Setting up pre-paid meter plant
West Zone Power signs deal with Chinese firm
UNB
State-owned West Zone Power Distribution Company Ltd (WZPDCL) yesterday signed a joint venture contract with a Chinese company to set up pre-paid smart electric meter manufacturing plant in the country, reports UNB.
To serve the purpose, the Chinese firm Hexing Electrical Co. Ltd and WZPDCL have formed a new joint venture company named Bangladesh Smart Electrical Company Limited where Bangladeshi firm has 51 percent stake while the other 49 percent of the shares belongs to the Chinese company.
The WZPDCL has been entrusted with the responsibility of power distribution in the countrys south-west region.
Welcoming the initiative, State Minister for Power and Energy Nasrul Hamid said more local companies should come forward to set up such venture to produce smart electrical meter and other devices which will create a healthy competition.
Once there is competition, there will be no scope for any monopoly and the people will get the right product at right price, he told the contract signing ceremony held with WZPDCLs chairman and additional secretary Maksuda Khatun at Biduyt Bhaban.
The function was also addressed by Power Secretary Dr. Ahmad Kaikaus, Power Development Board (PDB) chairman Khaled Mahmood, Hexing Electricals chairman Zhou Liangzhang and WZPDCL managing director Shafiq Uddin.
As per the contract, the new companys manufacturing plant will be set up in Khulna and it will annually produce 500,000 smart pre-paid electrical meters. The companys paid up capital has been mentioned as Tk 50 crore.
The State Minister said Bangladesh needs huge pre-paid meters as the number of electricity consumers are growing up with the increased power generation.
