Three power generation companies will amalgamate with their parent company United Power Generation & Distribution Co Ltd (UPGDCL).

An amalgamation is a combination of two or more companies into a new entity.

In a filing on the Dhaka Stock Exchange today, UPGDCL said the board had approved the scheme of amalgamation.

The three power generation companies are United Anwara Power Ltd, United Energy Ltd, and United Jamalpur Power Ltd.

After the amalgamation, UPGDCL will be the surviving entity, said the filing.

The approval is subject to the sanction of the High Court and the consent of banks and other creditors.

United Energy Ltd in Sylhet has a generation capacity of 28 megawatts while United Jamalpur has a generation capacity of 115 MW and United Anwara Power of 300 MW, according to UPGDCL. 

An independent power generation and distribution company, UPGDCL has several power plants with a combined installed electricity generation capacity of 899 megawatts