Bizdata Insights Main Logo

Intraco Subsidiaries Merge with Parent Entity

Industry: Energy & Power, Filling Station
Company: INTRACO Refueling Stations Limited
Company Intelligence Tag: Business Insights

Intraco Refueling Station Limited plans to merge three subsidiaries – M Hye & Co CNG Refueling Station Ltd, Nessa & Sons Ltd, and Good CNG Re-Fueling Station Ltd – with its main entity. The merger proposal, aimed at streamlining operations, has been approved by Intraco’s board. The surviving company will be Intraco Refueling Station. However, the proposal requires consent from Intraco’s shareholders, and approval from regulatory bodies including the Bangladesh Securities and Exchange Commission, creditor banks, subsidiary general meetings, and the High Court. The move impacts refueling stations in Habiganj, Dhaka, and Pabna. Intraco, established in 2007, currently operates eight refueling stations. The announcement led to a 9.84 percent surge in Intraco’s stock on the Dhaka Stock Exchange.

Source for more details:

Related News

7.64% Consumers Pay Bribes for Power Connections

December 4, 2023

Despite the government's assertion of achieving 100% electricity access, a survey conducted by Micro Industries Development Assistance and Services (Midas) reveals that 7.64% of consumers still resort to bribery to secure power connections.

12kg LPG Cylinder Sees Tk 23 Price Hike

December 4, 2023

In December 2023,  the price of 12kg liquefied petroleum gas (LPG) cylinders increased to Tk 23, now set at Tk1,404. LPG (autogas) for vehicles rises to Tk64.43 per kg from Tk63.36. Government-supplied LPG remains unchanged. The hike, unrelated to global LPG prices, is attributed to the Taka's depreciation against the dollar.

Biman Bangladesh Expands Middle East Flight Operations

December 4, 2023

Biman Bangladesh Airlines responds to rising demand by expanding flight services on key Middle East routes. Effective 28 December, BG235 introduces direct flights between Sylhet and Jeddah every Thursday, enhancing travel options to Saudi Arabia. Beginning 21 February 2024, BG236 offers direct Jeddah-Sylhet flights every Wednesday to cater to expatriates and pilgrims.

Rooppur Nuclear Plant Plans to Begin Operations in Late 2024

December 3, 2023

Bangladesh anticipates initiating nuclear power generation at the 2,400-megawatt Rooppur nuclear power plant by late 2024 or early 2025, as Russia completes fuel delivery via air cargo due to shipping sanctions.

UNIDO Adopts BD’s Resolution for Sustainable Supply Chain

December 3, 2023

The United Nations Industrial Development Organization (UNIDO) endorsed Bangladesh's resolution on enhancing member states' capabilities in building resilient and sustainable supply chains during its 20th General Conference in Vienna. With participation from leaders of 172 member states, the week-long conference addressed the disruptions caused by the COVID-19 pandemic and the Ukraine war to global supply chains.

5 Renewable Projects Planned to Tackle Fuel Price Surge

December 3, 2023

Bangladesh is strategically shifting towards renewable energy investments in response to surging energy costs driven by the Ukraine War and a commitment to sustainable development. Currently, the country is evaluating five new renewable power projects with a combined 700MW capacity.

Related News

7.64% Consumers Pay Bribes for Power Connections

December 4, 2023

Despite the government's assertion of achieving 100% electricity access, a survey conducted by Micro Industries Development Assistance and Services (Midas) reveals that 7.64% of consumers still resort to bribery to secure power connections.

12kg LPG Cylinder Sees Tk 23 Price Hike

December 4, 2023

In December 2023,  the price of 12kg liquefied petroleum gas (LPG) cylinders increased to Tk 23, now set at Tk1,404. LPG (autogas) for vehicles rises to Tk64.43 per kg from Tk63.36. Government-supplied LPG remains unchanged. The hike, unrelated to global LPG prices, is attributed to the Taka's depreciation against the dollar.

Biman Bangladesh Expands Middle East Flight Operations

December 4, 2023

Biman Bangladesh Airlines responds to rising demand by expanding flight services on key Middle East routes. Effective 28 December, BG235 introduces direct flights between Sylhet and Jeddah every Thursday, enhancing travel options to Saudi Arabia. Beginning 21 February 2024, BG236 offers direct Jeddah-Sylhet flights every Wednesday to cater to expatriates and pilgrims.

Rooppur Nuclear Plant Plans to Begin Operations in Late 2024

December 3, 2023

Bangladesh anticipates initiating nuclear power generation at the 2,400-megawatt Rooppur nuclear power plant by late 2024 or early 2025, as Russia completes fuel delivery via air cargo due to shipping sanctions.

UNIDO Adopts BD’s Resolution for Sustainable Supply Chain

December 3, 2023

The United Nations Industrial Development Organization (UNIDO) endorsed Bangladesh's resolution on enhancing member states' capabilities in building resilient and sustainable supply chains during its 20th General Conference in Vienna. With participation from leaders of 172 member states, the week-long conference addressed the disruptions caused by the COVID-19 pandemic and the Ukraine war to global supply chains.

5 Renewable Projects Planned to Tackle Fuel Price Surge

December 3, 2023

Bangladesh is strategically shifting towards renewable energy investments in response to surging energy costs driven by the Ukraine War and a commitment to sustainable development. Currently, the country is evaluating five new renewable power projects with a combined 700MW capacity.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here