.
Maisha Group owner Aslamul Haque could not be reached for his comments on the issue.