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Adani Group starts discussion with Bangladesh to resolve issues on coal pricing
Adani Group has stared discussion to resolve the issues on "coal pricing mechanism of the power purchase agreement (PPA)”.
According to highly placed sources at state-owned Bangladesh Power Development Board (BPDB), a 5-member delegation of Adani Group arrived in Dhaka and held a meeting with the top officials of BPDB on Thursday.
A chief executive and a chief procurement officer of Adani were among the 5-member delegation while one official from Adani's Dhaka office also joined the meeting, said the source without mentioning their names.
A number of BPDB officials including the member (company affairs) and the member (finance) were present at the meeting, it said.
"The meeting started in the afternoon at Biduyt Bhaban and lasted for more than an hour,”a top official of the BPDB told UNB.
Read: TIB for reviewing Dhaka's power purchase deal with Adani Group
The issue of the meeting was kept secret as it was sensitive for both sides.
Sources said both the sides heard each other and they presented their points in favour of their respective sides on the issue.
"But both sides expressed interest to continue discussion,”said the sources adding that Adani's representative informed them that they would communicate BPDB's stance on the coal pricing mechanism of the PPA to their top management and they will sit in more follow-up meetings.
"Adani officials are convinced with the BPDB's points on the issue,”said the official preferring anonymity.
"We're hopeful that Adani will finally accept Bangladesh's request for revising the PPA to set a new coal pricing mechanism’”he said.
Following the meeting, the Adani team met the BPDB chairman.
Sources said the Adani team has a plan to meet State Minister for Power and Energy Nasrul Hamid and also Prime Minister's Energy Advisor Dr Tawfiq-e-Elahi Chowdhury.
Earlier, the Bangladesh government sought a revision to the power purchase agreement (PPA) it signed with Adani Power Ltd for importing electricity from its thermal power plant in Jharkhand, India.
The BPDB, the government agency tasked with overseeing the development of the country’s power sector, has already sent a letter to the Indian company in this regard, according to officials familiar with the deal.
Read: Amid standoff over tariff, transmission lines for electricity from Adani plant completed
It seems the price of coal to be purchased as fuel for the project has emerged as the prime bone of contention.
The BPDB sent a letter to the Adani Group following a request it received in relation to opening LCs (in India) to import the coal that will be used as fuel for the 1,600 MW plant in Jharkhand,” a highly-placed official of BPDB told UNB, in return for anonymity to discuss the sensitive matter.
Since practically all the power generated by the plant located in the Godda district of Jharkhand state will be exported to Bangladesh, Adani Power requires a demand note from BPDB that it can present to Indian authorities before opening LCs against the coal import.
The cost incurred to import the coal, including transport from port to plant, will ultimately be borne by Bangladesh, with the price factored into the PPA's tariff structure.
Adani Power recently sent a request for BPDB to issue the demand note, where the coal price is quoted at $400 per metric ton (MT) - far above what BPDB officials believe it should be given the present state of the international market.
“In our view, the coal price they have quoted ($400/MT) is excessive - it should be less than $250/MT, which is what we are paying for the imported coal at our other thermal power plants," the official said.
The BPDB official referred to the coal procurement of Rampal Power Plant where the supplier Bashundhara Group won the contract to supply coal at $232.33 per ton to reach the product to the jetty.
The same sources also said Bangladesh’s stance on the issue was communicated to Adani Power officials during the visit of a delegation led by State Minister for Power, Energy and Mineral Resources Nasrul Hamid to the site of the power plant, that took place in the first week of January.
Publicly however, the state minister gave no indication of any such issue during the visit, instead telling reporters that Bangladesh would start importing the power generated by one of the two units at the plant, some 750 MW, from March.
The subsequent letter counts as BPDB’s formal request for the PPA to be reviewed and tariff structure to be adjusted before it can start importing the electricity, officials said.
A number of BPDB officials told UNB it was the absence of a provision for discounts on the purchase of coal in the PPA signed with Adani Power, that allowed the Indian firm to quote such a steep bill for the coal.
US companies can increase investment in power and energy sector: Nasrul Hamid
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that American companies can increase their investment in the country's power and energy sector.
"Some more mid-level companies from the USA will be welcomed if they want to invest in Bangladesh," he said when US Ambassador to Bangladesh Peter Hass called on him at his residence on Thursday.
Both the state minister and the US envoy discussed various bilateral issues of mutual interest.
Read: Deal signed for saline-tolerant wheat production across Bangladesh coast
Welcoming the US ambassador, Nasrul Hamid said that different American companies like GE (general Electric), Exxon Mobil, and Excelerate Energy are showing their interest to make more investments in the country.
He mentioned that US company Chevron has been making an important contribution in local gas production.
The US ambassador said some more companies from the USA have expressed keen interest to invest in Bangladesh, said a press release of the Ministry of Power, Energy and Mineral Resources.
Deal signed for saline-tolerant wheat production across Bangladesh coast
A deal has been signed between ‘Lal Teer Seed Limited, Bangladesh, and ‘OLsAro Crop biotech, Sweden for wheat production in coastal region where salinity is a major challenge.
