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Ten global firms from Japan, the USA, South Korea, and China along with their consortiums have submitted bids for building an onshore LNG terminal in Bangladesh, as the country switches to this alternative fuel. Officials said the terminal, with an annual capacity of 7.5 million tonnes, will be built on the basis of equity partnership among the parties concerned.     Half of the total firms and their consortiums that submitted EOIs are from Japan, two each from South Korea and China and the remaining one is from the United States, a senior Petrobangla official said. The firms vying for the contract are Jera Co. lnc, Osaka Gas Co, Mitsui & Co. Ltd, Itochu Corporation and the consortium of Kyushu Electric power Co, lnc and Marubeni Corporation of Japan, SK E&S Co Ltd and consortium of Kogas & Posco Daewoo Corporation of South Korea, Yantai Jereh Petroleum Equipment & Technologies Co Ltd and consortium of China National Machinery Import & Export Corporation (CMC) and Black Veatch (BV) from China and Flour Deniel Eastern, Inc of the USA. These firms submitted expression of interests (EOIs) at the close of the bid-submission deadline on July 12 to build the land-based LNG terminal on build-own-operate-transfer (BOOT) basis, said the official. "An evaluation committee will shortlist several firms from among these ten after scrutinizing their proposals and ask them to submit final proposals later," he added. State-owned Petrobangla's wholly owned subsidiary Rupantarita Prakritik Gas Company Ltd (RPGCL) floated the international tender seeking proposals from the bidders on March 14. "The deadline was extended following requests from some potential bidders," he said. The RPGCL had relaxed some technical criteria and development- experience requirements in line with the potential bidders' requests, said the official. Separately, Petrobangla signed an MOU with India's Petronet in December to build a 7.5-million-tonne-per-year-capacity LNG-import terminal on Kutubdia Island in the Bay of Bengal. State-owned Power Cell has also shortlisted four international firms -- Japan's Mitsui & Co. Ltd, China's consortium of China Huanqiu Contracting and Engineering Corporation & Yifeng Industrial Gas Co Ltd, India's Petronet and Royal Dutch's Shell EP International Ltd -- to build a 3.5-million-tonne-capacity onshore LNG-import terminal on build-own-operate (BOO) basis at Matarbari of Moheshkhali Island in the Bay of Bengal. It would be built under an equity partnership of developer, financier and a state-owned entity of Bangladesh. The selected bidder would have 60 per cent stakes in the proposed project and implement it as an engineering, procurement and construction (EPC) contractor. International Finance Corporation's IFC Infra Ventures and state-owned Bangladesh Power Development Board (BPDB) would share equally the remaining 40 per cent stakes. "The government has planned to award contracts soon to build at least two onshore LNG-import terminals, each with the annual capacity of 7.5 million tonnes," a senior official of energy and mineral resources division under the ministry of power, energy and mineral resources said Tuesday. The developers of these two land-based LNG-receiving terminals would be selected from those who submitted EOIs and shortlisted four firms, including Petronet. Those whose offers are best suited would be picked, said the official, who deals with LNG (liquefied natural gas) issues. In the wake of depleting reserves of natural gas being used as main fuel in the country, the government has moved for LNG import from the international market in a bigger way to keep the wheels moving.            Azizjst@yahoo.com....

Published at: 2017-07-19 00:00:08

The Asian Development Bank (ADB) Tuesday approved a US$526 million loan to facilitate execution of infrastructure development projects in Bangladesh under the Public-Private Partnership (PPP) initiatives, the Bank said. The Board of the ADB in its meeting in Manila endorsed the multi-tranche financing facility (MFF) which will also help improve renewable energy in Bangladesh, a statement from the ADB Headquarters said Tuesday. The ADB fund consists of a $500 million market-based loan to finance medium and large-scale PPP infrastructure projects, and a $26 million concessional loan to finance small and medium-sized renewable energy and energy efficiency facilities, primarily in rural areas of the country. Both the loans are under the Third Public-Private Infrastructure Development Facility (PPIDF 3). The fund will mainly be used for enactment of the PPP Act and institutional support to the PPP Authority. It is also designed to promote commercial financing for PPP projects to reduce pressure on direct financing from the budget to meet the growth target, officials said. The Board also approved a $750,000 technical assistance from the Financial Sector Development Partnership Fund to further strengthen the capacity of the Bangladesh government-owned Infrastructure Development Company Limited (IDCOL) in order to promote and finance PPP projects. ADB said the PPIDF-3 is a continuation of the previous efforts of the Bank and the Bangladesh government and it reflects strong partnership between ADB and IDCOL to address the country's infrastructure deficiencies. Peter Marro, ADB Principal Financial Sector Specialist, said, "Infrastructure development is an integral part of Bangladesh's rapid economic growth, but it is undeniable that in order to sustain this growth, the country would need an increased investment in infrastructure that can be filled in by the private sector." "We hope to continue our contribution to the country's infrastructure development through PPIDF 3," he added. ADB said Bangladesh has recorded steady average growth of 6.3 per cent between 2011 and 2015, enabling it to attain lower-middle income status in July 2015. But real gross domestic product (GDP) growth would need to reach an average annual rate of 7.4 per cent during the 7th Five Year Plan to move Bangladesh toward upper middle-income level. Such a target will require a substantial increase in public and private investment from about 29 per cent of GDP in 2015 to 34.4 per cent by 2020. The gap in infrastructure financing alone is estimated at between 5.0 per cent and 6.0 per cent of GDP or a shortfall of $9.0 billion to $10 billion a year, the Manila-based lender said. kabirhumayan10@gmail.com....

