Large & Medium Infrastructure Projects

Environmental and social safeguard compliance of 52 MW dual fuel (natural gas and HFO) based power plant of Lakdhanavi Bangla Power Limited

Lakdhanavi Bangla Power Limited (LBPL) has been awarded to design, engineer, manufacture, finance, construct, complete, permit, test, commission, insure, own, operate and maintain a 52 MW Power Plant having to generate and supply electricity to Bangladesh Power Development Board (BPDB) for a period of 15 years as an Independent Power Plant (IPP). Considering the importance of the project to meet the power demand, Infrastructure Development Company Limited (IDCOL) along with some other multilateral financial institutions is considering to finance the project.

According to the Environmental Conservation Rules, 1997 of Bangladesh Government, industrial projects in Bangladesh have been categorized into four classes—Green, Amber A, Amber B and Red. Considering the magnitude of generating pollution, power plant project has been classified as Red Category project. So, LBPL project has fallen into Red category. According to the Safeguard Policy statement, 2009 of Asian Development Bank (ADB), power plant project of about 52 MW capacity falls into category B due to the localized impact. As a part of environmental compliance, there is a requirement for preparation of an Environmental Impact Assessment (EIA) according to ECR, 1997 of Department of Environment (DOE) and Initial Environmental Examination (IEE) report according to SPS, 2009 of ADB. The content of IEE of ADB is almost similar to EIA of DOE, except the public consultation aspects as is required by ADB. LBPL has already engaged Bangladesh Centre for Advanced Studies (BCAS) to prepare the IEE according to the requirement of ADB as well as the DOE.

NOx, SOx, noise and lube oil are the main issues to consider from environmental pollution perspective of the said power plants. As a guiding standard, LBPL has to comply with the national standards of Bangladesh. Where national standards are not available, LBPL has to comply with the best practices like ‘Environmental, Health and Safety Guidelines of IFC’.

IDCOL is careful about maintaining environmental and social safeguards. It encourages all, having any complain or observation regarding any matter of the Projects, to contact IDCOL management.

For the Environmental Impact Assessment Report please click on the link below:

Environmental and social safeguard compliance of 108 MW gas fired power plant of Regent Energy and Power Limited

Regent Energy and Power Limited (REPL) has been awarded to design, engineer, manufacture, finance, construct, complete, permit, test, commission, insure, own, operate and maintain a 108 MW Gas Fired Power Plant to generate and supply electricity to Bangladesh Power Development Board (BPDB) for a period of 15 years as an Independent Power Plant (IPP). Considering the importance of the project to meet the power demand, The City Bank Limited (the arranger) along with Infrastructure Development Company Limited (IDCOL) and other multilateral financial institutions is considering to finance the aforesaid power project.

According to the Environmental Conservation Rules, 1997 of Bangladesh Government, industrial projects in Bangladesh have been categorized into four classes—Green, Amber A, Amber B and Red. Considering the magnitude of generating pollution, power plant project has been classified as Red Category project. So, REPL project has fallen into Red category. According to the Safeguard Policy statement, 2009 of Asian Development Bank (ADB), power plant projects of about 100 MW capacity fall into category B due to the localized impact. As a part of environmental compliance, there is a requirement for preparation of an Environmental Impact Assessment (EIA) according to ECR, 1997 of Department of Environment (DOE) and Initial Environmental Examination (IEE) report according to SPS, 2009 of ADB. The content of IEE of ADB is almost similar to EIA of DOE, except the public consultation aspects as is required by ADB. The REPL has informed that they have already engaged Adroit Environment Consultants Limited (AECL) to prepare the IEE according to the requirement of ADB.

NOx, noise and lube oil are the main issues to consider from environmental pollution perspective of the said power plants. As a guiding standard, RREL has to comply with the national standards of Bangladesh. Where national standards are not available, RREL has to comply with the best practices like ‘Environmental, Health and Safety Guidelines of IFC’.

IDCOL is careful about maintaining environmental and social safeguards. It encourages all, having any complain or observation regarding any matter of the Projects, to contact IDCOL management.

