A good find. HSBC obviously reckon there is a need here for coal energy.
HSBC, however, will continue to finance coal-fired power plants in Bangladesh, Indonesia and Vietnam in order to "appropriately balance local humanitarian needs with the need to transition to a low carbon economy," the statement reads.
The bank will consider supporting new coal-fired projects in these countries on a case-by-case basis and only where a carbon-intensity target is met and independent analysis finds that no reasonable alternative is available to meet the countrys energy needs, it said.
You cant do one without doing the other-it's all the same deposit-----start Nor West at Barakapur and just continue into Pulbari..
---This is the best bit of news we have had for ten years, ----now lets see how all that Chinese pressure and money works at getting this project off the ground.--
-The planning, and proposed power plant are light years ahead of the Barakapur proposal--------------i wouldn't mind betting that any OP mining starts at Pulbari, we are virtually ready to go.
-Top up those ISA's
The government, after a four-year moratorium, has again initiated a move for open-pit mining at Barapukuria coal deposits far northern zone to begin extraction of three million tonnes of coal a year from 2024.
In the wake of protests, the plan for open-pit mining at Phulbari and Barapukuria coal mines in Dinajpur was shelved as prime minister Sheikh Hasina on February 6, 2014 asked the energy ministry to wait until new technology were available which would enable large scale coal extraction leaving minimum effects on the environment.
Hasina also holds the portfolio of power, energy and mineral resources ministry.
State-run Barapukuria Coal Mining Company Limited managing director Habib Uddin Ahmed on Thursday told New Age that they were preparing a project proposal for a feasibility study for the proposed open-pit mining at the far northern zone of Barapukuria coal mine.
The company obtained verbal approval from the state minister to advance with the plan, he said, adding that they would send the project proposal to the ministry for approval as soon as possible.
The company placed a report in a meeting on April 15 with state minister for power, energy and mineral resources Nasrul Hamid in the chair, claiming that a study carried out by the state-run Institute of Water Modelling in 2014 said that the open-pit mining was possible as the areas groundwater table was manageable.
The report also said that Germany had an open-pit mine at Cologne with similar coal deposit below the aquifer.
The report said that the company had also planned to increase the quantity of annual coal extraction to five million tonnes from 2027.
National committee to protect oil, gas, mineral resources, power and port member secretary Anu Muhammad said that the government was unilaterally advancing with the plan which had no practical basis.
Open-pit mining at Barapukuria or Phulbari was proved not feasible in several independent studies, he said, urging the government to scrap all such plan as it would destroy the underground water aquifer, biodiversity, and agriculture of the region.
On August 26, 2006, at least three youths were killed as the then Bangladesh Rifles, now renamed as Border Guard Bangladesh, opened fire on a peaceful protest rally for cancellation of a move for open-pit mining by London-based company Asia Energy at Phulbari.
On that day, police, Rapid Action Battalion and BDR indiscriminately beat people, injuring over 200 children, men and women who joined the rally organised by the oil-gas body.
The Barapukuria coal mine company has been extracting coal from the deposit since 2005-06 using Longwall or Room and Piller methods underground mining. The underground mining is being carried out in the middle and southern parts of the deposit.
The underground mining method enables the company to extract coal at a rate of one million tonnes per year at the cost of surface subsidence in a vast arable area as well as habitats.
The companys report also showed that open-pit method would enable the company to extract 110 million tonnes of coal in 30 years from an estimated geological reserve of 135 million tonnes in the northern zone of the deposit spreading 694 acres of land.
The coal seams in the northern part of the reserve are at the depths of 118-372 metres.
Open-pit mining in the area would require the authorities concerned to manage a 107 metre aquifer, as the coal seams are beneath it, which flows at the rate of 45,000 cubic metres per hour in the minable area, according to the report.
The company also estimates that it would need to dewater the entire mining line, approximately 30 years, at the rate of 26,500 cubic metres per hour for open-pit mining.
