The power ministry is going to place a proposal to the cabinet purchase committee for approval of a previously cancelled bid of local Summit Power to set up the 450-megawatt Sirajganj powerplant.

In 2004, the power project was approved during the BNP-led alliance government but later the then prime minister cancelled it due to some political reasons.

This time Summit has brought some modifications keeping the earlier proposed tariff of US 2.78 cents per unit. The price is considered to be one of the lowest in the world, and it is the same as offered by the AES Meghnaghat 450-megawatt project signed during the previous Awami League-led government.

The tender for Sirajganj power project, the first publicprivate partnership power scheme, was floated in October 2002 when PDB had 40 percent stake in this project.

As a single bidder. Summit won the bid when the tender process was completed in November, 2003. The then cabinet purchase committee had approved it in March 2004 but it was cancelled in mid-2004.

After that the Power Cell of the ministry re-tendered this project, but failed to bag any practical offer in the last six years.

In October last year, Summit informed Prime Minister Sheikh Hasina about its interest to revive the project. When it was forwarded to the PDB, the power board sought some clarifications and then Summit gave its explanations.

Power division sources said, World Bank, International Finance Corporation and Asian Development Bank have expressed their interest in funding the project.