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Pakistan has about 850 billion cubic feet resources of coal at the moment but unfortunately the country has been facing an acute shortage of electricity which is badly affecting the national economy.
The available resources of the coal are equal to 400 billion barrels of oil and the government has been spending $4 billion annually to fulfill the demand of oil but such a costly demand can be easily fulfilled by utilizing only two percent of available resources of coal in the country.
Before investing in BGMO or any other stock do your own DD,there is alot of information at BGMO website.
www.bergamocorp.com
60 Months GOP L/C Standby $ 1045 Million Energy Buy Back Guarantee 24 months - 24 months plus 12 months.
Highlights of Coal Project 544 MW Bringing Clean Energy to Pakistan
* 544 MW PROJECT APPROVED BY MINISTRY OF WATER & POWER GOVERMENT OF PAKISTAN
* 60 MILLION DOLLARS UPFRONT PAYMENT GUARANTEE FROM GOVERMENT OF PAKISTAN UPON BERGAMO ACQUISITION CORP’S ABILITY TO COMPLETE FINANCING REQUIRED 420 MILLION US DOLLARS TO COMPLETE THE PROJECT.
* 416 MILLION US DOLLARS STANDBY L/C TO BE ISSUED BY GOVERMENT OF PAKISTAN CLASS A BANK TO SECURE FUTURE ENERGY SALES . THIS L/C TO BE RENEWED FOR ADDITIONAL 24 MONTHS AND SUBSEQUENT 1 YEAR TO COMPLETE TERM OF THE POWER PURCHASE AGREEMENT.
* 191 MILLION US DOLLARS FUEL COMPONENT PLEASE REVIEW POWER PURCHASE AGREEMENT COMPLETE DISCRIPTION OF EPC CONTRACT AND POWER PURCHASE AGREEMENT IS IN THE POWER POINT PRESENTATION
* 200 ACRES LAND IN PLACE WITH GRID LINE ENERGY DISTRIBUTION, COAL MINING, NEXT TO THE SINDH SEA, ROADS ALREADY DEVOLOPED AND GOVERMENT WILL BUILD LAKE ON GOVERMENTS EXPENSE AT THE SITE. COMPLETE IDENTIFICATION OF PROJECT IS AVAILABLE UPON REQUEST.
* MEMORANDUM OF UNDERSTANDING SIGNED WITH ARIF HABIB BANK LTS WHO WILL BE INVESTMENT BANK IN PAKSITAN AND INVESTMENT ADVISORS.
www.bergamocorp.com
$30 bln planned for power sector upto 2016: Zardari
ISLAMABAD, May 7 (APP): President Asif Ali Zardari on Saturday said an investment of 30 billion dollars had been planned in the power sector up to year 2016. Addressing the joint sitting of parliament, the President said the government had inherited power shortage of around 3,500 Megawatts.
The President said the sources of funding of 8 billion dollars Basha Dam had been identified, and its construction would start in about a year’s time.
He appreciated the way in which the government had taken the challenge head on, adding that private sector had been encouraged to come forward.
President Zardari said a number of IPPs and rental power projects were being set up, and said some of them would be recommissioned this year and relieve the burden.
www.bergamocorp.com
Let’s look at 18 Reasons to Invest in the Power Sector in Pakistan:
1. Strategic Importance Adequate power supply is a key to achieving sustainable economic growth. Presently, out of around 162 million population only 65– 70% has access to electricity and the Government is committed to provide electricity access to total population in the minimum possible time.
2. Strong and increasing Demand for Electricity Demand has outstripped supply of electricity; the country is currently facing power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), clearly indicates the fundamental need for enhancing the country’s current power generation capability.
3. World-Renowned Companies Already Operating in Pakistan Presently, sixteen Independent Power Producers (IPPs) are operating in the country. Thus, world-renowned power sector players are already present in the market, e.g. Siemens, General Electric, AES, International Power, El Paso, Tenaska.
4. IPPs under Construction A t least ten IPPs with a capacity of 2,200 MW have achieved Financial Close and started project construction after getting approval of tariff from NEPRA-through a well-defined process of tariff approval that includes public hearing. These IPPs are sponsored by local as well foreign investors.
5. GoP’s Policy Commitment to Increase Private Sector Participation Presently, approximately 40% of generation capacity of the country is in private sector, and another 2,200 MW IPPs are under construction. The successive governments in the country have reiterated the commitment to increase private sector participation. Consequently, major divestments of public sector units have been made in various sectors while no thermal generation capacity has been added in the public sector since the early 90’s.
6. Transparent Regulatory EnvironmentThe National Electric Power Regulatory Authority (NEPRA) has been setup for the regulation of power sector in Pakistan; in order to balance the interests of consumers and power sector companies. NEPRA has made considerable progress towards the development of the regulatory regime and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations laid down by the regulator for reliable and efficient operation of the power sector.
7. One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last one decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
8. Availability of GOP’s Guarantees GOP guarantees the performance obligations of its entities such as the power purchaser, and the provinces. GOP also provides protection to sponsors and lenders in case of termination of the project.
9. Predictable Multi-Year & Long-Term Tariff tpically, a long-term tariff of 25 – 30 years is contracted with the power purchaser. The IPPs, thus, are not subjected to market risk for their output. The projects are expected to earn an attractive / competitive and stable return on investment.
10. Standardized Security Package Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA), etc. – are available upfront.
11. Pass-through of Fuel Cost and Additional Taxation Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is liable to be passed on to the power purchaser.
12. Risk Coverage for Exchange Rate Variation To cover the exchange rate variations risk, the various tariff components are indexed for variation in the Pak Rupee and US$ exchange rates.