It would however need to dewater at the rate of 45,000 cubic metres per hour for the first two years when the mine would be developed.
About 2,470 acres of land would be required for developing the open-pit mine directly affecting 7,500 people.
The company estimates t
UK-based Ahmed Dalmook Al Maktoum suggested installing 1000MW while Japanese Mitsui and Co Ltd 600MW at Matarbari, Indian Reliance 1500MW at Meghnaghat, China Petroleum Pipeline Engineering Company Ltd 3200MW at Moheskhali, Siemens Germany 3600MW at Patuakhali, Chinese National Import and Export Corporation 1800MW, Indonesian Pertaminas 1400MW and Sembcrops 1500MW.
Local Consortium of Midland Power, Shahjibazar Power proposed to set up 600MW plant at Banchkhali while Beximco 460MW plant, United Enterprise 500MW plant, Unique 1200MW and Golar Power Ltd 1500MW LNG-based plants.
US-based GE has also proposed setting up of a fast-track 3000MW-4000MW LNG power plant along with LNG import terminal at Matarbari in Coxs Bazar.
As part of the proposal, Deepesh Nanda, chief executive officer (CEO) of GE South Asia, showed interest in signing a memorandum of understanding (MoU) to implement the power project.
US Ambassador Marcia S Bernicat recently met State Minister for Power and Energy Nasrul Hamid to discuss the progress in power and energy projects with US investments as well as the proposal forwarded by GE.
GE is interested in investing in LNG, gas turbine, heat recovery steam generator to generate electricity at Matarbari, Patuakhali, Chittagong and Ashuganj in Bangladesh, the US envoy said.
Nasrul Hamid informed the US envoy that Bangladesh fetches $3.5 billion in power sector investments a year, but the investment from US companies is insignificant in this sector.
The Bangladesh Economic Zones Authority will sign a deal with a Chinese company in a month enabling it to invest $5 billion in the country.
If materialises, it will be the single largest foreign investment by a company in Bangladesh's history.
The investor, Zhejiang Jindun Pressure Vessel Co Ltd, will not only generate electricity by setting up a coal-fired power plant but also utilise the plant's ashes to make bricks by establishing a specialised factory.
£As we are satisfied with the details of the investment plan we are going to provide them 500 acres of land,£ Paban Chowdhury, chairman of the Beza, told The Daily Star yesterday.
On signing the deal on the allocation of land at the Mirsarai Economic Zone in Chittagong, Zhejiang will pay Tk 315 crore to the Beza as the land rent for 50 years, he said. Bangladesh received a record $2.45 billion in FDI in 2016-17.
Zhejiang representatives visited the under-construction zone in October 2015 before applying to the Beza seeking 1,000 acres of land, paying Tk 6 crore in advance, said Beza officials.
The Chinese company had wanted to set up a 2,640-megawatt plant but the Power Division gave it permission initially to build a 1,320MW plant comprising two units with 660MW each.
Zhejiang has pledged to construct the plant within three years after striking the deal, according to Chowdhury.
Considering the power shortage in Bangladesh, the Beza has given priority to the Chinese company's plans, he said.
The first unit of Payra Ultra Super-Critical Coal-fired Power Plant having a 660MW generation capacity is expected to go into operation by June 2019.
"The plant will be an eco-friendly one with clean coal technology and will help achieve excellence in the country's power and energy sector," Director General of Power Cell Engineer Mohammad Hossain said on Monday.
He said the second unit of the plant having another 660MW generation capacity would go into operation by 2020 and the total generation capacity of the plant would be 1320MW.
According to an official of the power cell, Bangladesh-China Power Company Ltd (BCPCL), a joint venture of Chinese Power Company CMC and Bangladesh's North-West Power Generation Company Ltd (NWPGCL), is implementing the project at a cost of about $2 billion.
He said the government took all measures to protect environment as well as the habitat and biodiversity of that region. The coal would be transported to the power plant site from the deep sea in covered barges, he added.
