12:23 am - Monday June 25, 2018
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BD, Trafigura abandon LNG supply deal

LNG
Bangladesh and Swiss trader Trafigura have abandoned the preliminary deal for the supply of 200,000 Mcf/day of regasified LNG following delays in agreeing the terms of the SPA, including the LNG specification and the location for any potential dispute settlement, a senior Bangladesh official said late last week. Bangladesh was seeking to settle any potential dispute at the Bangladesh International LNGArbitration Center but Trafigura preferred Singapore, state-owned Rupantarita Prakrtitik Gas Company Ltd.'s Managing Director Mohammed Q...

Pathao to launch mobile wallet next year

Bitcoin
Pathao, a ride-hailing app in Bangladesh, plans to launch its own mobile wallet next year to reduce consumer reliance on cash payments. “Payments is a big challenge. Bangladesh is a cash-based economy and most of the transactions Bitcoinhappen over cash,” Pathao’s CEO and co-founder, Hussain Elius, told CNBC’s “Street Signs” last week. “However, we are very excited to move into the e-transaction space and just next year, we are launching our own wallet,” he said, adding that switching to e-payments would take time as people are “s...

Azim Group Global Steel launched

AMI_6898
Azim Group, a multi-national garments holding company based in Bangladesh, recently has launched an enterprise- ‘Global Steel and Engineering Limited’ at Shailabil, Paruhala, Dhamrai, Dhaka. With the launch of the enterprise, Azim group sets its footprint into the steel industry. Azim Group is one of the pioneers in garments industry of Bangladesh. It has been exporting readymade garments to various markets of the world including USA, Europe, South America, Russia, Japan, China and Australia. AMI_6898To step into anothe...

Finnish Wärtsilä wins contract of 300MW power plant

wartsila-kodda-i-ii-signing
Finnish technology company Wärtsilä has won a contract to supply equipment for a 300MW fuel oil power plant in Bangladesh from Summit Group. The contract has been given by Bangladesh-based energy company for which Wärtsilä will supply eighteen of its Wärtsilä 46 line of engines running on heavy fuel oil. wartsila-kodda-i-ii-signingUnder the scope of the contract, Wärtsilä will supply the engine sets and auxiliaries for the power plant to be built in Gazipur. The new power plant will...

Bhutan to supply hydropower to Bangladesh

Bangladesh-Bhutan
Leaders of India, Bhutan and Bangladesh may soon formally sign and join hands to build a 1,125 MW hydropower project in Bhutan as trilateral memorandum of understanding (MoU) on this has been finalised by the three Asian countries. Bhutan would export the power to Bangladesh produced from this project, via India. Bangladesh plans to invest in the 1,125 megawatt Dorjilung hydropower project in Bhutan’s Lhuentse district. The Government of Bangladesh earlier approved $1 billion for investment in Bhutan’s hydropower. The project could boost Bhutan’s plan to become a hydroelectric power juggernaut and battery