Confidence Group and IDCOL signs MoU to raise 135 million USD for establishing fuel power plants

Confidence Power Bogra Limited, Confidence Power Rangpur Limited, and Zodiac Power Chittagong Limited will establish the said power plants at an estimated cost of USD 220 million with brand new European engines from MAN and Rolls-Royce. All power projects are expected to go into commercial operation by 2018.

Recently, Confidence Power Holdings Ltd. signed a Memorandum of Understanding with Infrastructure Development Company Limited (IDCOL), a government-owned financial development institution involved in private sector energy and infrastructure financing in Bangladesh.

To raise USD 135 million term loan facility for the establishment of three HFO fired IPP power plants in Bogra, Rangpur, and Chittagong having a combined capacity of 280 MW. Confidence Power Holdings Ltd. is an associate company of Confidence Cement Ltd. and concern of Confidence Group.

Confidence Power Bogra Limited, Confidence Power Rangpur Limited, and Zodiac Power Chittagong Limited will establish the said power plants at an estimated cost of USD 220 million with brand new European engines from MAN and Rolls-Royce. All power projects are expected to go into commercial operation by 2018.

Khalid Islam, Managing Director of CPHL and Mr. Mahmood Malik, Executive Director & CEO of IDCOL has signed the MoU on behalf of their respective organizations for the arrangement of the term loan worth USD 135 million. Engr. Rezaul Karim, Chairman of Confidence Group and other officials of Confidence Group and IDCOL were present to grace the signing ceremony.

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This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
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