IDCOL has signed loan agreement for setting up four gas-based power plants by two subsidiaries of Summit Power Limited (SPL) with capacities of 33 MW each at Jangalia in Comilla, Rupgonj in Narayangonj, Maona in Gazipur and 11 MW at Ullapara, Sirajgonj. Under the wing of SPL, Summit Purbanchol Power Company Limited (SPPCL) will operate the power plants at Jangalia and Rupgonj and Summit Uttaranchol Power Company Limited (SUPCL) will operate plants located at Maona and Ullapara on Build-Own-Operate (BOO) basis. IDCOL will finance BDT 600 million under the syndication facility of BDT 3,955 million. IIDFC acted as an arranger for this project. Other participants were Bank Asia,NCC Bank Limited, Pubali Bank Limited, United Commercial Bank Limited, Mercantile Bank Limited, BIFC, SABINCO and Uttara Finance Limited. The power plants are expected to sell electricity to Bangladesh Power Development Board (BPDB) and Rural electrification Board (REB).