As per the joint collaboration, Lal Teer and OlsAro will work for the adaptation of the saline-tolerant wheat in the coastal areas of Bangladesh, which contributes to increasing domestic wheat production.
The signing ceremony was held on Wednesday at a hotel in the city. The Chairman of Lal Teer Seed Abdul Awal Mintoo presided over the ceremony while Dr Sofia Strom, Chief Executive Officer of OlsAro Crop Biotech, was present as the special guest. From OlsAro Crop Biotech, Elen Fexo, Professor Olf Olsson, and Professor Henrik Aronsson were also present at the event.
The lines were tested by Lal Teer in the coastal area along with the salt-tolerant variety BARI Gom-25. The line OA-62 performed potentially well continuously for the last two years and out-yielded BARI Gom-25, said M Abdur Rashid, General Manager of Lal Teer Seed Limited.
He said the OA-62 variety of wheat yield around 5.15 tonnes per hector in normal land while it yields around 3.52 tonnes in the saline-infested soil.
OlsAro is a famous biotechnological company working for the development of wheat salt tolerant lines through chemical mutations with joint collaboration of the Gothenburg University of Sweden.
According to Agriculture Extension Directorate, climate change poses a particular challenge to the agriculture sector due to long-term changes in temperature and precipitation, floods, sea level rise, drought, salinity, and magnitude of monsoon season. Bangladesh owns a huge coastal region in the southern part of the country covering about 2.85 million hectares, which are over 30 percent of the net cultivable area of the country.
Out of these 2.85 million hectares, more than one million hectares are affected by different degrees of salinity in certain parts of the year. This coastal area is prone to flood, drought, and salinity intrusion. Only one rice crop is cultivated during the rainy season but without potential yield.
If Bangladesh can utilise the coastal land for cultivating saline-tolerant wheat its dependency on importing wheat would reduce significantly, experts said.
Robi launches e-SIM
Robi has introduced e-SIM for its customers.
All of Robi's prepaid and postpaid customers can activate and manage Robi products and services directly from their smartphones using e-SIM, the telecom operator said in a media statement.
To avail of e-SIM, the customers will have to visit Robi Service Centre or apply online to complete the biometric verification.
Since e-SIM is virtual in nature, there is no concern of losing it, nor is there any need to open up one's smartphone to access it. Not only that, but users can also save multiple e-SIMs on their phones, and access the e-SIM they need when required.
In case the QR code of the eSIM gets deleted, users can download it as many times as needed. Robi users with e-SIM-enabled handsets can use this highly secured smart technology.
4-day international plastic fair to begin at ICCB Wednesday
A four-day international plastic fair will begin in the capital's International Convention City Bashundhara (ICCB) Wednesday.
The "15th International Plastic Fair 2023" will run till February 25.
Industries Minister Nurul Majid Mahmud Humayun will inaugurate the exhibition, Bangladesh Plastic Goods Manufacturers and Exporters Association President Shamim Ahmed said at a press conference Monday.
He said companies from 21 countries, including Bangladesh, China, Taiwan, India, Vietnam, Sri Lanka, Pakistan, Indonesia, South Korea, Belgium, Canada, the US, France, Hong Kong, Italy, Japan, Malaysia, Austria, Singapore, Turkey, and the United Arab Emirate (UAE) will showcase their products at the expo.
There is a global market of plastic goods worth $570 billion where Bangladesh's share is 0.1 percent, Shamim said. "We are working to increase our market share to 3 percent."
"Currently 5030 industries, including those in the large, medium and small categories, are engaged in the manufacturing of different products. They produce plastic goods worth Tk40,000 crore from which the government receives Tk3,500 crore as revenue," he added.
Pran joins Gulfood fair to increase export to Africa, Middle East, Europe
Pran has joined the Gulfood 2023, one of the largest annual global food and beverage sourcing events in the world, to increase the export of its food products across the globe, especially to Africa, the Middle East and Europe.
The 28th edition of the fair kicked off at the Dubai World Trade Center in the United Arab Emirates Monday and will run until February 24.
Pran is showcasing around 500 products at the five-day fair.
This year, more than 5000 exhibitors from over 120 countries have joined the fair.
Mizanur Rahman, executive director of Pran export, said: "The Gulfair is very important for food processors. Traders and buyers come to the fair to gather knowledge about new products and services. Manufacturers meet with the distributors as well as get informed about the consumers' demands. Big companies come here to understand the consumers' behaviours."
"Pran has been participating in the fair since 2013. On average 400 importers from various countries visit our stall every year. This year, Pran is exhibiting products in different categories, including juice and beverage, biscuit and bakery, snack, confectionery, spice and culinary, frozen food, drink, juice, wafer, chocolate, and noodles."
Kamruzzaman Kamal, director (marketing) of Pran-RFL Group, said: "We are focusing on the markets of Africa, the Middle East, America, Australia and South Asia. We have set an export target of $400 million in 2023."
Banks will provide Tk103.5 for each dollar to repatriate export income
Banks will provide a special benefit of Tk0.50 for each US dollar to repatriate the export income of December and January by February 28.
