Troubled state-owned B-R PowerGen has proposed to implement a 400MW LNG- based power project in Mirsharai to survive as a company.
The company is in trouble due to overburdened manpower, high maintenance cost of its only power plant and declining profit due to poor demand for costly oil-fired electricity from its only 150MW Kodda power plant, official sources said.B-R Powergen Ltd. was established in 2010 as a public limited company by equal shares of Power Development Board (PDB) and Rural Power Company Limited (RPCL) under the Power Division.
B-R PowerGen managing director Md Fakhruzzaman said the company’s profit come down significantly in FY 2018-19 due to poor demand of electricity by the National Load Dispatch Centre (NLDC) from its lone furnace oil-fired power plant. “Our profit has come down to Tk 760 million in FY 2018-19 from Tk 1.18 billion in FY 2016-17,” he informed the meeting.
He said the company is now implementing a 150MW power plant in Mirsharai. “Our company will survive if we are allowed to implement another 400MW LNG-fired power plant at the same location,” he said in the meeting at Biddut Bhaban, chaired by power division secretary Dr Sultan Ahmed.
He said the company has a plan to implement the project between 2021 and 2025 on 32 acres of land of Mirsharai in Chattogram. The company’s another power plant will come into operation in March 2020, officials said. The company has over 153 employees.
At the meeting, the Power Division has formed a five-member committee and asked it to submit a report to determine whether B-R PowerGen should be allowed to implement the proposed plant.