The syndicated term loan closing ceremony of raising USD 50 million and BDT 3,900 million for Kushiara Power Company Limited of Max Group was held at The Westin Dhaka on 25 April 2019. IDCOL is the Lead Arranger for this syndicated financing facility. Financiers to this transaction include IDCOL, Pubali Bank Limited, and NCC Bank Limited. Dr. Tawfiq-e-Elahi Chowdhury, Energy Adviser to the Hon'ble Prime Minister was the Chief Guest of the ceremony while Mr. Manmohan Parkash, Country Director – Bangladesh Resident Mission, Asian Development Bank, was the Special Guest.
Kushiara Power Company Limited, a concern of Max Group, is a 163 MW natural gas fired combined cycle power plant located at Fenchuganj, Sylhet. Mr. Engr. Ghulam Mohammed Alomgir, Chairman, Mahmud Us Samad Chowdhury, MP, Nizam Chowdhury and Mohammed Zulkernine, directors of Kushiara Power Company Limited; Mr. Mahmood Malik, Executive Director & CEO, IDCOL; Mr. M.A. Halim Chowdhury, Managing Director & CEO, Pubali Bank Limited; Mr. Mosleh Uddin Ahmed, Managing Director & CEO, NCC Bank Limited; senior officials from other banks & FIs, government agencies and development partners were also present in the occasion.
IDCOL, the largest energy and infrastructure financier of the country, has already financed power projects supplying more than 2,000 MW to the national grid. IDCOL looks forward to investing additional USD 1 billion by 2021 for development of priority infrastructure projects in Bangladesh.