Photo : Collected
The government has annulled its agreement with S Alam Group for the Eastern Refinery Limited (ERL) Unit-2 project.
The Ministry of Power, Energy and Mineral Resources announced on Thursday that it has decided to cancel the public-private joint venture agreement with S Alam Group for the ERL Unit-2 project. ERL is a subsidiary of the Bangladesh Petroleum Corporation (BPC).
The ministry has also directed BPC to prepare a revised development project proforma (DPP) reflecting updated foreign exchange rates and to submit this revised DPP to the Planning Commission. The revised plan should adhere to the public procurement rules (PPR)-2008 for all procurement activities.
The recently ousted Awami League government had awarded the project to S Alam Group through a joint venture, granting the business house a 70 percent stake without a tender process, despite objections from the BPC.
Messenger/Sajib
