China’s Hexing signs deal to produce smart electricity meteres
DHAKA, Oct. 22 (NsNewsWire) — An agreement has been signed by Mr. Abdul Motaleb, Company Secretary, West Zone Power Distribution Company Limited (WZPDCL), Bangladesh on behalf of WZPDCL and Mr. Zhou Liangzhang, Chairman, Hexing Electrical Company Ltd, China for implementation of a joint venture company (JVC) named “Bangladesh Smart Electrical Company Limited (BSECL)” at Bidyut Bhaban, Dhaka .This agreement aims to establish a factory for manufacturing including Smart Pre-payment Meter & other electrical products in Khulna, Bangladesh. It is going to be the first ever State owned prepayment meter manufacturing & assembling factory in Bangladesh.
The ceremony was graced by Mr. Nasrul Hamid, MP, Honorable State Minister, Ministry of Power, Energy and Mineral Resources (MoPEMR) of the Government of Bangladesh as the chief guest. Besides Mr. Dr. Ahmad Kaikaus, Secretary, Power Division, MoPEMR, Mr. Khaled Mahmood, Chairman, Bangladesh Power Development Board (BPDB) were present as special guests. The contract signing ceremony was presided by Maksuda Khatun, Chairman, Board of Directors, WZPDCL & Additional Secretary (Coordination), Power Division, MoPEMR. Engr. Md. Shafique Uddin, Managing Director, WZPDCL, Head of different Division, Chief Executive Officers (CEO) & Managing Directors from different Agencies under Power Division were present on this historical event.
The signed contract between WZPDCL and HEXING will facilitate a Joint Venture (JV) Company being the first State-owned company in Bangladesh for implementing a plant for manufacturing Smart Pre-payment Meter and other electrical Appliances in Khulna Bangladesh, in compliance with Applicable Law (s) with WZPDCL and HEXING subscribing to the share capital of the JVC in the ratio of 51:49, respectively (WZPDCL, Bangladesh 51% & HEXING, China 49%).
The capacity of the plant is producing 0.5 million smart pre-payment meter per year. In this company, there will be employment opportunity of 150 person. Both of the companies are hopeful to start the commercial operation of the company on 1st January, 2019.
Engr. Md. Shafique Uddin, Managing Director, West Zone Power Distribution Company Ltd said, “According to the commitment of Government to enhance the quality of service to consumers, pre-payment meter is introduced. To bring all the consumers, which is almost 31.10 million under pre-payment metering system there is a huge demand of pre-payment meters now & in future. Considering these facts & figures this joint venture company is formed which will fulfill the demand of pre-payment meter within the country and simultaneously will save huge foreign currency needed for importing pre-payment meters. This smart meter company will play an important role to implement the Vision 2021 to make Digital Bangladesh.”
Mr. Zhou Liangzhang, Chairman, Hexing Electrical Company Ltd. said, “Government of the Peoples Republic of Bangladesh is committed to transform the country into Digital Bangladesh in every sphere of life to meet up the 21st century challenges. The main objective of Digital Bangladesh is to make government services available to door steps of every citizen of Bangladesh and enhance the quality of life. Government of Bangladesh has taken the initiative to cover all the areas under smart prepaid metering system for electricity consumers to achieve greater heights. Hexing will be always there as the development partner of Digital Bangladesh”
Company Profile of Bangladesh Smart Electrical Company:
Name of the Company : Bangladesh Smart Electrical Company Limited (BSECL)
Approval By the Cabinet : 17th September, 2018
Authorized Capital : Tk. 500 million
Paid up Capital : Tk. 286 million
WZPDCL & Hexing Ratio : 51:49
Location of the Factory : Khulna
Plant Net Capacity : 0.5 million smart pre-payment meter (per year)
Current Employment opportunity : 150 person
Contract Signing Date : 21st October, 2018
Commercial Operation Date (COD) : 1st January, 2019.For any queries please contact-
Press Release