The cabinet yesterday approved the draft of a joint venture agreement between Bangladesh's Rural Power Company Ltd and Norinco International of China to build two power plants to produce 1,320 MW electricity.
The approval was given at the weekly cabinet meeting at the Prime Minister's Office, with Prime Minister Sheikh Hasina in the chair.
“The power plants will be set up in Paira Port area of Patuakhali,” Cabinet Secretary M Shafiul Alam told reporters at the secretariat.
He said the cabinet also gave the go-ahead to the related Memorandum of Association and Article of Association of the joint venture company.
The company would have an authorised capital of Tk 40 crore and the value of its ordinary share would be Tk 100 each while its paid up capital would be Tk 20 crore, Shafiul added.
The operational procedure of the power plants will be ascertained in line with Bangladesh's laws and any arbitrational issues will be resolved through the Rules of Singapore Arbitrational Centre.
The cabinet also gave the final approval to the draft of the Wage Earners Board Act, 2017 which would replace the existing Wage Earners Welfare Rules, 2002 for conducting the activities of the Wage Earners Welfare Board.
“The new [draft] law clearly defined the term 'migrant' and 'migrant worker' saying all migrants and migrant workers will be considered as expatriate nationals,” the secretary informed reporters.
He said a 16-member committee, headed by the secretary of the expatriate welfare ministry, would comprise the Wage Earners Board for a three-year term.
The board will have 12 responsibilities, including taking up and implementing projects for ensuring wage earners' welfare, bringing home the bodies of the expatriates in the event of any death abroad and conducting their last rituals.
Shafiul said the board would have a special task of opening a help desk particularly to extend assistance to any female worker in danger abroad.