For the Environmental Impact Assessment Report please click on the link below:

Summit Meghnaghat 305-335 MW Power Plant Project

Energypac confidence 100 MW HFO Power Project

Bibiyana I & II Gas Power Project

  • Project Summary

    • 105 MW power plant project at Noapara, Jessore and 110 MW power plant project at Bheramara, Kushtia implemented by Quantum Power Systems Limited

    Quantum Power Systems Limited (QPSL) has been awarded to develop and operate two rental power plant projects through a competitive bidding process. Among them, one power plant with capacity of 105 MW will be established at Noapara, Jessore and the other one with capacity of 110 MW will be established at Bheramara, Kushtia. For financial assistance, QPSL has approached to IDCOL .Considering the importance of the project to meet the power demand, IDCOL has agreed to provide financial support through a syndicated arrangement.

    According to the Environmental Conservation Rules, 1997 of Bangladesh Government, industrial projects in Bangladesh have been categorized into four classes—Green, Amber A, Amber B and Red. Considering the magnitude of generating pollution, power plant project has been classified as Red Category project. So, QPSL project has fallen into Red category. According to the ADB guidelines, power plant projects of similar capacity fall into category B. As a part of environmental compliance, there is a requirement for preparation of an Initial Environmental Examination (IEE) report. Accordingly, a IEE report has been prepared based on the guidelines of ADB.

    SOx, noise and lube oil are the main issues to consider from environmental pollution perspective of diesel / furnace oil based power plants. As a guiding standard, QPSL has to comply with the national standards of Bangladesh. Where national standards are not available, QPSL has to comply with the best practices like ‘Environmental, Health and Safety Guidelines of IFC’.

    According to the agreement signed between Bangladesh Power Development Board (BPDB) and QPSL, BPDB has taken the full responsibility to provide required land. As a part of IEE, public consultation was accomplished in both sites. Along with other relevant issues, the IEE team also tried to find any land related dispute. But there was no dispute on land. Moreover, most of the respondents showed positive response for the Project due to the high demand of power. But they requested to the concerned authority that the generated power should at first be used to meet the demand of local locality. Then the remaining power can be supplied to other regions through national grid.

    IDCOL is very careful about maintaining environmental and social safeguards. It encourages all, having any complain or observation regarding any matter of the Projects, to contact IDCOL management.

     

    Central Effluent Treatment Plant at Chittagong

    IDCOL played the role of arranger in the Central effluent treatment plant at Chittagong Export Processing Zone (CEPZ). To minimize the ongoing environmental hazards created by the industries, ensure efficient land utilization and reduce capital as well as operating costs of individual industries, IDCOL has decided to participate in the initiatives taken by BEPZA. The project cost is BDT 256 million and has the capacity to treat 15000 m³ of effluent per day, which can be increased up to 45000 m³ per day . Under the Term Loan facility IDCOL has approved an amount of BDT 100 million to finance the project.

    Orascom Bond Loan

    IDCOL has invested BDT 1,000 million in issuance of senior, secured and coupon bearing bonds by Orascom Telecom Bangladesh Limited (OTBL) with an aggregate value of up to 4,250 million on a private placement basis to the potential domestic institutional investors in Bangladesh for terms up to 4 and a half years. OTBL expects to expand and upgrade its network coverage and telecommunication services continually and has a plan of capital investments of BDT 52,992 million over next three years. As part of its 2009-10 capital expenditure plan, OTBL targeted to issue the bonds to raise the required fund to support its network expansion.

    Nationwide Telecommunication Transmission Network (NTTN)

    IDCOL has signed a loan agreement with Fiber@Home Limited for setting up and operating of a Nationwide Telecommunication Transmission Network (NTTN) using fiber optic technology. The Project is expected to provide dedicated voice and data connectivity to the ANS operators, Internet Service Providers (ISPs) and other authorized users across the country. IDCOL has approved an amount BDT 200 million under the syndicated term loan facility. AB Bank Limited, the lead arranger of the proposed syndicated debt facility. Other participants are SABINCO, Shahjalal Islami Bank Limited United Commercial Bank Limited and IDLC.