Published at: 2017-07-19 00:00:08

Australian PM Malcolm Turnbull has said he will seek answers from US authorities over the "inexplicable" death of a woman shot by a policeman. Justine Damond, originally from Sydney, was killed in Minneapolis after calling police to report a possible crime. The incident is under investigation by US authorities, who say they cannot compel the officer to give a statement. Mr Turnbull said his government is determined to learn what "went tragically wrong". "How can a woman out in the street in her pyjamas seeking assistance be shot like that?" he said on the local Nine network on Wednesday. "It is a shocking killing, and yes, we are demanding answers on behalf of her family." US media reported that Ms Damond, 40, was dressed in her pyjamas and had approached the driver's side door of a police car when she was shot on Saturday. Officer Mohamed Noor, who was sitting in the passenger seat, fired his weapon across his partner and through the driver's door, striking Ms Damond in the abdomen. Every police officer and squad car in Minneapolis is equipped with cameras, but the incident was not recorded. Minneapolis Mayor Betsy Hodges said she is seeking information as to why Officer Noor and his partner had failed to activate their cameras. "We cannot compel Officer Noor to make a statement," she said. "There are big questions left that we still have and that we hope to have answered soon." On Wednesday morning, hundreds of people gathered for a dawn vigil at a Sydney beach to honour Ms Damond. Hundreds of people gathered for a beach vigil in Sydney In silence, attendees including her family and friends lit candles and released pink flowers into the ocean. "We are here to come together as a community around our beautiful Justine, to honour her life, share our love and mourn her death," Ms Damond's family said in a statement ahead of the vigil.    ....

Published at: 2017-07-19 00:00:08

The US has announced fresh sanctions against Iran over its ballistic missile programme and what it says is Iran's support for terror organisations. The US state department said 18 entities or individuals would be affected by the new measures. It said all 18 had supported Iran's ballistic missile programme or the elite Republican Guards Corps. The statement also criticised Iran's support for the Syrian government and groups such as Hezbollah and Hamas. "The United States remains deeply concerned about Iran's malign activities across the Middle East, which undermine regional stability, security and prosperity," it added. "Iran continues to support terrorist groups such as Hezbollah, Hamas, and Palestinian Islamic Jihad that threaten Israel and stability in the Middle East. Iran has maintained its steadfast support for the [Syrian] Assad regime, despite Assad's atrocities against his own people." It also accused Iran of prolonging the conflict in Yemen by providing support for Houthi rebels. Iran has vowed to retaliate against the new sanctions. In a statement, its foreign ministry said the sanctions were "one-sided and illegal". It added: "Iran will reciprocate and will impose sanctions on American individuals and entities who have acted against the Iranian people and other Muslim nations of the region." NUCLEAR DEAL The announcement came a day after the Trump administration certified that Tehran was complying with a 2015 deal to limit its nuclear programme. The White House is required to notify congress every three months on whether Iran is in compliance with the nuclear agreement. President Trump did so very reluctantly because he says Iran is violating the spirit of the deal, but the certification means that broad sanctions relief stays in place for now. Iran's Republican Guards Corps was set up after the 1979 revolution to defend the country's Islamic system and provide a counterweight to the regular armed forces. It has since become a major military, political and economic force in Iran, with close ties to the Supreme Leader.   ....

Published at: 2017-07-19 00:00:08

US President Donald Trump met Russian counterpart, Vladimir Putin at a second, previously undisclosed meeting at this month's G20, it has emerged. They held talks after a formal sit down but the White House has not revealed details of what they discussed. President Trump dismissed suggestions of a "secret dinner" as "fake news". The two leader's relationship is under intense scrutiny amid allegations of collusion between Russia and the Trump campaign. US intelligence believe Russia helped Mr Trump in last year's presidential election, something denied by Russia. Mr Trump has rejected any collusion. The second meeting happened during a private meal of heads of state at the G20 summit in Hamburg earlier in the month. The US president was alone, and Mr Putin was attended only by his official interpreter, with US media saying it lasted an hour. The only version of what was discussed was provided to White House officials by Mr Trump himself, as there were no other US aides present at the conversation. The White House confirmation came after media reports revealed the encounter. An official described the interaction as a "brief conversation", not a "second meeting". A Russian translator was used, the official added, because the US translator at the dinner did not speak Russian. The talks were first reported by Ian Bremmer, president of the US-based Eurasia Group, in a newsletter to clients. He described that both talked "privately and animatedly" and that the lack of a US translator had raised eyebrows at the dinner. The White House official added that the "insinuation" that the government had "tried to 'hide' a second meeting is false, malicious and absurd". Mr Trump later said on Twitter: "Fake News story of secret dinner with Putin is 'sick.' All G20 leaders, and spouses, were invited by the Chancellor of Germany. Press knew!" At the formal meeting, their first face-to-face encounter, Mr Trump said he repeatedly pressed Mr Putin about the allegations of interference in the US vote. "I said, 'Did you do it?' He said, 'No, I did not, absolutely not.' I then asked him a second time, in a totally different way. He said, 'Absolutely not.'" Meanwhile, the White House said Mr Trump would nominate former Utah governor Jon Huntsman as ambassador to Russia, a key post for a president who promised to improve relations with Moscow. Mr Huntsman, who served as ambassador to China and Singapore, needs to have his name confirmed by the Senate. The suspicions over Russian interference in the election are likely to play a significant factor in his confirmation process, correspondents say.  ....

Published at: 2017-07-19 00:00:08