Canada-based exploration and production company Niko Resources Ltd. is planning to incur a capital expenditure (capex) of around Rs.340 crore in India and Bangladesh. The capex in India is for the work-over of wells and the development of R-cluster and Satellite fields in the Krishna-Godavari (KG) Basin off the eastern coast of India, reports said.
The proposed investment will have the backing of arm -the International Finance Corporation (IFC), which is planning to invest around $80 million.
The company has requested IFC to consider providing financing together with some other investors to support the company’s capex programme, IFC said.
The total financing of $340 million will be utilized to fund the company’s capex in India and Bangladesh through 2016 and the refinancing of some outstanding debt.
The capex programmes include work-over of wells in the D1-D3, MA and the development of the R-cluster and Satellite fields and upgrading the surface facilities in the KG Basin and to take up development work for Block 9 in central Bangladesh, between Dhaka and Comilla.
The project in Bangladesh includes two development wells, up-gradation of the production facility and installation of additional compression to arrest production declines.
The company will also restructure its debt by refinancing the expiring debt instruments with loans of longer maturity.
Human Resources For Health: Foundation For Universal Health Coverage And The Post-2015 Development Agenda.. Bangladesh has shown remarkable improvement in certain health and population development indicators. There has been a comprehensive network of government health facilities to provide maternal, neonatal … read more
, Beximco pays off state bank..“Beximco has repaid the amount through a pay order,” it said, adding that the situation that arose due to a misunderstanding has been resolved. The conglomerate repaid the loans after the bank decided to sue … read more
” Atiur Rahman, governor of Bangladesh Bank, cuts a cake to launch Brac IT Services Ltd (biTS), a subsidiary of Brac Bank, at Lakeshore Hotel in Dhaka on Thursday. Muhammad A (Rumee) Ali, chairman of biTS, and Syed Mahbubur Rahman, … read more
The government has decided to lay the foundation of the coal-based in Bagherhat, near the Sundarbans, on Oct 22 despite vehement and widespread opposition by environmental activists and other social groups.. The Prime Minister’s Energy Adviser Tawfiq-E-Elahi Chowdhury made the … read more
The government is looking to renew contracts with efficient oil-fired power plants based on their fuel consumption levels and tariff rates to ensure a sound fuel-mix for future energy security, Prime Minister’s energy adviser Dr Tawfiq-e-Elahi Chowdhury told the FE … read more
sources – Imagine a Bangladesh where a chronically ill patient in Baliadangi can avail instant advice from specialists in Dhaka, which can be possible for extending 3G service. This week, Bangladesh made a significant leap towards a mobile, digital future. … read more
The owner of a clothing factory in Dhaka, Bangladesh, was at New York University last week to meet with clothing industry executives, labor activists and American and European government officials to talk about the Bangladeshi garment industry, the world’s second-biggest … read more
The head of Bangladesh’s largest mobile phone company said Tuesday it is ready to invest millions of dollars to prepare for 3G operations after gaining spectrum in the country’s first open 3G auction. On Sunday, Grameenphone Ltd. won 10 megahertz … read more
JCB International Co., Ltd. (JCBI), the international subsidiary of JCB, the only global payment brand based in Japan today announced that BRAC Bank Limited (BRAC Bank), a leading commercial bank in Bangladesh, starts JCB merchant acquiring operations in Bangladesh based … read more
If there is any doubt that the global apparel trade has involved a massive scramble to the bottom when it comes to wages and working conditions, the Center for American Progress and the anti-sweatshop Workers Rights Consortium would like to … read more
At the outset, it may seem that a rebound of India’s garment production as well as overall textile exports in April is somehow connected to a collapse of an eight-storey commercial building Rana Plaza in Bangladesh. The link seems obvious … read more