13. Protection against change in Duties & Taxes and Political Risks GOP guarantees protection against any change in duties and taxes, and against specified “political risks”.
14. Income Tax Exemption Exemption from income tax, including turnover rate tax and withholding tax on import, is available to private power generation projects.
15. Abundant Hydel / Coal Potential There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country. The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tonnes.
16. Power Purchaser to bear Hydrological Risk For hydropower projects, hydrological risk is to be borne by the power purchaser.
17. Availability of Skilled Manpower Good quality and cost-effective technical manpower is available in Pakistan.
18 Availability of Financing Banks are keen to lend to the power sector due to lower risk profile and GoP’s guarantee for power purchaser and the provinces.
Filed under 18 Reasons to Invest in Pakistan, Bergamo · Tagged with
WOW!!!!! Congdradulatios to Hillard And Sohail great job.
Bergamo Acquisition Corp. and Bergamo E&A Receive Terms for $1.5 Billion USD Financing Agreement for Two Pakistan Energy Projects
Ticker Symbol: U:BGMO
-Clean Coal Power Plant and the Construction and Production of an LED Lighting Fixtures Facility-
LAS VEGAS, May 7 /PRNewswire-FirstCall/ -- Bergamo Acquisition Corporation announced today that its wholly owned subsidiary, Bergamo E&A, has received a Term Sheet to provide $1,500,000,000 USD in financing for two energy projects in Pakistan. The financing is for a term of seven years at 2.5% per annum and with an up-front cost of 8% which is payable upon delivery of the funds into a Certificate of Deposit in the designated Pakistani bank into the account for the lender. These funds will be used to finance the two energy projects. Once Bergamo Acquisition Corp. accepts and signs off on the funding, the deal will be closed and will fund within 30 days as required in the Agreement.
Hillard Herzog, President and CEO of Bergamo Acquisition Corp., remarked, "After reviewing the specifics of the Term Sheet, we find everything to be workable for the Company. We are aggressively moving forward and expect this deal to be closed and funded shortly. The people of Pakistan need new sources of energy and these two clean energy projects will make a significant contribution to improving their lives. The Pakistani Government sees the improvement in the standard of living for its citizens as a key component to peace and stability for its democracy."
Bergamo E&A will provide solar and LED high efficiency lighting for which over one half of the financing will be dedicated. The remainder of the $1.5 billion USD financing will support the construction of a clean coal fired energy plant. This plant is to be engineered to the highest, environmentally safety standards. Bergamo E&A entered into a Letter of Intent with Pakistan on July 11, 2008, for a seven year Energy Purchase Agreement. Pakistan agreed to provide a suitable and appropriate location to develop what was subsequently agreed to be a 544 MW coal fired power plant supported by a negotiated tariff for the price of coal with all agreements to be guaranteed by the Government of Pakistan and all financial obligations incurred on a non-recourse basis.
Bergamo Acquisition Corp. is very sensitive to the environment. The standards for the clean coal project are equivalent to the State of California. The solar and LED lighting are both very good for the environment. The solar lighting means that the abundance of sunshine during the day will light key highways and other critical areas of the nation's infrastructure at night.
In addition, a Letter of Intent for a Rental Service Contract was signed between Bergamo E&A and the Government of Pakistan, on November 7, 2008, for a 544MW coal fired power plant to be delivered to the site and agreed upon between the parties and will be operational within fourteen months. The Agreement provides that the plant will be located at a site provided by the Pakistani Government near Pataro, Jamshoro, Province of Sindh. This is the location of the Thar Desert which has immense coal reserves estimated at 272 billion tons. These lignite reserves are of a quality suitable for combustion in power generation and are projected to be sufficient to produce energy for Pakistan for the next 200 years. The Letter of Intent also provides for a five year Operation and Maintenance Service Agreement.
The Pakistani Government agreed to provide a 7% down payment to be paid within ten days from the submission of the advance payment bank guarantee which is anticipated to be roughly $60M USD. In accord with these agreements, the Arif Habib Bank will serve as investment bankers and advisors in Pakistan. Arif Habib Bank has been picked to accept the $1.5 billion USD Certificate of Deposit to support the Bergamo E&A activities in Pakistan.
Bergamo E&A has engaged Salim Chamdia, the former Chairman of The Karachi Stock Exchange, to assist Bergamo in its financial undertakings in Pakistan. Mr. Chamdia has been named a Vice President and a Director of Bergamo E&A.
The April 2009, BMI Pakistan Power Report forecasts Pakistan will account for 1.35% of Asia Pacific regional power generation by 2013. BMI has forecasted an increase in regional generation by 2013 of 34%. BMI forecasts Pakistan power consumption will increase as production increases which assumes a 4.3% annual growth in electricity generation. Between 2007 and 2018, BMI is forecasting an increase in Pakistani electric generation of 63.2%, which is mid-range for the Asia Pacific region.
Certain statements contained in this document may constitute "forward-looking statements". When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "investigate", "looking at" as they relate to Bergamo Acquisition Corp. or its management, are intended to identify forward-looking statements or information. Such forward-looking statements include, among others, the expectations or claims, as applicable, that: (i) Bergamo E&A will successfully develop power projects in Pakistan. Such statements or information reflect Bergamo E&A's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Bergamo E&A's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Bergamo E&A files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Bergamo Acquisition Corp. expressly disclaims any intention or obligation to update or revise any forward looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
Contact Information:
Bergamo Acquisition Corp
Hillard Herzog
President & CEO
Tel: (702) 269-0820
Email: hillardbergamo@aol.com
Web: www.BergamoCorp.com
Investor Relations:
Quarterback Investor Relations
John Pentony, President
Tel: (469) 252-3030
Email: John@QuarterbackIR.com
Web: www.QuarterbackIR.com
The Eversull Group, Inc.