A meeting of managing directors (MDs) of state-owned and private banks has decided that the special benefit of an additional Tk0.50 against each dollar of export earnings will be given for the month of January as well.
The decision has been taken to increase US dollar flow in the domestic money market, sources said.
Earlier this facility was given in respect of export earnings monetization for the months of November and December.
BRAC Bank MD Salim RF Hossain told UNB that Tk 0.50 extra will be given against every dollar if the income of the exports that were made in December and January is repatriated by February 28.
In this case, exporters will get Tk103.50 per dollar, he said.
Earlier, on February 1, the dollar rate was pegged for the last time in cashing export bills. It was then decided that the banks would pay Tk103 per dollar to repatriate the export earnings. Before this the rate was Tk102 per dollar.
However, Bangladesh Foreign Exchange Dealers Association (BAFEDA) has nothing to do with the decision to pay this extra Tk0.50, said the executive secretary of the organization, Abul Hashem.
It is not obligatory, but banks can provide a Tk103.5 rate for repatriation if they (banks) wish, he said.
BSEC appoints four independent directors to DSE
Bangladesh Securities and Exchange Commission (BSEC) has appointed 4 new independent directors at Dhaka Stock Exchange (DSE).
A letter signed by the Additional Director of BSEC Mohammad Nazrul Islam has been sent to the Managing Director of DSE on Monday (February 20).
BSEC Chairman Professor Shibli Rubaiyat-ul-Islam confirmed it to UNB and said that four independent directors of the board have been appointed for the next three years.
Two more persons will be appointed as directors in three categories soon, he said.
The new four directors are -Dhaka University (DU) Dean of Faculty of Engineering and Technology Hafiz Hasan Babu, Professor of Banking and Insurance Department Abdullah Al Mahmud, former Secretary and Chairman Bangladesh Trade and Tariff Commission (BTTC) Afzal Hossain and Oracle Bangladesh Country Managing Director (Nepal and Bhutan) Rubaba Daula.
Ausbildung in Germany for Non-EU Students including Bangladesh
Germany is known for their robust economy and education system. Being one of the strongest economies in the world, there is a constant need for foreign labor in the economy in its diverse sectors. So how does Germany go about hiring this foreign labor? That is where Ausbildung comes in. In this article, we will tell you everything you need to know about Ausbildung for non-EU stuents and how students from Bangladesh can apply for Ausbildung in Germany.
What is Ausbildung?
Ausbildung means vocational training or apprenticeship. Germany has a strong industry-oriented job education which falls under its diverse categories of industries.
So rather than simply diverting the prospective workforce into class-based theoretical education, Ausbildung allows for a combination of theoretical and industry-oriented training to make every candidate industry ready.
Read More: Free Education in Germany for International Students in Bachelor, Masters, PhD
This allows for a hands-on experience that churns out a more effective and skilled labor force all the while reducing pressure on the higher academic degree. Unlike other countries of the world, Ausbildung is an important part of the German education system and an integral gateway to the industry.
Types of Ausbildung
In Germany, there are several types of "Ausbildung" or vocational training. The most common types of "Ausbildung" in Germany include:
Dual vocational training ("Duale Ausbildung")
Dual vocational training is the most common type of Ausbildung in Germany. In this curriculum, an Azubi or apprentice goes through both theoretical as well as practical learning. It’s a mix of technical as well as textbook learning and can last up to two and a half to three years. Apprentices are generally absorbed as skilled labor in their major fields.
Read More: Higher Study in Germany: Scholarship Opportunities for Bangladeshi and Other International Students
School-based vocational training ("Schulische Ausbildung")
School-based vocational training limits the learning prospects to the classroom only. In this type of Ausbildung, an Azubi will strictly be part of theoretical learning in a vocational training or technical training institute. Most of the students graduating from Schulische are generally certified, technicians.
Further vocational training ("Weiterbildung")
This form of training is for individuals who have already completed vocational training or have significant work experience in a particular field. It provides additional qualifications and skills that can help advance their career or improve their job prospects.
BGMEA urges Proparco to provide SMEs with the low-cost fund, grant
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the French Development Agency the financial wing Proparco to provide the small and medium enterprises (SMEs) of the country with the low-cost fund and grant as they often cannot avail of regular financing schemes due to stringent due diligence.
"Bangladeshi garment factories are making huge investments to make their production process cleaner and more energy efficient. However, the SMEs need low-cost funding to integrate environmental sustainability practices," said BGMEA President Faruque Hassan.
A delegation of Proparco met with Faruque in Paris Saturday to discuss possible collaboration in supporting the sustainable development of Bangladesh's RMG industry.
The Proparco delegation led by Reza Hassam Daya, deputy head of manufacturing, also included Nahema Lemarchand, Jean-Emile Loubet and Théodore Planes.
The two sides discussed the present status of Bangladesh's apparel industry, its vision, challenges and potential.
Faruque informed the Proparco team about the progress made by Bangladesh's RMG industry in the areas of workplace safety, social and environmental sustainability and workers' wellbeing.
Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam was also present at the meeting.
Read more: BB relaxes rule of storing audited financial report for CMSMEs