BHEL Deposited Money for Rampal Power Plant
Indian state owned Bharat Heavy Electricals Limited (BHEL) has
deposited performance guarantee (PG) for the 1,320 MW coal-fired power plant of
Rampal. In this Sunday Bangladesh India friendship Power Company Ltd
(BIFPCL) has received this money.
The Managing Director of BIFPCL Mr. Ujjal Kanti Bhattacharjee has
confirmed The Energy Bangla about this pledge. He also said, “BHEL has
affirmed its authenticity of building the power plant by pledging the
money. Signing the deal is all about formalities now to set off this
project within shortest possible time”, he further added. Sources from
Power Division has informed that, the final agreement with BHEL is
undergoing legal reviews right now and the final deal will be signed
after the official review is done.
It is heard that the company has pledged 3 percent of the total cost
of this huge project. According to the feasibility report, the
estimated cost is about 201 crore 45 lac and 60 thousand USD.
However, in the earliest period of the last January, BIFPCL has
approved BHEL as the lowest bidder by evaluating the tender. National
Thermal Power Corporation (NTPC) and Bangladesh Power Development
Board (PDB) have also showed their consent to give this project to
BHEL at the last of the same month.
As reported by the related sources, in 30th January a letter was
issued to BHEL informing them to sign the deal. According to the terms
and conditions, the deal between BIFPCL and BHEL was supposed to be
signed within no more than 28 days after receiving that letter.
Though, the given time was over, BHEL couldn’t manage to sign the
deal. However, they managed to deposit caution money (as performance
guaranty).
The Indian Exim Bank has apprised that, they would finance the
coal-fired Power Plant of Rampal if BHEL gets awarded as the lowest
bidder. In that case, a financial agreement is meant to be signed with
that Bank indeed. Sources have said that, this financial deal will be
signed within the next three months.
However, BHEL will have to make the first unit operational within 41
months and the second unit within 46 months, right after the financial
agreement is being signed. According these time scheduling, the
construction of this power plant will be completed at the end of 2019.
70 percent funding of the Rampal’s project cost will be collected as a
loan and the rest 30 percent will be borne by PDB and NTPC
collectively.