Jack Eversull, President
972-378-7917
972-378-7981 (fax)
Email: jack@theeversullgroup.com
Web: www.theeversullgroup.com
Bergamo Acquisition Corporation
CONTACT: Hillard Herzog, President & CEO of Bergamo Acquisition Corp,
+1-702-269-0820, hillardbergamo@aol.com; or Investors, John Pentony,
President of Quarterback Investor Relations, +1-469-252-3030,
John@QuarterbackIR.com; or Jack Eversull, President of The Eversull Group,
Inc., +1-972-378-7917, fax, +1-972-378-7981, jack@theeversullgroup.com
Web site: http://www.BergamoCorp.com/
http://www.QuarterbackIR.com/
http://www.theeversullgroup.com/
$30 bln planned for power sector upto 2016: Zardari
ISLAMABAD, April 22 (APP): President Asif Ali Zardari on Saturday said an investment of 30 billion dollars had been planned in the power sector up to year 2016. Addressing the joint sitting of parliament, the President said the government had inherited power shortage of around 3,500 Megawatts.
The President said the sources of funding of 8 billion dollars Basha Dam had been identified, and its construction would start in about a year’s time.
He appreciated the way in which the government had taken the challenge head on, adding that private sector had been encouraged to come forward.
President Zardari said a number of IPPs and rental power projects were being set up, and said some of them would be recommissioned this year and relieve the burden.
www.bergamocorp.com
Washington, Apr 22 (PTI) Taking the US-Pak-Afghan meeting to the highest level, President Barack Obama has invited his Pakistani and Afghan counterparts Asif Ali Zardari and Hamid Karzai respectively to White House in early May to discuss the situation in the region.
As a result the second tri-lateral meeting between the three countries, which was earlier schedule to be held at the level of Foreign Minister, would now be converted into a US-Afghan-Pak summit.
The first ever summit between the three countries after Obama's inauguration as US President would be held on May six and seven, the same dates on which the second tri-lateral meetings was scheduled for, diplomatic sources told PTI.
The summit would bring face to face the three leaders together, they said.
As was the case with the first tri-lateral meeting at the Foreign Minister level, Obama would be meeting one-o-one with Karzai and Zardari; following which the three leaders would be meeting together to discuss the current situation in the region and chalk out a common strategy to defeat al Qaeda and the Taliban in the Af-Pak region. PTI LKJ ZH 04221316 DELHI
Friends of Pakistan pledge $5.28 bn to help stabilise Pakistan
Bergamo Acquisition Corp Engages Quarterback IR and The Eversull Group to Lead Its Investor Relations Efforts
Ticker Symbol: U:BGMO
LAS VEGAS, April 7 /PRNewswire-FirstCall/ -- Bergamo Acquisition Corporation announced today that it has retained Quarterback Investor Relations and The Eversull Group to lead the Company's investor relations efforts. The move comes as Bergamo makes progress in its negotiations with the Pakistani government with projects within Pakistan.
John Pentony and his firm Quarterback Investor Relations ("QIR") have been retained to lead the investor relations program for Bergamo. QIR will be involved in all of the planning and execution of Bergamo's investor relations and investor awareness efforts. John Pentony will operate in a very close relationship to the management of Bergamo, and will consult in all related matters.
Mr. Pentony spoke about the new relationship with Bergamo: "I am very pleased to work so closely with Bergamo. It is clear to me that Bergamo has a great future lined up, and I look forward to being a part of the day-to-day roll-out of information on this company. My entire team is proud to be associated with Bergamo."
Jack Eversull, President of The Eversull Group, said, "Our firm has considerable energy and international experience. We look forward to assisting BGMO in building credibility within the investment community as they grow the company."
Bergamo Acquisition Corp is a publicly traded company, headquartered in Nevada undertaking a number of very important projects in Pakistan. As previously announced Bergamo E&A Corp, a company organized in Pakistan that is a wholly owned subsidiary of Bergamo, has entered into and has signed two Memorandum of Understandings for energy projects in Pakistan. This furthers Bergamo's entry into the energy sector. Bergamo also has a very active apparel division that has been active since July of 1997. As a new development Bergamo Acquisition Corp has entered into an agreement with Bergamo Apparel Corp and United Collective Corp (UCC) located at 1410 Broadway New York to restructure its apparel business expected sales of the restructured company for the years 2009-2010 are estimated at 99 million dollars and estimated net profits at 3.0 million dollars company has acquired or through license have available the following consumer labels. (Red Lion, Fortune Blue, Ninety, Humility, Hefe 1904, fortune denim, Monte Carlo Polo and production Label Limited, Bill Blass and Members only.
Statements included in this release related to Bergamo Acquisition Corp., Inc. may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the ability to locate additional debt or equity financing on reasonable terms, competitive factors, market demand for the Company's products, and the Company's ability to obtain new orders and fulfill them on profitable terms. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with PinkSheets.com.
Web: www.BergamoCorp.com
Web: www.QuarterbackIR.com
Bergamo Acquisition Corp
CONTACT: Hillard Herzog, President & CEO of Bergamo Acquisition Corp,
+1-702-269-0820, hillardbergamo@aol.com; or Investor Relations, John
Pentony, President of Quarterback Investor Relations, +1-469-252-3030,
John@QuarterbackIR.com; or Jack Eversull of The Eversull Group, Inc.,
+1-972-378-7917, fax, +1-972-378-7981, jack@theeversullgroup.com
Web site: http://www.QuarterbackIR.com/
http://www.BergamoCorp.com/
April 02, 2009 03:20
The Kerry Lugar bill that would give a whooping US $ 7.5 billion non-military aid to Pakistan, which US President Barack Obama [Images] last week termed as a "down payment" and "investment" into America's future, would be introduced in the US Senate on Thursday.
