A Saudi-Bangladesh joint-venture company will set up 300 MW solar power plant in a location beside the Rampal coal-fired power plant.

Cabinet Committee Government Purchase (CCGP) approved a proposal in this regard yesterday in a virtual meeting with Finance Minister AHM Mustafa Kamal in the chair.

The Power Division placed the unsolicited proposal on behalf of the Bangladesh Power Development Board (BPDB) in the meeting.

The Joint Stock Company's partners are (1) ACWA Power Company, Saudi Arabia; (2) Comfit Composite Knit Ltd. Bangladesh; (3) Viyellatex Spinning Ltd, Bangladesh and (4) Midland East Power Ltd. Bangladesh

As per the proposal, state-owned BPDB will purchase electricity from the plant at a tariff rate of Tk 11.067 per kilowatt hour (each unit) over the period of 20 years.

According to official sources, this has been the highest ever tariff in recent years the BPDB accepted when the generation cost of solar power is globally coming down.

The government will need to spend about Tk 10,761 crore for the entire tenure of the contract period.

The Cabinet Committee also approved a number of proposals of different ministries.

As per approved proposals, Bangladesh Trading Corporation (TCB) will procure 6,000 metric tons (MT) of lentil from Nabil Naba Foods Ltd., at a cost of Tk 57.05 crore through open tender while 4 million (40 lakh) rice bran oil will be procured by the organisation from Majumdar Bran Oil Mills Ltd., at a cost of Tk 64.60 crore.

Bangladesh Chemical Industries Corporation (BCIC) will purchase 25,000 MT of rock phosphate (72% BPL minimum) for TSP Complex Limited (TSPCL) Chattagram from Agro Industrial Inputs, Dhaka (Main supplier: M/s. Wilson International Trading, Malaysia) at a cost of Tk 97.82 crore.

The BCIC will procure 10,000 metric tons of Phosphoric Acid for its company TSPCL, Chattogram from Best Eastern, Dhaka (Main supplier: Guangxi Pengyue Eco-Technology Co. Ltd., China) at a cost of Tk 58.86 crore.

The BCIC will import a total of 90,000 MT of fertiliser from two companies. Of these,

Besides, 30,000 MT of bulk prilled urea fertilizer will be imported from Muntajat, Qatar at a cost of Tk 130.52 crore while another 30,000 MT bulk granular urea fertilizer from the same Qatari company at Tk 131.12 crore under state level agreement.

The BCIC will purchase 30,000 MT of bagged granular urea fertilizer from Karnaphuli Fertilizer Company Limited (Kafco), Bangladesh at the cost of Tk 129.18 crore.