    Bangla Trac Communications Limited

    IDCOL has financed a project of USD 3 million (equivalent to BDT 207 million) that involves setting up of an International Gateway (IGW) by Bangla Trac Communications Limited (BTCL) with capacity of handling 20,000 concurrent calls at a time. The International Gateway License enables BTCL to act as one of the four licensed operators who will route incoming and outgoing international calls to and from Bangladesh. Other participant of the term loan is Brac Bank with a contribution of BDT 250 million.

    Barakatullah Electro Dynamics Limited

    IDCOL has been mandated to act as the lead arranger to raise BDT 1,250 million as term loan facility for setting up a rental power plant by Barakatullah Electro Dynamics Limited (BEDL) with a capacity of 51 MW at Fenchuganj, Sylhet. IDCOL will finance BDT 500 million under the syndication facility. The generated electricity of the project will be sold to Bangladesh Power Development Board (BPDB).

    Grameenphone Bond Loan under Subscription Agreement

    IDCOL has invested BDT 500 million in issuance of unsecured, non convertible and coupon bearing bonds in two tranches by Grameen Phone Limited with an aggregate value of up to 4,125 million on a private placement basis to the potential domestic institutional investors in Bangladesh for terms up to 2 years. The purpose of the issuance is to paying off some of the existing short-term debts of GPL and expansion of its network.

    Venture Energy Resources Limited

    IDCOL has signed loan agreement for setting up four gas-based power plants by Venture Energy Resources Limited (VERL) for setting up a rental power plant with a capacity of 34.5 MW at Bhola and operating it on Build-Own-Operate (BOO) basis for a term of 3 years. IDCOL will finance BDT 200 million under the syndication facility of BDT 920 million. AB Bank acted as an arranger for this project. Other participants were Bank SABINCO, Bangladesh Commerce Bank Limited, Mutual Trust Bank Limited and Uttara Bank Limited. The generated electricity by the project will be sold to Bangladesh Power Development Board (BPDB).

    Summit Uttaranchol Company Limited and Summit Purbanchol Company Limited

    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).

    Thermax Trade Limited

    IDCOL has signed loan agreement with Thermax Trade Limited for setting up a CNG station at Kouchakuri, Mirpur in Gazipur district.

    Banglalion Communications Limited (BCL)

    IDCOL has financed BDT 300 million to Banglalion Communications Limited (BCL) under the syndicated term loan facility of BDT 2,010 million for setting up and operating of a wireless broadband network to provide nationwide Broadband Wireless Access (BWA). BCL is one of the two BWA Services License holders allowing it to introduce the Worldwide Interoperability for Microwave Access (WiMAX) telecommunications technology in Bangladesh. AB Bank Limited, the lead arranger of the proposed syndicated debt facility, has already approved BDT 350 million term loan for the Project. Other participants of this syndication are Mercantile Bank Limited, United Commercial Bank Limited, Standard Bank Limited,Bangladesh Commerce Bank Limited, Agrani Bank Limited, Janata Bank Limited, Sonali Bank Limited, Bank Asia Limited, IFIC Bank Limited, Social Islami Bank Ltd and SABINCO.

    Meghnaghat 450MW Power Project

    On April 11, 2001, IDCOL achieved financial closing for the $300 million 450 MW Meghnaghat Power Ltd. (formerly AES Meghnaghat LTD.) a combined cycle gas turbine (CCGT) power generation facility, for which the sponsors provided $80 million in equity resources. The IDCOL facility, the largest loan ever made by a Bangladesh financial institution, breaks into two tranches: a 16-year $20 million senior facility and a 23-year $60 million subordinated facility. The two-tranche IDCOL loan should result in the following benefits, namely:

    • Leveraging almost $3 in third-party money for every dollar lent;
    • Interest earned by GOB over the course of 23 years anticipated to exceed $91 million;
    • Fee income amounting to more than US$1 million; with
    • Repayments received from the project over loan life deposited in Bangladesh Bank, rather than remitted abroad--as would have been the case had an external lender substituted for IDCOL.

