The World Bank Report No: ISR4053 Implementation Status & Results Bangladesh Siddhirganj Peaking Power Project (P095965) Public Disclosure Copy Operation Name: Siddhirganj Peaking Power Project (P095965) Project Stage: Implementation Seq.No: 8 Status: ARCHIVED Archive Date: 26-Jun-2011 Country: Bangladesh Approval FY: 2009 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Power Grid Company of Bangladesh (PGCB), Gas Transmission Company Ltd (GTCL), Electricity Generation Company of Bangladesh (EGCB) Key Dates Board Approval Date 30-Oct-2008 Original Closing Date 31-Mar-2016 Planned Mid Term Review Date 31-Dec-2010 Last Archived ISR Date 26-Jun-2011 Effectiveness Date 31-Mar-2009 Revised Closing Date 31-Mar-2016 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The primary development objective is to support investments in peaking power supply capability in Bangladesh such that unmet demand for energy is reduced by 1-billion kWh per year. Unmet demand has an economic cost of at as much as 2% of GDP. A secondary development objective is to build capacity among the implementing agencies: Elctricity Generation Company of Bangladesh, Power Grid Company of Bangladesh, and Gas Transmission Company Limited (GTCL). Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost 335 MW Combined Cycle Power Plant (CCPP) 195.90 11 km, 230 kV power transmission line 53.90 60 km, 30-inch gas transmission line 104.30 Public Disclosure Copy Technical Assistance and MIS 33.90 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Implementation Status Overview Page 1 of 5 The World Bank Report No: ISR4053 Implementation of the project is on track. All contracts are progressing and capacity building of the three implementing agencies continued. The Electricity Generation Company of Bangladesh (EGCB) has issued the notification of award for the 335 MW combined cycle power plant (CCPP). Locations Public Disclosure Copy Country First Administrative Division Location Planned Actual Bangladesh Dhaka Division Siddhirganj Bangladesh Not Entered Maniknagar Bangladesh Not Entered Bakhrabad Bangladesh Dhaka Division Dhaka District Bangladesh Dhaka Division Narayanganj District Bangladesh Dhaka Division Munshiganj District Bangladesh Chittagong Comilla District Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Meeting peak demand for energy: - Annual Text Value Shortgae of electricity during Peaking power shortages Addition of 217 MW peaking contribtn of at least 1-billion kWh delivered to peaking period. continued. About 1,500 MW capacity to deliver at least 1 consumers; - Power & gas transmn assets of supply gap. billion kWh to the consumers. utilized by Siddhirganj 300 MW peak power Date 01-Apr-2009 20-Dec-2011 31-Oct-2013 plant & other users. Comments Project implementation delayed substantially (more than 24 months) due to the first failed procurement of the power plant and that the second procurement took Public Disclosure Copy long time to seek clarifications and finalise bid evaluation by EGCB. As per current schedule simple cycle is expected to be onstream in October 2013. Page 2 of 5 The World Bank Report No: ISR4053 Strengthng operations & governance of the Text Value Weak corporate governance implemtng agencies: - Timely implementation system in EGCB. PGCB and of the proj components; - Clear & GTCL have comparatively transparentreprtng on governance, finncl better governance specially in Public Disclosure Copy perfmnc, & env & social impact mgnt. procurement, FM and project management. Date 01-Apr-2009 20-Dec-2011 Comments Technical assistance for institution building of the three implementing agencies is showing good results in improved transactions, quality of procurement, faster project implementation, regular reporting, FM, and capacity enhancements in environment and social impact assessment and in dealing with project related environmental and social issues. Entities see values on the services of the Individual technical and procurement and other experts/ Owner's Engineer's and they were deeply engaged in finalising the bid documents. Very recently with posting of the new Managing Director, EGCB has been showing strong commitment in finalizing the various contracts . Public Disclosure Copy Intermediate Results Indicators Page 3 of 5 The World Bank Report No: ISR4053 Indicator Name Core Unit of Measure Baseline Current End Target (a) Contribute to meeting peak demand for Text Value 2.5-billion kWh delivered Persistent peak supply 2.5 billion kWh delivered to energy annually to help reduce heavy shortages to the tune of 1,500 grid substations per annum. Public Disclosure Copy annual load shedding; MW per day. monitoring of output will begin when plant comes intooperation. Date 31-Jan-2012 20-Dec-2011 31-Dec-2013 Comments There is delay on conclusion of power plant procurement. Other contracts are on track. (b) Strengthen governance of the implementing Text Value Inadequate corporate Entities meet annual Annual governance reporting. entities governance reporting governance reporting Date 30-Sep-2009 20-Dec-2011 31-Mar-2014 Comments Only EGCB delivered the 2010 and 2011 governance reporting but with delay. GTCL and PGCB have agreed to provide these by mid January 2012. The task team is having closer engagement with the agencies so that these are received on time. The entities made very goodprogress on procurement performance and FM action plan. Broadening involvement of the respective board subcommittees of the governance reporting, required to demonstrate more ownership. This requires Public Disclosure Copy management support of the respective entities. Further all the three entities should staff adequately their environment and social team so that they can effectively participate in the monitoring of EMPs and RAPs. Data on Financial Performance (as of 02-Aug-2011) Page 4 of 5 The World Bank Report No: ISR4053 Financial Agreement(s) Key Dates Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P095965 IDA-45080 Effective 30-Oct-2008 13-Nov-2008 31-Mar-2009 31-Mar-2016 Public Disclosure Copy Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P095965 IDA-45080 Effective XDR 222.60 222.60 0.00 1.92 220.68 1.00 Disbursement Graph Key Decisions Regarding Implementation Government has requested additional financing to cover the increased capital cost of the combined cycle power plant. The power plant contract is expected to be signed in February Public Disclosure Copy 2012. Restructuring History There has been no restructuring to date. Related Projects P124724-BD: Siddhirganj Power Project-AF Page 5 of 5