The bill is being sponsored by Senator John Kerry, Chairman of the Senate Foreign Relations Committee, and
Senator Richard Lugar, the Ranking Member of the Committee.
Obama has urged the Congress to facilitate an early passage of the bill. Being billed as a key to the success in Pakistan, the Kerry-Lugar bill authorises US $ 7.5 billion over the next five fiscal years in non-military aid. It advocates an additional US $ 7.5 billion over the subsequent five years.
30 Billion reasons to invest in Bergamo
$30 bln planned for power sector upto 2016: Zardari
ISLAMABAD, Mar 28 (APP): President Asif Ali Zardari on Saturday said an investment of 30 billion dollars had been planned in the power sector up to year 2016. Addressing the joint sitting of parliament, the President said the government had inherited power shortage of around 3,500 Megawatts.
The President said the sources of funding of 8 billion dollars Basha Dam had been identified, and its construction would start in about a year’s time.
He appreciated the way in which the government had taken the challenge head on, adding that private sector had been encouraged to come forward.
President Zardari said a number of IPPs and rental power projects were being set up, and said some of them would be recommissioned this year and relieve the burden.
www.bergamocorp.com
'Friends of Pakistan' set to finalise agenda for $30b
Staff Report
Published: April 01, 2009, 23:20
Abu Dhabi: The "Friends of Democratic Pakistan" organisation is discussing a proposal of a 10-year $30 billion (Dh110 billion) investment package at its two-day expert level meeting that started on Thursday in Abu Dhabi
Experts Targeting Projects in Pakistan
Mohammad Abdul Qudoos
2 April 2009
ABU DHABI - Experts from Pakistan and 24 other countries and institutions comprising the Friends of Democratic Pakistan forum, or FoDP, began two days of talks on Wednesday to identify critical development projects
in Pakistan.
The experts will prepare recommendations for projects relating to development, energy, institution building, security, and trade and finance.
These recommendations will be finalised at the senior officials’ meeting in Tokyo on April 16 and presented to the FoDP ministerial meeting and donors’ conference on April 17 in Tokyo.
Pakistani President Asif Ali Zardari and the Japanese Prime minister Taro Aso will chair the ministerial meeting. President Zardari had launched the initiative of FoDP last September in New York. Inaugurating the experts’ meeting in Abu Dhabi, Dr. Anwar Mohammad Gargash, Minister of State for Foreign Affairs, expressed the UAE government’s strong support for Pakistan’s development needs.
Pakistan has about 850 billion cubic feet resources of coal at the moment but unfortunately the country has been facing an acute shortage of electricity which is badly affecting the national economy.
The available resources of the coal are equal to 400 billion barrels of oil and the government has been spending $4 billion annually to fulfill the demand of oil but such a costly demand can be easily fulfilled by utilizing only two percent of available resources of coal in the country.
Before investing in BGMO or any other stock do your own DD,there is alot of information at BGMO website.
www.bergamocorp.com
Text of 2nd address of President Asif Zardari to the Parliament
March 28, 2009 – 8:08 pm
ENERGY
Madam Speaker!
Members of the Parliament!
The government inherited power shortage of around 3,500 megawatts. I appreciate the way in which the government has taken the challenge head on. The private sector has been encouraged to come forward. And they have come forward in a big way. A number of IPPs and rental power projects are being set up. Some of them will be commissioned this year and relieve the burden. The construction of 1000 MW Neelum Hydel Project in Azad Kashmir has started.
The sources of funding, of 8 billion dollars Bhasha Dam have been identified. Its construction would start in about a year’s time. An investment of 30 billion dollars has been planned in the power sector by up to 2016. It includes development of the long awaited Thar coal project Out of this, 20 billion dollars will be contributed by the private sector.
$30 bln planned for power sector upto 2016: Zardari
ISLAMABAD, Mar 28 (APP): President Asif Ali Zardari on Saturday said an investment of 30 billion dollars had been planned in the power sector up to year 2016. Addressing the joint sitting of parliament, the President said the government had inherited power shortage of around 3,500 Megawatts.
The President said the sources of funding of 8 billion dollars Basha Dam had been identified, and its construction would start in about a year’s time.
He appreciated the way in which the government had taken the challenge head on, adding that private sector had been encouraged to come forward.
President Zardari said a number of IPPs and rental power projects were being set up, and said some of them would be recommissioned this year and relieve the burden.
www.bergamocorp.com
Pakistan Energy Policy Enables Energy Suppliers to Procure financing on reasonable terms with G8 Bank guarantees.
Pakistan Goverment has following policy for Energy Projects and is signing agreements with energy suppliers all over the world.
a) Rental Agreements 5 years with 2 years extention.
b) If the Cost of Project is 400 million dollars. The Goverment of Pakistan provides the following upon your financing ability.
1. 7% of the total cost of the project which equals 60 million us dollars this is upfront payment upon proof of complete financing.
2. 400 million dollars additional letter of credit from G8 AAA rated bank to draw down monthly energy billing.Every 24 months the new L/C for 400 million is issued to cover energy billing.
3. 190 Million Dollars is fuel component.
4. Land around 200 acres is alloted at Goverment price to set up projects.
5. There is no restriction to transfer your profits out of the country.
6. Tax Beneifits.
7. Pakistan Goverment is seeking proposals from various energy providers to submit their proposals.
Energy is the 1st priority for Goverment of Pakistan. The President of Pakistan is focused on energy issue.
