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Confidence Group, IDCOL signs MoU to raise $135m for establishing fuel power plants

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Khalid Islam, Managing Director of Confidence Power Holdings Limited and Mahmood Malik, CEO of Infrastructure Development Company Limited (IDCOL), exchanging a MoU signing documents for the term loan worth $135m in the city recently. Top officials from bo

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08th-Dec-2017       
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Business Desk :
Confidence Power Holdings Limited (CPHL) recently 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 $135 million term loan facility for establishment of three HFO fired IPP power plants in Bogra, Rangpur and Chittagong having combined capacity of 280 MW. Confidence Power Holdings Limited is an associate company of Confidence Cement Limited and concern of Confidence Group, said a press release.
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 Mahmood Malik, Executive Director and CEO of IDCOL has signed the MoU on behalf of their respective organizations for the arrangement of the term loan worth $135 million. Engr. Rezaul Karim, Chairman and other officials of Confidence Group and IDCOL were also present.

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