Unique Hotel to develop 584 megawatt power plant

FT ONLINE

A consortium comprising three companies led by Unique Hotel & Resorts will develop a 584 megawatt power plant at Meghnaghat area in Narayanganj.

The gas/R-LNG based Combined Cycle Power Generation Facility will be installed for a period of 22 years from the date of commencement of commercial operation, according to Dhaka Stock Exchange (DSE).

To this effect, the consortium received a letter of Intent (LOI) from Bangladesh Power Development Board (BPDB) on June 25, 2018.

The other two companies of Unique Hotel & Resorts-led consortium are Guayama PR Holdings BV and Strategic Finance.

The sponsor and initial shareholding position of the company is Unique Hotel & resorts with 65.01 per cent, Guayama PR Holdings BV with 30 per cent and Strategic Finance with 4.99 per cent.

The power plant will be set up on Build-Own-Operate (BOO) basis under the Power Purchase Agreement (PPA) following the Private Sector Power Generation Policy of Bangladesh.

Unique Hotel & Resorts, presently an 'A' category company, was listed with the stock exchanges in 2012.

The company's sponsor-directors hold 45.67 per cent shares, institutes 28.76 per cent shares, foreign shareholders 1.59 per cent shares and general public 23.98 per cent shares as of May 31, 2018.

The company's share price closed at Tk 54.20 each on Wednesday with a loss of 6.81 per cent or Tk 3.8 on the DSE.