    Grameenphone Network Expansion Project

    IDCOL has provided Tk. 12.50 crore to Grameenphone Ltd. (GP) for expansion of the latter's existing telecommunication network.

    The expansion is being financed by a syndicate of lenders. Total BDT 200 crore has been arranged under the loan facility agreement. Standard Chartered Bank acted as lead arranger of this syndicated loan. Other major participants were Agrani Bank, Bank Asia, Citibank NA, IFIC Bank, Jamuna Bank, National Bank, Pubali Bank, SABINCO, Sonali Bank, Standard Bank, Trust Bank, The City Bank, United Commercial Bank and Uttara Bank.

    Ranks Telecom Project

    IDCOL has signed Loan Agreements with Ranks Telecom Limited for expansion of the latters existing wireless fixed line telephone network (PSTN project). The Signing Ceremony was held at a function in Dhaka on 15 February 2007. The proposed expansion is aimed at expanding existing subscriber capacity from 120,000 to 360,000. Based on CDMA 20001x technology, the project is expected to setup necessary infrastructure facilities in four zones namely north east, North West, south east, south west of Bangladesh excluding Dhaka central zone.

    The expansion is being financed by a syndicate of lenders. Total BDT 1.01 billion has been arranged under the loan facility agreement. Infrastructure and Industrial Development Finance Company Limited (IIDFC) is the arranger of financing of this project. Other major participants were National Bank Limited, Uttara Bank Limited, United Commercial Bank Limited, EXIM Bank Limited, Saudi-Bangladesh Industrial and Agricultural Investment Company Limited, Standard Bank Limited, Agrani Bank, Premier Bank Limited, Mercantile Bank Limited and First Security Bank Limited. Under the agreement, IDCOL will provide BDT 50 million term loan to Ranks Telecom Limited.

    PBTL Expansion Project,2004

    The 'Document Signing Ceremony' of the US$ 77.4 million expansion plan of Pacific Bangladesh Telecom Limited (PBTL) was held on 30 November 2004. IDCOL's participation in the project was BDT 260 million equivalent to US$ 4.5 million. Other major participants were Overseas Private Investment Corporation (OPIC), Motorola, Citibank N.A. and a number of local and international commercial banks.

    The project is expected to upgrade PBTL's network technology and add sufficient network capacity (from current 310,000 subscribers to expected 747,636 subscribers) to sustain the company's growth targets till 2006. After implementation of the project, PBTL's nationwide coverage is expected to increase from 51 to 58 districts out of total possible 61 districts and network technology is expected to be upgraded in the busy city centers of Dhaka and Chittagong from CDMA One to CDMA 2000 1X technology.

    DNS SatComm Satellite Earth Station Project

    IDCOL played the role of major loan provider in the DNS Sat Comm Satellite Earth Station project. Total project cost of this project was BDT 166 million. IDCOL Provided 30% of total project cost, which amounts to BDT 49.88 million. Other participants with IDCOL were Prime Bank and Janata Bank.

    The earth station, also referred to as VSAT(Very Small Aperture Terminal) hub station, will be able to provide satellite based domestic and international data connectivity to Asian, Australian and African regions. It will provide clientele services to internet service providers (ISPs), banks, distribution companies, educational institutes and other local and multinational corporate houses at competitive rates through the following communication technology:

    • Time Division Multiple Access (TDMA)
    • Single Channel per Carrier (SCPC)
    • Digital Video Broadcasting (DVB)
    • Internet/VoIP via microwave

    The project site is Located near the entrance to Savar EPZ. The civil construction work of the project was completed on November, 2005 and the project started commercial operation on January, 2006.

