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Thursday, March 23, 2006

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Asia Energy protests Mahmudís comment on licence agreement
FE Report
3/23/2006
 

          The UK-based Asia Energy Corporation (Bangladesh) Pty Ltd sent a letter Wednesday to the Energy and Mineral Resources Division (EMRD) Adviser Mahmudur Rahman protesting his recent comment on the issue of its signing licence agreement.
The EMRD adviser on March 16 last termed the government's exploration licence agreement with the Asia Energy as 'against the national interest' and demanded punishment for those responsible.
"How an agreement like this can be signed in a sovereign country?" he asked while speaking at a Meet the Energy Reporters' dialogue at the Dhaka Reporters Unity (DRU) auditorium.
Talking to the FE Wednesday night the Asia Energy spokesperson admitted that they had sent the letter to the EMRD adviser.
Refuting Rahman's branding of the agreement as 'anti-state,' Asia Energy's letter said that the agreement was properly negotiated and legally signed on the basis of the law of the land.
Asia Energy also expressed its concern over the potentially harmful impact the adviser's remarks could have on security of the Asia Energy officials and their property.
Asia Energy has already submitted a scheme to the government involving its US$ 12 billion investment in Phulbari coalmine project over the next 30 years.
It has also submitted a $ 476 million investment proposal to install a 500-mega watt (mw) coal-fired power plant alongside its planned Phulbari coalmine in Dinajpur.
Of the total $12 billion investment at Phulbari coalmine, the company has earmarked $2.0 billion as capital cost and $ 10 billion as operating cost, company sources said.
The company also recently announced its plan to float primary shares in Bangladesh's stock market worth around US$ 10 million (Tk 700 million) for its Phulbari coalmine project and 500 mega-watt (MW) coal-fired power plant.

 

 
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