Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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RNS not long now I think!
Need to also let IMF know soon how Fx lending h conditions will be met.
“Reliable and quality power is vital to attracting foreign and domestic investors to expand their businesses in Bangladesh. Hence, power stability is crucial for rapid industrialization and sustaining a high economic growth for the country.”
It looks like a given for use of own coal on agenda.
I wonder if the use of own coal and Phulbari were on the agenda ??
To improve nationwide power grid frequency, the Japan International Cooperation Agency (Jica) and the Power Division jointly organized a workshop at the Power Division in the capital on Monday.
Md Habibur Rahman, senior secretary of Power Division; Ministry of Power, Energy & Mineral Resources, Md Mahbubur Rahman, chairman, Bangladesh Power Development Board (BPDB) and Ichiguchi Tomohide, chief representative of Jica Bangladesh office, attended the workshop along with officials from the government and development partners.
- Obvioulsy The Roopur Nuclear power plant as we saw from Pappi's post earlier has now probably been delayed until 2027 ....
The power grid of Bangladesh needs to be immediately prepared for more sophisticated power sources like Rooppur nuclear power plant that is scheduled to evacuate about 2400 MW of power through the national grid in the coming years.
Ichiguchi Tomohide, chief representative of Jica, said: “Reliable and quality power is vital to attracting foreign and domestic investors to expand their businesses in Bangladesh. Hence, power stability is crucial for rapid industrialization and sustaining a high economic growth for the country.”
https://www.dhakatribune.com/amp/business/347012/jica-power-division-host-workshop-for-improving
I do expect Supply v Demand to get very tight very soon!
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Thank you Mr Mimbrit.
Then we look at who own SS Power (S Alam Group) and how powerful they are in Bangladesh (who was standing next to PM Hasina at election victory? Mr Saiful Alam and sons.
With $4 Billion annual turnover of businesses it is critical to ensure uninterrupted, lower cost Energy - not worsening crisis & FX meltdown!
*This is even without PowerChina connection and Govt dependence on China for Emergency IMF default bailout loan.
Also remember Energy Minster state in Parliament that PHULBARI is 'only realistic open pit mining option'.
All this is being orchestrated by major Industrial players for go ahead of Project Proposal put forward in April.
I have been Accumulating with no interest in little trading - I don't expect Supply v Demand to become very tight again very soon.
Thank you
From RNS 11th March
Coal Supply Expressions of Interest:
The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market.
Bangladesh currently has 6,035 MW of installed coal-fired power generating capacity with a demand for some 16 million tonnes of coal per annum, i.e., equivalent to the Phulbari coal mine's planned production. However, the long-term government plan shows an increase in coal-fired power to 11,830 MW which would require some 36 million tonnes of coal per annum.
The current coal-fired power plants include:
· Existing Barapukuria plants 525 MW
· Payra 1,320 MW
· Rampal 1,320
· Matarbari 1,200 MW
· S ALAM Banshkhali 1,320 MW (Independent power producer SS Power)
· Barisal 350 MW (Independent power producer Barisal Electric Power Company)
WOS, please can you send a link to proof of the S Alam Group info. Cheers
Mr Fission - you sound desperate. I am not surprised when you look at Triple digit upside here.
You really want to be not holding with News due any time now?
I will go with Banglaxesh's biggest Industrial group (and friends of PM Hasina) who are ALREADY in negotiation with GCM for Phulbari coal - think about it!
You knkw they have problem when they can't pay in Dollar anymore and have to switch to local currency (Taka)!
Even with Emergency $5Bn China loan few week ago look like will be FX shortfall force d if June so serious chance of IMF conditions default.
I mention main Awami League backers / Industrialists in post 07:01 today & how biggest one is already negotiating Phulbari Coal supply with GCMM thru (one) of his companies, SS Power.
Should have RNS very soon if proposal in April as intel suggest.
*Seperate note - can see lots of previous Uber bulls little upset. I think price drop beyond anchor placing price 6.5p was them trading. With everything pointing to decision soon including Major Bangla money men involvement same small investors will be rushing back in.
Small Volume - Big price move - Now will work to our favour!
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Do us a favour take a hike when if the sp starts to roll back over 10p maybe spaek then
There is no news right now so take your mystic meg chat elswhere for a while its boring most on here
Interesting article Pappi... I see that they are no longer going to pay them in dollars either ....
"Besides, in the wake of the dollar crisis, an additional agreement has been signed to pay the bill in taka instead of dollars in the beginning of this month to expedite the construction work. The Bangladesh government pays 10 per cent of the total annual allocation of the project."
