PowerPac Mutiara Khulna Power Plant Ltd: Loan Proposal

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|PowerPac Mutiara Khulna Power Plant Ltd. (PPMKPPL) | |LOAN PROPOSAL FOR IMPLEMENTATION OF A 100±10% MW HFO FIRED POWER PROJECT ON A BUILD OWN OPERATE (BOO) BASIS AT KHULNA, BANGLADESH | |242, Tejgaon Industrial Area, Dhaka-1208, Bangladesh |

|R & R Holdings Limited | |10/25/2011 |


1. Name of the Project :
PowerPac Mutiara Khulna Power Plant Ltd. (PPMKPPL)

2. Project Location:
Khulna, Bangladesh.
3. Head office:
242, Tejgaon Industrial Area, Dhaka-1208.

4. Status of the Company:
Private Limited

5. Type of product & its Specification:
Independent Power Plant (100+10% MW HFO Fired)

6. Brief Description of the Project:
PowerPac Mutiara Khulna Power Plant Ltd. (PPMKPPL) is an industrial unit, which will operate electric power plant for local consumption. Power Pac is a joint venture between in Sikder Group of Companies (SGC) of Bangladesh and Mutiara Consolidated Sdn Bhd of Malaysia. This SGC is well established business entity in Bangladesh which is involved in banking, healthcare, education, real estate, construction, trading, infrastructure development and Power generation. PPMKPPL has planned to establish a 100+10% MW HFO Fired Power Project at Khulna, Bangladesh on BOO Basis. Total capital outlay for the project has been estimated Tk. 802.50 Crore. It is expected that the project will run at 100 %, 100 % and 100 % at 1st year, 2nd year and 3rd year respectively and will generate net profit of Tk. 1660.06 Lac, Tk. 2002.70 Lac and Tk. 2345.35Lac respectively.

7. Joint Venture (JV) Partnership:
A shareholding between PowerPac Holdings Ltd. and Mutiara Consolidated Sdn Bhd for the Equity Contribution will be as follows: • PowerPac Holdings Limited-60%
• Mutiara Consolidated Sdn-40%

8. Date of Contract Sign with BPDB:
August 25, 2011.

9. Cost of the Project:
Total Capital Investment (Fixed) = Tk. 802.50 Crore

10. Means of Finance:
A) Bank loan:
i. Term Loan= Tk.112.35 Crore
ii. IPFF* Fund of Bangladesh Bank = Tk.449.40 Crore Total Loan= Tk.593.85 Crore

B) Equity:
i. Entrepreneur= Tk. 160.50 Crore
ii. Preference Share= Tk. 80.25 Crore
Total= Tk. 240.75 Crore

11. Debt-Equity Ratio :
Debt -Equity Ratio of the project is 70: 30.

12. Proposed Plant Engine:
Wartsila Brand New Reciprocating Engine, Model No 18V46.

13. Fuel:
Heavy Fuel Oil (HFO)

14. Contract Period:
15 years from the Commercial Operation Date (COD)

15. Engineering, Procurement & Construction (EPC) Contractor: Ital Thai Power Company Ltd., 2034/161 Italthai-Tower, 43rd Floor, New Petchburi Road, Bangkapi, Huaykwang, Bangkok, Thailand 10310.

16. O & M Contractor:
Wartsila Finland, John Stenbergin Ranta 2FI-00530 Helsinki, Finland.

17. Financial Aspects:
The project has found financial viability. The details are shown in the following:

A. Project Cost:

|Sl. |Particulars |Total Cost in BDT | |1. |EPC Contract (Guaranteed Price) |7,535,250,000 | |2. |Pre operating Expenses & Contingency...
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