Dhaka, Bangladesh (BBN) - ECPV Chittagong Limited (ECPVCL) has mandated IDLC Finance Limited and Infrastructure Development Company Limited (IDCOL) as joint arrangers to raise a US$ 45 million Term Loan facility in USD and BDT to set up a 108 MW HFO based power plant at Chittagong.
With a project cost of US$ 93.00 million (BDT 7,000 million approx.), the ECPVCL, , a joint venture of the Confidence and Energypac Groups, will be established at Patenga, Chittagong on Built, Own and Operate (BOO) basis for a term of 15 years.
The power plant will use Rolls Royce liquid fuel engines and is expected to go into commercial operation by November 2012.
Imran Karim, Managing Director ECPVCL , Islam Sharif, Executive Director & CEO of IDCOL and Selim R F Hussain, CEO & Managing Director of IDLC; together signed an agreement for the fund arrangement on behalf of their respective companies.
The Chairman of Confidence Cement, Rezaul Karim and Rezwanul Kabeer, Director of Energypac Power Generation Limited were also present to grace the occasion. M. Jamal Uddin, Head of Corporate, Mesbah Uddin Ahmed, Head of Structured Finance of IDLC, Nazmul Haque, Director & Head of Investment of IDCOL and other senior officials from the concerned companies also attended the ceremony.
BBN/SSR/AD-16Oct11-3:19 pm (BST)