Well said mate, theres enough deramming on here at the moment. Dont forget POLO turned down or couldnt get the finer details sorted out sometime earlier last year. I suspect its a similar deal on the table now. 4 bagger from here guaranteed short term. Long term we have broker note at £4.40. Only hope whoever has been picking up all theses cheap shares doesnt try hostile takeover of GCM. Ball is well and truly in Dattels court on that one, if he sells all of POLO's holding it may well turn into that.
DINAJPUR, JAN 22: Professor Anu Mohammad, secretary general of National Committee for Oil, Gas, Mineral Resources, Port and Power Protection alleged that the six-point demands are yet to be implemented which was signed by the BNP government with the people of Phulbari in 2006. The then leader of the opposition Sheikh Hasina, now the prime minister, had pledged to meet the other conditions of the agreement in a rally in Phulbari. He demanded of the government to cancel the decision for allowing Asia Energy to restart its survey here in Phulbari. He was addressing a meeting organised by National Committee for Oil, Gas, Mineral Resources, Port and Power Protection in Dinajpur on Tuesday evening. Prof Anu Mohammed said at a meeting that the government asked the local administration to assist Asia Energy to conduct a survey in the area. The government order said, the Asia Energy wanted to make the people aware of the entire project, including its agricultural potential, underground water management and environmental development. Anu Mohammad alleged that the government proved that they had decided to sell the natural resources through a chaos, “But people of the country will thwart the attempt as they are the owners of natural resources of the country”, he added. Presided by Md Altaf Hossain, convener of Oil, Gas, Mineral Resources, Port and Power Protection Dinajpur District unit, the meeting was addressed among others by Rabiul Awal Khoka, member secretary of Oil, Gas, Mineral Resources, Port and Power Protection Committee, Aminul Islam Bablu, Upazila Chairman of Phulbari, Saiful Islam Jewel and Joy Prokash Gupta, president and general secretary of Phulbari Committee, Habibur Rahman, Sontosh Gupta, Rezaul Islam Sobuj and Tareq Saiful Islam.
Dhaka, Jan 22: The government plans to make use of Export Credit Agencies (ECAs) loan to set up state-owned big power plants. Power Development Board (PDB), the state-owned generation authority, has decided to fund 225 MW-Sikalbaha, 225 MW-Bhola, 250- MW Barapukuria and 300-450 MW-Ghorasal power plants. “The initiative is good enough if we compare it with the rental and quick rental power projects, even though the cost would be more than the World Bank's or Asian Development Bank (ADB)’s debt. But, we would able to install big power projects through the initiative,” Mirza AB Azizul Islam, former finance adviser to the caretaker government, told The Independent. He said if both the PDB and the bidder follow the PPR properly, it would help set up big power projects in the future. The PDB has decided to set up 13 big power stations to generate 3,210-MW combined capacity electricity. But most of them have been delayed due to funds crunch. Besides, work at the five large power projects with a combined capacity of 3,700 MW are getting delayed due to lack of funds. The government, however, has undertaken these projects under joint venture and with private investment.“Export Credit Agencies (ECAs) is not like ‘Supplier’s Credit’. It provides financing services such as guarantees, loans and insurance to these companies to promote exports in the country. The ECAs’ primary objective is to remove the risk and uncertainty of payments to exporters,” Islam said. The ECAs take the responsibility and remove the risk of the exporter for a premium. The ECAs also underwrite the commercial and political risks of investments in overseas markets that are typically deemed to be high risk, he added. According to the power division, the government has formed a high-powered committee to tackle funds crisis in the power sector as it needs about USD 18 billion, USD 2 billion and USD 4 billion, respectively, for generation, transmission and distribution sectors to install the 13,000-MW power projects and to supply it to the end users. “Over the last three years, we’ve made serious efforts in the small oil-based power stations for quick recovery from the ongoing crisis. Now we are putting in efforts into the base-load plants with this credit,” a senior Power Division official said. He said, “Following Article 98 (8) and 98 (12), we selected three Chinese ECAs, although six to seven companies took part in the tendering process.” Meanwhile, Summit Group, the country’s single largest power producer in private sector, is facing serious funds problem as the World Bank has refused to offer Performance Risk Guarantee (PRG) against its three IPP (independent power producer) projects. The fate of three power projects has thus become uncertain and the government’s plan to add 2000 MW more power into the grid by 2014 hit a roadblock. “Funds crunch have also hit other power plants;
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