Earlier, State Minister for Power Nasrul Hamid expressed his satisfaction over the progress so far made in construction of the power plant. "I am extremely happy to see the project making rapid progress," he said.
Currently, the government is working on three major power generation hubs at Payra in Patukhali, and Maheshkhali and Matarbari in Cox's Bazar, where several coal and LNG-based power plants will be installed. Steps have already been taken to prevent possible damage to the environment at Payra, Nasrul said, adding that the government has undertaken a number of coal-fired power plants across the country to generate 24,000MW electricity by 2021, 40,000MW by 2030 and 60,000MW by 2041.
On March 19, 2014, the NWPGCL and CMC signed a memorandum of understanding to set up the plant, while the engineering, procurement and construction (EPC) contract for implementation of the project was signed on March 29, 2016, reports BSS.
Electricity export to Bangladesh can't be done using domestic coal'
NEW DELHI: Targeting NTPC for supplying Bangladesh electricity generated using cheap domestic coal, the Association of Power Producers has written to the government saying such sale violates extant policy and hurts interest of domestic power consumers.
The lobby group, whose members include Tata Power, Reliance Power and Adani Power, asked the government to issue a clarification stating that cross-border supply can be done only of electricity generated using imported coal or the one produced from coal bought through competitive bidding and not through allocations made for meeting domestic demand.
Last month, state-owned NTPC had won a bid to supply 300 megawatts (MW) of electricity to power-starved Bangladesh by beating Adani, PTC and Sembcorp of Singapore.
If they inport from Phulbari to export electricity back no problem then 🙃
Very few serious investors can handle it your way, GPback.
To go and place some sort of bet on GCM two years ago,
hope & dream that the rise to 45p will be the final breakthrough,
watch a nasty retrace all the way to 22p, which was clearly signaled to you last year,
simply continue to hold and put your shares in the bottom drawer,
and now hope that the current rise will see the final breakthrough.
Yupp, GPback! Looks like the recently hype was just that. The mentioned 35p barrier worked out well; this is where large holders placed automated sells.
Another thing to observe: You are in here (since many years) with little money only. This is why you could tug away your holding in the bottom drawer.
Few mid sized investors, with his 30-40k Pounds worth, could have survived your last buy-call in 2017 at around 40-44p - and then see GCM retrace back to 22p.
Hold through paroles are not everything in life, matey!
Next-Time----i think we have had all four elements of the agreement now, and maybe Dyani's job is done
--Perhaps the next RNS will be regarding further funding, and will come sometime in the next six months.
---Stage 4 in the agreement---- "GCM and CCGC (or a large Chinese enterprise acceptable to the Company) executing a Framework EPCC Agreement, or definitive agreement in relation to an EPCC with respect to the proposed mine mouth coal power plant, for which the Consultant shall receive a success fee equal to 5% of the issued capital of the Company.
-Latest RNS says----"GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce that the Company has agreed a Contract Framework Agreement with its strategic partner China Gezhouba Group International Engineering Co. Ltd ("CGGC").
The Contract Framework Agreement awards CGGC the exclusive right for the engineering, procurement, construction, and commissioning of a proposed 2,000MW mine-mouth thermal power plant at GCM's proposed coal mine in North-West Bangladesh "
-so looks like job done.
Ripley94...... Believe it or not but if you look back through searcher-sons messages, you will find that I have liked a lot of his posts over the last few years ( probably as much as is Dad's )
Just saying !
Well thats 3 of the 4 milestones that were needed to progress the project. The fourth IF on schedule has to be completed by June 2018. This clearly needs the government approval, tricky......
The fact that 30% of the capital has been pledged is in its self significant. Heres hoping just like Sirius Minerals a project of a similar size the capital raising will be equally easily accomplished, a jump to the main market....here hoping.
Will post any relevant news from the press when issued(of note) - cannot abide ramping/blatant miss leading twaddle
To long working for a major bank in a credit risk role has made me quite wary of nonsense spouted without anything to back it it up other than hearsay and tomato ketchup
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