Pakistan president welcomes Obama initiatives: State media
27 Mar 2009, 2215 hrs IST, AFP
Print Email Discuss Share Save Comment Text:
ISLAMABAD: Pakistan President Asif Ali Zardari Friday welcomed US President Barack Obama's initiatives "to strengthen democracy" in Pakistan and
his call for billions in aid for the troubled nation, state media reported.
"President Asif Ali Zardari on Friday welcomed (the) US president's initiatives for Pakistan to strengthen democracy and his call to US congress to pass a bill for 1.5 billion dollars aid to Pakistan every year," the official APP state news agency said.
"President Zardari said that Pakistan has always held the Pak-US relations in high esteem and his (Obama's) announcements during a speech on a new strategy on Afghanistan and Pakistan will further cement these ties,"
Highlights of Coal Project 544 MW Bringing Clean Energy to Pakistan
* 544 MW PROJECT APPROVED BY MINISTRY OF WATER & POWER GOVERMENT OF PAKISTAN
* 60 MILLION DOLLARS UPFRONT PAYMENT GUARANTEE FROM GOVERMENT OF PAKISTAN UPON BERGAMO ACQUISITION CORP’S ABILITY TO COMPLETE FINANCING REQUIRED 420 MILLION US DOLLARS TO COMPLETE THE PROJECT.
* 416 MILLION US DOLLARS STANDBY L/C TO BE ISSUED BY GOVERMENT OF PAKISTAN CLASS A BANK TO SECURE FUTURE ENERGY SALES . THIS L/C TO BE RENEWED FOR ADDITIONAL 24 MONTHS AND SUBSEQUENT 1 YEAR TO COMPLETE TERM OF THE POWER PURCHASE AGREEMENT.
* 191 MILLION US DOLLARS FUEL COMPONENT PLEASE REVIEW POWER PURCHASE AGREEMENT COMPLETE DISCRIPTION OF EPC CONTRACT AND POWER PURCHASE AGREEMENT IS IN THE POWER POINT PRESENTATION
* 200 ACRES LAND IN PLACE WITH GRID LINE ENERGY DISTRIBUTION, COAL MINING, NEXT TO THE SINDH SEA, ROADS ALREADY DEVOLOPED AND GOVERMENT WILL BUILD LAKE ON GOVERMENTS EXPENSE AT THE SITE. COMPLETE IDENTIFICATION OF PROJECT IS AVAILABLE UPON REQUEST.
* MEMORANDUM OF UNDERSTANDING SIGNED WITH ARIF HABIB BANK LTS WHO WILL BE INVESTMENT BANK IN PAKSITAN AND INVESTMENT ADVISORS.
www.bergamo.com
Let’s look at 18 Reasons to Invest in the Power Sector in Pakistan:
1. Strategic Importance Adequate power supply is a key to achieving sustainable economic growth. Presently, out of around 162 million population only 65– 70% has access to electricity and the Government is committed to provide electricity access to total population in the minimum possible time.
2. Strong and increasing Demand for Electricity Demand has outstripped supply of electricity; the country is currently facing power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), clearly indicates the fundamental need for enhancing the country’s current power generation capability.
3. World-Renowned Companies Already Operating in Pakistan Presently, sixteen Independent Power Producers (IPPs) are operating in the country. Thus, world-renowned power sector players are already present in the market, e.g. Siemens, General Electric, AES, International Power, El Paso, Tenaska.
4. IPPs under Construction A t least ten IPPs with a capacity of 2,200 MW have achieved Financial Close and started project construction after getting approval of tariff from NEPRA-through a well-defined process of tariff approval that includes public hearing. These IPPs are sponsored by local as well foreign investors.
5. GoP’s Policy Commitment to Increase Private Sector Participation Presently, approximately 40% of generation capacity of the country is in private sector, and another 2,200 MW IPPs are under construction. The successive governments in the country have reiterated the commitment to increase private sector participation. Consequently, major divestments of public sector units have been made in various sectors while no thermal generation capacity has been added in the public sector since the early 90’s.
6. Transparent Regulatory EnvironmentThe National Electric Power Regulatory Authority (NEPRA) has been setup for the regulation of power sector in Pakistan; in order to balance the interests of consumers and power sector companies. NEPRA has made considerable progress towards the development of the regulatory regime and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations laid down by the regulator for reliable and efficient operation of the power sector.
7. One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last one decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
8. Availability of GOP’s Guarantees GOP guarantees the performance obligations of its entities such as the power purchaser, and the provinces. GOP also provides protection to sponsors and lenders in case of termination of the project.
9. Predictable Multi-Year & Long-Term Tariff tpically, a long-term tariff of 25 – 30 years is contracted with the power purchaser. The IPPs, thus, are not subjected to market risk for their output. The projects are expected to earn an attractive / competitive and stable return on investment.
10. Standardized Security Package Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA), etc. – are available upfront.
11. Pass-through of Fuel Cost and Additional Taxation Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is liable to be passed on to the power purchaser.
12. Risk Coverage for Exchange Rate Variation To cover the exchange rate variations risk, the various tariff components are indexed for variation in the Pak Rupee and US$ exchange rates.
13. Protection against change in Duties & Taxes and Political Risks GOP guarantees protection against any change in duties and taxes, and against specified “political risks”.
14. Income Tax Exemption Exemption from income tax, including turnover rate tax and withholding tax on import, is available to private power generation projects.
15. Abundant Hydel / Coal Potential There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country. The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tonnes.
16. Power Purchaser to bear Hydrological Risk For hydropower projects, hydrological risk is to be borne by the power purchaser.
17. Availability of Skilled Manpower Good quality and cost-effective technical manpower is available in Pakistan.
18 Availability of Financing Banks are keen to lend to the power sector due to lower risk profile and GoP’s guarantee for power purchaser and the provinces.
www.bgmocorp.com
ISLAMABAD, Mar 26 (APP): US President Barack Obama on Thursday called President Asif Ali Zardari and discussed bilateral relations, situation in the region as well as other matters of mutual interest.
