Energypac to build third LPG station in Bogura

Energypac Power Generation Ltd will initially invest Tk 25 crore to build an LPG satellite station in Bogura.

The company’s board decided to purchase 330 decimals (10 Bigha) land at the district’s Nandigram, it said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

“Construction work might begin by next year if the pandemic situation eases,” Energypac Managing Director and CEO of EPGL Humayun Rashid told The Business Post. The initial investment has been estimated at Tk 25 crore, he said.

It would be the third LPG station. The other two LPG bottling and distribution plants are located near Mongla Seaport and Narayanganj’ Rupganj. The refill capacity of these two stations is 5,000 and 600 tonnes per day respectively.

Once Bogura station is set up, Khulna or Narayanganj station needs not refill the cylinders from the North Bengal area. “This will boost the company’s revenue,” said Rashid.

The company reported earnings per share (EPS) of Tk 0.49 for July-September, which was Tk 0.44 in the same period a year ago. Its net asset value (NAV) per share was Tk 45.77 as of September 30, 2021. Energypac Power Generation Limited. (EPGL) was established in 1995 as a private limited company and listed in the capital market this year.

In 2020, EPGL raised Tk 150 crore through an initial public offering (IPO) to make liquid petroleum gas more available as a primary fuel source for vehicles in Bangladesh and repay the company’s bank loans.