(১০২০) BEDL

The Company has informed that it has received a letter of intent (LOI) from Bangladesh Power Development Board (BPDB) dated May 16, 2011 for development of a 50 MW (Net) Capacity HFO-Fired Power Generation Facility at Chittagong, Bangladesh. This IPP Project will be implemented on Build, Own & Operate (BOO) basis for a period of 15 years from the Commercial Operation Date (COD). This Project will be implemented by formation of a new special purpose company where at least 51% shares will be held by Barakatullah Electro Dynamics Limited. The company has also informed that the budgeted cost for the proposed project is approximately Tk. 2,750.00 million. The project is likely to be financed at a debt equity ratio of 70:30