During the telephonic conversation, the two leaders also discussed the matters relating to fight against militancy, with particular reference to peace in the region.
President Obama and President Zardari also talked about the “Friends of Democratic Pakistan Forum” initiative, aimed at promoting and strengthening democracy in Pakistan.
Govt. committed to resolve power shortage problem: Zardari
QUETTA, Mar 26 (APP): President Asif Ali Zardari said on Thursday that the government was implementing a number of short and long term plans to overcome power shortage in the country. Talking to a delegation of Quetta Chamber of Commerce here Thursday, he said the government is committed to resolve the power crisis and implementing various plans for balancing the demand and supply of electricity.
Highlights of Coal Project 544 MW Bringing Clean Energy to Pakistan
* 544 MW PROJECT APPROVED BY MINISTRY OF WATER & POWER GOVERMENT OF PAKISTAN
* 60 MILLION DOLLARS UPFRONT PAYMENT GUARANTEE FROM GOVERMENT OF PAKISTAN UPON BERGAMO ACQUISITION CORP’S ABILITY TO COMPLETE FINANCING REQUIRED 420 MILLION US DOLLARS TO COMPLETE THE PROJECT.
* 416 MILLION US DOLLARS STANDBY L/C TO BE ISSUED BY GOVERMENT OF PAKISTAN CLASS A BANK TO SECURE FUTURE ENERGY SALES . THIS L/C TO BE RENEWED FOR ADDITIONAL 24 MONTHS AND SUBSEQUENT 1 YEAR TO COMPLETE TERM OF THE POWER PURCHASE AGREEMENT.
* 191 MILLION US DOLLARS FUEL COMPONENT PLEASE REVIEW POWER PURCHASE AGREEMENT COMPLETE DISCRIPTION OF EPC CONTRACT AND POWER PURCHASE AGREEMENT IS IN THE POWER POINT PRESENTATION
* 200 ACRES LAND IN PLACE WITH GRID LINE ENERGY DISTRIBUTION, COAL MINING, NEXT TO THE SINDH SEA, ROADS ALREADY DEVOLOPED AND GOVERMENT WILL BUILD LAKE ON GOVERMENTS EXPENSE AT THE SITE. COMPLETE IDENTIFICATION OF PROJECT IS AVAILABLE UPON REQUEST.
* MEMORANDUM OF UNDERSTANDING SIGNED WITH ARIF HABIB BANK LTS WHO WILL BE INVESTMENT BANK IN PAKSITAN AND INVESTMENT ADVISORS.
www.bergamocorp.com
Pakistan eyes $40bn aid from donors
* Zardari to attend Friends of Pakistan meeting, donors’ conference in Tokyo
* Govt to seek help in security, infrastructure and energy
By Sajid Chaudhry
ISLAMABAD: Pakistan will seek $40 billion in aid and investment and $6 billion in annual budgetary support over five years during a meeting of the Friends of Pakistan forum and a donors’ conference scheduled in Tokyo on April 17, sources told Daily Times on Saturday.
President Asif Ali Zardari will represent Pakistan during the meetings. Bilateral and multilateral donors will make pledges the same day.
Zardari to chair FODP ministerial meeting going to be held on 17th April in Tokyo
ISLAMABAD: President Zardari would be chairing the Friends of Democratic Pakistan Forum (FODP) Ministerial Meeting and the Donors Conference, to be held back-to-back in Tokyo on 17 April 2009.
The Donors Conference will be co-hosted by Japan and the World Bank and the FODP meeting will be chaired by Pakistan.
According to a press release issued here on Tuesday, an Experts’ Meeting will take place in Abu Dhabi on 1-2 April followed by a Senior Officials Meeting (SOM) in Tokyo on 16 April in order to finalize recommendations for the FODP Ministerial Meeting.
The initiative demonstrates political and economic support of the ’Friends’ for the democratic government of Pakistan.
The ’Friends’ recognize the need for building strategic partnerships with the Government of Pakistan to promote economic development and financial stability, address its energy needs, build institutions and bring peace and stability to the region.
The initiative signifies that ’The Friends’ stand shoulder to shoulder with Pakistan in its journey to build a strong, prosperous and progressive country.
Furthermore, a well-coordinated international approach is required to address challenges faced by Pakistan. Economic stability and implementing Pakistan’s development agenda is essential for the success of countering terrorism and extremism.
Earlier, a briefing was held for the Heads of Mission of FODP countries in the Foreign Ministry on Tuesday.
The meeting was chaired by Foreign Secretary Salman Bashir. The representatives of World Bank, UN, UNDP, ADB, IDB and IMF attended the meeting. Senator Sughra Imam, Secretaries Finance, EAD, Interior, Planning, Water & Power were also present in the meeting and briefed the envoys on Pakistan’s development needs and priorities.
1 Billion Potential Viewers
Regional Television Distribution
Air Regionally within the Top 200+ Television Markets
• CNBC: 84 Million Potential Cable Households to 200+ Regional Television Markets
• FOX Business Network: 45 Million Potential Cable Households to 60+ Regional Television Markets
• Television Affiliates: Millions of Potential Television Households to 27 Local and University Networks
• Asia Television: 1.9 Million Potential Television Households
• Canada: 2 Million Potential Television Households
CNBC (as paid programming) - #1 Business Network
As the recognized global leader in business news, CNBC reaches stronger concentrations of upscale households and adult demographics than any other network, broadcast or cable.
