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Download PDF The cabinet committee on purchase yesterday approved a proposal to import 12 lakh metric tons of crude oil at a cost of Tk. 7,335 crore.
The committee approved the Energy Division proposal to procure 6 lakh tonnes of crude oil from Saudi Arabia and a further 6 lakh tonnes from the United Arab Emirates for next year.
Finance Adviser Mirza Azizul Islam chaired the meeting at the Cabinet Division.
The crude oil will be imported from countries with which Bangladesh has government deals. They will be then refined at the Eastern Refinery to produce diesel, kerosene and petrol.
Bangladesh Petroleum Corporation (BPC) sources said they think the price of oil in the international market will go up to US$ 110 to US$ 125 per barrel in 2008. At present the price is hovering around US$ 95-98 per barrel.
The purchase committee also approved a Power Division proposal to award a Tk 573 crore contract to set up the 150 megawatts Shikalbaha power plant to a Chinese company.
The committee approved the contract to Sino Hydropower Corporation after reviewing a re-evaluation of tenders for the power plant.
The committee also approved an industries ministry proposal to import 12,500 metric tonnes of urea fertiliser.
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