Business Desk :
Intraco Refuelling Station Ltd, a listed refuelling service provider, saw its shares rise 8.6 percent to Tk 38.9 yesterday while the main index of the Dhaka Stock Exchange (DSE) fell by 10 points to 6,238.98.
Intraco’s shares were boosted after the company disclosed its plan to start commercial operations under a project for supplying compressed natural gas (CNG) from Bhola to Dhaka on December 27.
Intraco expects this move to sell gas from the southern district will increase its revenue and ensure better services for clients as per their demand, according to a company disclosure on the DSE website.
With paid-up capital of Tk 98 crore, Intraco announced 10 percent cash dividends for fiscal 2022-23.
On May 21 earlier this year, Intraco signed a contract with the state-owned Sundarban Gas Company to supply gas to different industries in Dhaka and its adjoining areas, including Gazipur and Tangail.
Under the 10-year contract, Intraco will bring CNG from Bhola using large trailers that have a carrying capacity of 5,000 cubic meters.
Industries will then buy the fuel for Tk 47.60 per 1,000 cubic metres.
As per the contract, Intraco will initially supply private industries with 5 million cubic feet of CNG each day before later increasing its capacity to 20 million cubic feet per day.