Summit is building a 583MW dual fuel power plant in the Meghnaghat area of Narayanganj
Summit Group – a private sector investor – has received a stamp duty exemption of Tk110 crore on the registration of financial documents and land lease agreement for building a 583MW dual fuel power plant in the Meghnaghat area of Narayanganj.
The Internal Resources Division (IRD) under the Ministry of Finance issued an order in this regard on 27 October.
The order, signed by IRD's Senior Secretary and National Board of Revenue's Chairman Abu Hena Md Rahmatul Muneem, read, "In the private sector, the Summit Meghnaghat II Power Company Ltd has been exempted from the applicable stamp duty of Tk109.87 crore regarding the Letter of Hypothecation, Deed of Mortgage of Leasehold Interest, Share Pledge Agreement, Security Assignment and Land Lease Agreement for building the 583MW gas-LNG and diesel power plant in the Meghnaghat area of Narayanganj."
According to the IRD, Summit is taking 1,428 decimals of land on lease in the Char Ramzan Sonaullah Mouza under the Sonargaon upazila of the district for building the power plant.