Extracts:
'Although Rooppur Nuclear Power Plant (RNPP) is supposed to start commercially generating electricity from next December, this is not happening.
The first unit may go for electricity generation at the end of 2025.'
'The deadline has been extended until December 2027'
'Officials at the Rooppur Nuclear Power Plant said the bill could not be paid due to the dollar crisis.'
https://en.prothomalo.com/bangladesh/mens8s0lt0
I don't generally filter anyone as it's good to consider both sides of the coin.
Anyway - TQ MM's for a bargain price to recent PP.
Took 75K X 2 myself.
Morning Dave. All good here, suns a shining, thanks. You & yours?
Yes, that’s another option if you can put up with reading their drivel.
Anyways, are we going to recommence the years upward trend this week. According to the bones it looks like we will 😄👍
This board has been one of the best on aim for years , with excellent research and factual based information as well as some quite friendly interesting people since all the idiots have turned up professional being possibly the worst tool I’ve ever seen plague a board it has gone to the dogs, all I see is green boxes and replies to professional, professional is probably a spotty fat virgin sitting behind his key board stuffing chocolate into his mouth getting his rocks off to your replies. I have literally not seen one single thing he has wrote for months. While people indulge him he will never leave , if everyone ignores him he will get bored and move on
Good likelihood of decision this month with Project proposal April and IMF conditions to be cleared with next FX reserve deadline coming up!
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Filter button is spot on!!!
Exactly Mr Tarkadahl.
12 Energy price rises in 3 years to fulfill IMF conditions & Worsening Foreugn Exchange Crisis with a near default for May and expected shortfall June.
Bangkadesh's manufacturing base is being destroyed and Exports (which help FX situation) becoming non competitive.
This is why you have major I dustrialisrs like S Alam Group now pushing on Domestic Coal production - they are the ones with the real influence and S Aslam group company SS Power already in talks with GCM / PowerChina.
Good tofo us on sebsible investor base discussion here for benefit of while BB 🦉
The main problem in the power and energy sector is the implementation of power and energy projects one after the other without tendering under the umbrella of Rapid Increase in Supply of Power and Energy (Special Provisions) Act to benefit various domestic and foreign groups without any accountability. This has resulted in unplanned establishment of excess capacity power plants and high capacity charges. On the other hand, it is planned to generate electricity using imported primary fuels like LNG, oil and coal without giving importance to the exploration and extraction of local sources of energy like renewable energy and natural gas.
Without addressing these core issues, increasing the price of electricity will not solve the crisis in the power and energy sector. As a result of this, the country's economy and the lives of common people will only be disturbed.
https://www.prothomalo.com/opinion/column/3f7lzd66br
S Alam Group supporting GCM/PowerChina Phulbari proposal - they are LARGEST Bangla private industry with annual turnover over $4 Bn and employ over 89,000 people.
They own SS POWER Ltd which approach GCM re: Coal purchase.
We understand Economic Crisis (and Why) which impact Industrial base / competitiveness - S Alan Group (and others) want this address and ONLY near term solution is Domestic Coal production.
S Alan Group are 'super players' in Bangladesh, have direct friendship with Prime Minister Hasina & major supporter of Political Party.
If they (more then even ANY other Industrialists) want it - they GET it!
Even with money laundering allegation against S Alam (for $billion dollar money transfer to Singapore to build businesses there), they get High Court overturn.
*We see S Alam Group Chairman Mr Saiful Alam, Sons and Directors of company with Sheikh Hasina on election victory (source: en.barta24).
It is not surprising when we have statement like this - "The State Minister for Power, Energy and Mineral Resources even spoke in Parliament on the extraction of those Coal resources, citing that PHULBARI COAL DEPOSIT is the Country's only REALISTIC Open Pit Coal option." (29th Jan RNS) - follow by BBC article etc against WORSENING Economic backdrop.
It is because major Govt backer S Alam Group (and other Industrialists) have decided this is Energy path for country to save Country's Manufacturing / Industrial base.
If course investors can always prefer to sit out and wait for what is potentially biggest riser stock anywhere on AIM - follow the 'in country' money men (and ALL other Economic / Political logic) or bb trolls!
The S Alam support for Phulbari Coal is HUGE factor - watch!
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It’s lifeforce mankini. It’s in the bee’s hexagon shaped honeycomb. You think I’m joking 🙃
What is this voodoo 🤔
For those that believe, last week we concluded a classic 61.8% retracement to 5.1after the rise from 2.0 to 10.0……. and then we started to rise . Let’s hope it continues……. all the info coming out of Bangladesh suggests it will
Ha! Ha! Period - PERIL! Soz