* 84 Million Potential TV Households
* Carried on all DirecTV and Dish Network venues
Fox Business Network (as paid programming)
Fox Business Network was the largest launch in US cable history with all programming available in High Definition.
* 45 Million Potential Cable Households
* Airs on DirecTV
Internet Television
21st Century Business broadcasts to over 650 million viewers via YouTube, iTunes Podcast, MSN Video, Yahoo! Video and many more.
AS many times as it takes for you MORONS to get it.
The Award Winning Producers of 21st Century Business are pleased to announce that Bergamo E & A Corporation a Wholly Owned Subsidiary of Bergamo Acquisition Corp will be featured on 21st Century Business Boca Raton, FL (TBD) --- Multi-Media Productions (USA), Inc. announces that Bergamo E&A Corp
(otc: BGMO). will be featured on 21st Century Business.
(EMAILWIRE.COM, March 17, 2009 ) The increased energy supply demand is global in reach and response from America’s developmental energy groups is rising to meet these demands. Opportunity to tap into the technology resources of American companies has opened a substantial global market. Being in the forefront of alternative energy development and technology is a key export that will enable American companies to experience significant growth opportunities now and well into the future.
Bergamo Acquisition Corporation has considered the accelerating overseas demand for energy, whether in traditional energy source materials or with alternative energy developments. This demand in global energy needs is driving a new wave of growth and profitability for American alternative energy companies. Responding to this growing market demand and potential, Bergamo Acquisition Corporation has created Bergamo E&A Corp, The vision of the company is to explore and develop all opportunities associated with alternative clean energy sources.
Jay Crosby, Sr. Coordinating Producer at Multi Media Productions, added, “Bergamo Energy and their alternative energy development is an exciting company with a unique mission. We are excited to have them as a guest on our program.”
About 21st Century Business
21st Century Business airs on CNBC (as paid programming) and the Fox Business Network (as paid programming). 21st Century Business may also be viewed through video on demand via www.21cbtv.com. The 21CBTV Series is also available at more than 90 prestigious college universities, including Carnegie Mellon University, Howard University, Dartmouth College and Georgetown University.
For specific market-by-market air dates and times, please click here or e-mail Moniqueh@mmpusa.com. For more information, please visit www.21cbtv.com.
Highlights of Coal Project 544 MW Bringing Clean Energy to Pakistan
* 544 MW PROJECT APPROVED BY MINISTRY OF WATER & POWER GOVERMENT OF PAKISTAN
* 60 MILLION DOLLARS UPFRONT PAYMENT GUARANTEE FROM GOVERMENT OF PAKISTAN UPON BERGAMO ACQUISITION CORP’S ABILITY TO COMPLETE FINANCING REQUIRED 420 MILLION US DOLLARS TO COMPLETE THE PROJECT.
* 416 MILLION US DOLLARS STANDBY L/C TO BE ISSUED BY GOVERMENT OF PAKISTAN CLASS A BANK TO SECURE FUTURE ENERGY SALES . THIS L/C TO BE RENEWED FOR ADDITIONAL 24 MONTHS AND SUBSEQUENT 1 YEAR TO COMPLETE TERM OF THE POWER PURCHASE AGREEMENT.
* 191 MILLION US DOLLARS FUEL COMPONENT PLEASE REVIEW POWER PURCHASE AGREEMENT COMPLETE DISCRIPTION OF EPC CONTRACT AND POWER PURCHASE AGREEMENT IS IN THE POWER POINT PRESENTATION
* 200 ACRES LAND IN PLACE WITH GRID LINE ENERGY DISTRIBUTION, COAL MINING, NEXT TO THE SINDH SEA, ROADS ALREADY DEVOLOPED AND GOVERMENT WILL BUILD LAKE ON GOVERMENTS EXPENSE AT THE SITE. COMPLETE IDENTIFICATION OF PROJECT IS AVAILABLE UPON REQUEST.
* MEMORANDUM OF UNDERSTANDING SIGNED WITH ARIF HABIB BANK LTS WHO WILL BE INVESTMENT BANK IN PAKSITAN AND INVESTMENT ADVISORS.
Do your own due diligence before innvesting in Bergamo or any other stock do not listen to posts on this website or any other website most people have hidden agendas, for infomation on Bergamo go to www.bergamocorp.com.
Quote He invests in the worst kind of stock one can invest ...in a lousy pinksheet
Aston has been caught in another lie,he has posted he is long Bergamo and then makes comments like this.
It has become increasingly obvious he has a hidden agenda,my guess is paid basher from someone who is short the stock and starting to get very nervous as Bergamo starts to develop there energy story in Pakistan.
Bergamo's energy projects are at very early stages. Why would bergamo need audited financial statements at this time,when the projects are financed then we will see audited statements.
And when that happens the stock will not trade at 5 cents it will trade at $5.00 dollars.
If you did any due diligence at all,you would not be asking the same stupid questions.
It has taken less then 24 hours for aston to make some of the stupdidest and most baseless comments he has ever posted on this website.
Quote I like the funny photo gallery showing numberless faces of politicians of Pakistan
These photoes inclued three of the most powerfull people in Pakistan, President Asif Zardari,Prime Minister Syed Yousuf Raza Gilani and opposition leader and PML-N chief Nawaz Sharif all posing for pictures with Hillard and other officers of Bergamo.Next time aston, you get to take a photo with Obama, Biden, or Mclean you can post it here.
As Cramer would say aston you know nothing.The reason why Bergamo has billions of dollars of Goverment backed contracts and power purchase agreements is thier connections to the most powerfull politicians in Pakistan,and that is what Bergamo is about now,Energy in Pakistan.
Aston you have lost all credibility with any readers on this site and none of your comments should be taken seriously.
