Titas Plans Tk12,416 Crore Project to Replace Leaky Gas Pipelines

Industry: Energy & Power, LNG
Company: Titas Gas Transmission and Distribution Company Limited
Company Intelligence Tag: Business Insights

Titas Gas Transmission and Distribution Company Limited is preparing a project proposal to address the issue of leaky gas pipelines in Dhaka and Narayanganj. With recent gas leakage incidents causing concern among city residents, the state-run gas distribution company aims to implement a Tk12,416 crore project starting in July 2023. However, foreign loans need to be secured for 38% of the total project cost before the implementation can begin.

The proposed project aims to replace approximately 2,700 kilometers of pipelines. The existing distribution lines, constructed in the 70s and 80s, have suffered damage over time, especially during the construction of other utility lines. Titas Gas has sent the primary project proposal to secure financing from development partners, with the government providing Tk7,669 crore and estimated loans of Tk4,733 crore from aid agencies. The project will improve gas flow capacity, reduce gas leakage-related accidents, and decrease methane emissions. However, seeking foreign funds may cause delays in project implementation.

Source for more details:

Related News

IDCOL Pays Tk 50 Crore Dividend to Government

December 4, 2024

The Infrastructure Development Company (Idcol), a state-owned financial institution in Bangladesh, paid a Tk 50 crore cash dividend to the government for FY 2023. Md Shahriar Kader Siddiky, secretary of the Economic Relations Division and Idcol chairman, handed over the cheque to Finance Adviser Salehuddin Ahmed, who commended Idcol's contributions to infrastructure development and renewable energy.

LPG Price Holds at Tk 121.25 per Kg

December 4, 2024
The Bangladesh Energy Regulatory Commission (BERC) has kept the price of liquefied petroleum gas (LPG) unchanged for December at Tk 121.25 per kg, effective from 6 PM Tuesday. Prices for all LPG cylinder sizes, from 5.5 kg to 45 kg, remain stable, as Bangladeshi operators import LPG based on the Saudi contract price, which saw no changes.

Aziz Pipes Struggles with Tk 1 Billion in Unpaid Loans

December 4, 2024

Aziz Pipes has been out of production since May due to a working capital shortage and accumulated losses of Tk 322.48 million by June 2024. The company's liabilities now exceed its assets, with negative equity of Tk 199.4 million in FY24.

BB Approves Tk 3,000 Crore Loan for ICB

December 4, 2024

The Bangladesh Bank (BB) approved a Tk3,000-crore loan for the Investment Corporation of Bangladesh (ICB) to stabilize the capital market and repay high-cost deposits. The loan, set at a 10% interest rate, differs from ICB’s request for 4%.

ACME Lab Sponsor Plans Share Sale to Resolve Sinha Securities Shortfall

December 4, 2024

Sinha Securities' Chairman, Parveen Akhter Khanam, will sell 2 lakh shares of ACME Laboratories from her 65.15 lakh shareholding to reduce a deficit in the brokerage firm's consolidated customer account (CCA). The shares, valued at over Tk1.47 crore, will be sold under the Bangladesh Securities and Exchange Commission's (BSEC) directive.

Daffodil Computers to Issue 4.67 Crore New Shares

December 4, 2024

Daffodil Computers plans to issue 4.67 crore new shares at Tk10 each to convert loans from the Daffodil Family into equity, significantly lower than the current market price of Tk63.9 per share. The decision, approved by the company's board, comes after the company failed to repay around Tk47 crore in loans, weakening its financial health.

Related News

IDCOL Pays Tk 50 Crore Dividend to Government

December 4, 2024

The Infrastructure Development Company (Idcol), a state-owned financial institution in Bangladesh, paid a Tk 50 crore cash dividend to the government for FY 2023. Md Shahriar Kader Siddiky, secretary of the Economic Relations Division and Idcol chairman, handed over the cheque to Finance Adviser Salehuddin Ahmed, who commended Idcol's contributions to infrastructure development and renewable energy.

LPG Price Holds at Tk 121.25 per Kg

December 4, 2024
The Bangladesh Energy Regulatory Commission (BERC) has kept the price of liquefied petroleum gas (LPG) unchanged for December at Tk 121.25 per kg, effective from 6 PM Tuesday. Prices for all LPG cylinder sizes, from 5.5 kg to 45 kg, remain stable, as Bangladeshi operators import LPG based on the Saudi contract price, which saw no changes.

Aziz Pipes Struggles with Tk 1 Billion in Unpaid Loans

December 4, 2024

Aziz Pipes has been out of production since May due to a working capital shortage and accumulated losses of Tk 322.48 million by June 2024. The company's liabilities now exceed its assets, with negative equity of Tk 199.4 million in FY24.

BB Approves Tk 3,000 Crore Loan for ICB

December 4, 2024

The Bangladesh Bank (BB) approved a Tk3,000-crore loan for the Investment Corporation of Bangladesh (ICB) to stabilize the capital market and repay high-cost deposits. The loan, set at a 10% interest rate, differs from ICB’s request for 4%.

ACME Lab Sponsor Plans Share Sale to Resolve Sinha Securities Shortfall

December 4, 2024

Sinha Securities' Chairman, Parveen Akhter Khanam, will sell 2 lakh shares of ACME Laboratories from her 65.15 lakh shareholding to reduce a deficit in the brokerage firm's consolidated customer account (CCA). The shares, valued at over Tk1.47 crore, will be sold under the Bangladesh Securities and Exchange Commission's (BSEC) directive.

Daffodil Computers to Issue 4.67 Crore New Shares

December 4, 2024

Daffodil Computers plans to issue 4.67 crore new shares at Tk10 each to convert loans from the Daffodil Family into equity, significantly lower than the current market price of Tk63.9 per share. The decision, approved by the company's board, comes after the company failed to repay around Tk47 crore in loans, weakening its financial health.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here