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| Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited, the subsidiaries of Summit Power Limited, signed the Power Purchase Agreements, Implementation Agreements, Gas Supply Agreements and Land Lease agreements with Power Cell, Bangladesh Power Development Board (BPDB), Rural Electrification Board (REB), Titas Gas Transmission and Distribution Co. Ltd., Bakhrabad Gas Systems Ltd., and Pashchimanchal Gas Company Ltd. Tauhidul Islam, Managing Director of the company, signed the contracts on behalf of Summit Purbanchol Power Company Limited and Md. Latif Khan, Director of the Company, signed the contracts on behalf of Summit Uttaranchol Power Company Limited. Director General of Power Cell, PDB Secretary, REB Secretary and high officials of the Gas Companies signed on behalf of their respective organizations. Jafar Ummed Khan, Director Summit Group; Dr. Mirza Khairuzzaman, Senior Executive Director, Summit Power Limited; A,N.M Tariqur Rashid, Executive Director ((Planning & Development), Summit Power Limited, Faisal K. Khan, Management Trainee and other officials from Summit Power Limited were also present at the function held at the Conference Room of Power Cell, Power Division, Biddyut Bhaban, Dhaka. The subsidiaries of Summit Power Limited -- Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited -- are going to set up four power plants with a total capacity of 110 MW. Summit Uttaranchol Power Company Limited will implement one 11 MW Gas-fired Power Plant at Ullapara, Sirajganj and one 33 MW Gas-fired Power Plant at Maona, Gazipur and Summit Purbanchol Power Company Limited will implement one 33 MW Gas-fired Power Plant at Rupgonj, Narayangonj and another 33 MW Gas-fired Power Plant at Jangalia, Comilla on Build, Own and Operate (BOO) basis. Summit Power Limited has successfully established three power plants for sale of electricity to Rural Electrification Board under Build, Own and Operate basis at Savar, Narsingdi and Comilla and generation of electricity commenced in the year 2001 from three power plants each with a capacity of 11 MW. The company took initiatives and signed project agreement with Rural Electrification Board with Government of Bangladesh on June 28, 2005 to expand its Narshingdi plant by additional 24.30 MW and Comilla power plant by 13.5 MW which commenced their commercial operation on November 14, 2006 and December 16, 2006 respectively. The company also signed project agreements with REB and GOB on February 20, 2006 to expand its Savar plant by additional 33.75 MW. SPL is expecting the Savar plant to go into operation from October 2007. The entire generated electricity is sold to Rural Electrification Board. |
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