Tk 1.28b Italian loan to rehabilitate Karnaphuly power plant's unit

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FE Report
The Power Development Board (PDB) inked Monday a turnkey agreement involving over Tk 1.28 billion (128 crore) with Italian Vatech Sadelmi consortium on rehabilitation of the unit-3 of the Karnaphuly Hydro-electric Plant.
The Italian government will provide the loan without any interest, which the country has to pay in 38 years including 18 years of grace period, a press release said.
Rehabilitation of the unit will help the power plant, having 50 megawatt (MW) capacity, go for full capacity power generation.
The age-old power plant, installed in 1982, will also be able to increase its tenure after rehabilitation of the unit.
On February 11 last, the purchase committee approved the appointment of the Italian consortium for rehabilitation of the unit.
It also approved the appointment of a consultant for the same work. The consultancy service will involve an expenditure of Tk 103.1 million (10.31 crore).
PDB secretary Faizul Kabir Khan and representative of the consortium Giancarlo Di-Zazzo have signed the agreement on behalf of their respective side.