To all investors or potential investors please do your own duedillegents before making any investment in this stock or any stock,there is alot of information on Bergamo at www.bergamocorp.com
Awesome!!! What a great looking website,that better reflects the direction of BGMO.
Kudos to Hillard and his staff,alot of very positive things are starting to happen for Bergamo and bergamo shareholders.
Just wondering how long it will take for aston to make his bashing comments
Pakistan Energy Policy Enables Energy Suppliers to Procure financing on reasonable terms with G8 Bank guarantees.
Pakistan Goverment has following policy for Energy Projects and is signing agreements with energy suppliers all over the world.
a) Rental Agreements 5 years with 2 years extention.
b) If the Cost of Project is 400 million dollars. The Goverment of Pakistan provides the following upon your financing ability.
1. 7% of the total cost of the project which equals 60 million us dollars this is upfront payment upon proof of complete financing.
2. 400 million dollars additional letter of credit from G8 AAA rated bank to draw down monthly energy billing.Every 24 months the new L/C for 400 million is issued to cover energy billing.
3. 190 Million Dollars is fuel component.
4. Land around 200 acres is alloted at Goverment price to set up projects.
5. There is no restriction to transfer your profits out of the country.
6. Tax Beneifits.
7. Pakistan Goverment is seeking proposals from various energy providers to submit their proposals.
Energy is the 1st priority for Goverment of Pakistan. The President of Pakistan is focused on energy issue.
400 Million potential viewers
Regional Television Distribution
Air Regionally within the Top 200+ Television Markets
• CNBC: 84 Million Potential Cable Households to 200+ Regional Television Markets
• FOX Business Network: 45 Million Potential Cable Households to 60+ Regional Television Markets
• Television Affiliates: Millions of Potential Television Households to 27 Local and University Networks
• Asia Television: 1.9 Million Potential Television Households
• Canada: 2 Million Potential Television Households
CNBC (as paid programming) - #1 Business Network
As the recognized global leader in business news, CNBC reaches stronger concentrations of upscale households and adult demographics than any other network, broadcast or cable.
* 84 Million Potential TV Households
* Carried on all DirecTV and Dish Network venues
Fox Business Network (as paid programming)
Fox Business Network was the largest launch in US cable history with all programming available in High Definition.
* 45 Million Potential Cable Households
* Airs on DirecTV
Internet Television
21st Century Business broadcasts to over 650 million viewers via YouTube, iTunes Podcast, MSN Video, Yahoo! Video and many more.
You can watch some TV,when you get drunk
The Award Winning Producers of 21st Century Business are pleased to announce that Bergamo E & A Corporation a Wholly Owned Subsidiary of Bergamo Acquisition Corp will be featured on 21st Century Business Boca Raton, FL (TBD) --- Multi-Media Productions (USA), Inc. announces that Bergamo E&A Corp
(otc: BGMO). will be featured on 21st Century Business.
(EMAILWIRE.COM, March 17, 2009 ) The increased energy supply demand is global in reach and response from America’s developmental energy groups is rising to meet these demands. Opportunity to tap into the technology resources of American companies has opened a substantial global market. Being in the forefront of alternative energy development and technology is a key export that will enable American companies to experience significant growth opportunities now and well into the future.
Bergamo Acquisition Corporation has considered the accelerating overseas demand for energy, whether in traditional energy source materials or with alternative energy developments. This demand in global energy needs is driving a new wave of growth and profitability for American alternative energy companies. Responding to this growing market demand and potential, Bergamo Acquisition Corporation has created Bergamo E&A Corp, The vision of the company is to explore and develop all opportunities associated with alternative clean energy sources.
Jay Crosby, Sr. Coordinating Producer at Multi Media Productions, added, “Bergamo Energy and their alternative energy development is an exciting company with a unique mission. We are excited to have them as a guest on our program.”
About 21st Century Business
21st Century Business airs on CNBC (as paid programming) and the Fox Business Network (as paid programming). 21st Century Business may also be viewed through video on demand via www.21cbtv.com. The 21CBTV Series is also available at more than 90 prestigious college universities, including Carnegie Mellon University, Howard University, Dartmouth College and Georgetown University.
For specific market-by-market air dates and times, please click here or e-mail Moniqueh@mmpusa.com. For more information, please visit www.21cbtv.com.
Sounds like you have been in the jack daniels again tonight,sold is spelled with a D not a F
You have lost all credibility here all you post here are lies,you could not run the coner lemonade stand, never mind a public company YOU LOSER!!!!LOL!!!
But you are a IDOT,and your short postion is about to get squeezed.
WOW BGMO is going to be on CNBC
Congrdulations to Hillard and his staff for this great accomplishment,this will give BGMO the exposure that it deserves
Pakistan Energy Policy Enables Energy Suppliers to Procure financing on reasonable terms with G8 Bank guarantees.
Pakistan Goverment has following policy for Energy Projects and is signing agreements with energy suppliers all over the world.
a) Rental Agreements 5 years with 2 years extention.
b) If the Cost of Project is 400 million dollars. The Goverment of Pakistan provides the following upon your financing ability.
1. 7% of the total cost of the project which equals 60 million us dollars this is upfront payment upon proof of complete financing.
2. 400 million dollars additional letter of credit from G8 AAA rated bank to draw down monthly energy billing.Every 24 months the new L/C for 400 million is issued to cover energy billing.
3. 190 Million Dollars is fuel component.
4. Land around 200 acres is alloted at Goverment price to set up projects.
5. There is no restriction to transfer your profits out of the country.
6. Tax Beneifits.
7. Pakistan Goverment is seeking proposals from various energy providers to submit their proposals.
Energy is the 1st priority for Goverment of Pakistan. The President of Pakistan is focused on energy issue.