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Summit Group emerges lowest bidder for power project
10 November 2010: The Summit Group has emerged as the lowest bidder in another project - 300-450 MW Meghnaghat Phase-II combined cycle dual fuel power plant in Bangladesh.
The JV of Summit Industrial and Mercantile Corporation and GE Energy LCC quoted a readout power tariff at 3.9874 US Cents per kilowatt hour electricity while its lone competitor Malaysian Powertek Berhad quoted the readout power tariff at 4.6024 US Cents.
Summit Industrial and Mercantile Corporation is a sister concern of the Summit Group while GE Energy is a US based power plant equipment manufacturer. They formed the JV to bid for power plant projects in the country.
However, Summit Group failed to become the lowest bidder in Bhola 150-225 MW gas-fired combined cycle power plant project.
In its bid for Bhola project, Summit, lost to its Malaysian competitor Ranhill Berhad which quoted readout tariff at 3.43 US Cents per kilowatt hour electricity. Summit’s offer was 4.14 US cents.
Source: Bangladeshinfo