    11.6 MW Shah Cement Power Plant Project

    Shah Cement Power Ltd. (SCPL), a concern of Abul Khair Group has developed the 11.6 MW Shah Cement Power Plant Project. The total cost of the Project was Tk.59 crore. IDCOL acted as the arranger of financing, facility agent and security trustee for this Project. Other participants in this syndicated loan facility are BRAC Bank Limited (BBL), Industrial Promotion and Development Company Limited (IPDC), National Housing Finance and Investments Limited (NHFIL) and Saudi-Bangladesh Industrial and Agricultural Investment Company Limited (SABINCO). The Project was financed using modern Project Finance tools and techniques. It is a limited recourse financing where lenders focused primarily on the Project's cash flow and assets as security. The Project has achieved its commercial operation date and is supplying its energy output to Shah Cement Industries Ltd. and Shah Poly Sack Ltd., under a 15-year term Power Purchase Agreement. Titas Gas Transmission and Distribution Company Limited is the supplier of gas to the Project.

    33.75 MW Summit Power Limited Expansion Project

    IDCOL has signed loan agreement with Summit Power Limited for its 33.75 MW expansion plant at Savar, Dhaka. The expansion project is in addition to 11 MW existing facility of Summit. IDCOL will finance BDT 15.33 crore under the syndication facility of BDT 125 crore. Standard Chartered Bank acted as an arranger for this project. Other participants were United Commercial Bank Ltd., IIFC Bank Ltd., BRAC Bank Ltd., National Bank Ltd., SABINCO, NCC Bank Ltd., Premier Bank Ltd., One Bank Ltd. and State Bank of India. Electricity generated from this plant will be supplied to Rural Electrification Board (REB).

    Hilli and Sonamasjid Land port Project

    Bilateral trade between India and Bangladesh is increasing day by day. Import accounts for the major portion of this trade. According to Bangladesh Economic Review FY 2003-04, India is holding the top position in Bangladesh’s country-wise import from 1990-91 to 2003-04 and import volume has been increasing at the rate of 22% per annum. Most of the imported items come thorough the land ports. Due to inadequate security, management and supervision in the port areas, a significant portion of cargo is likely to pass through the ports avoiding formal procedures of the relevant authorities, resulting in loss of government revenue. Therefore, the government, for efficient management of the ports, has decided to develop necessary infrastructures at land port sites and to hand over 11 land ports to the private sector on Build-Own-Transfer (BOT) basis. Bangladesh Land Port Authority (BLPA) was created in 2001 to act as the regulator of all the land ports.

    IDCOL has precipitated as an arranger and facility agent for two land port projects namely Hilli land port and Sonamasjid land port. Hilli land port is situated in Dinajpur and Sonamasjid is located in Chapai Nawabgonj. M/S. Panama Trading was awarded both the Projects to operate on BOT basis for a period of 25 years. The proposed Projects will be developed in two phases, phase-1 leading to Partial Commercial Operation and phase-2 leading to guaranteed full Commercial Operation. IDCOL has been mandated by the Projects’ Sponsors to arrange finance for the 1st phase of both Projects. Estimated project cost for the first phase are BDT 155.91 million and BDT 172.38 million for Hilli land port and Sonamasjid land port respectively. Tenor of the loans for both the Projects will be 5 years. The proposed Projects will be financed based on a debt-equity ratio of 70:30. Other participants in this syndicated loan facility are Janata Bank, Brac Bank, Jamuna Bank, National Credit and Commerce Bank Ltd. The projects are expected to reach partial commercial operation date at the end of August.

    PBTL Expansion Project, 2006

    IDCOL extended BDT 100 million to the network expansion project of Pacific Bangladesh Telecom Limited (PBTL). This is in addition to BDT 260 million term loan extended to PBTL last year. The Signing Ceremony of the New Taka Group Credit Agreement and Amended and Restated Taka Group Credit Agreement was held at Dhaka Sheraton Hotel on 21 June 2006. Total BDT 2144 million has been arranged under the New Taka Group Credit Agreement. Other major participants were Pubali Bank Limited, Prime Bank Limited, the City Bank Limited, Eastern Bank Limited, Premier Bank Limited, Agrani Bank, Dutch-Bangla Bank Limited, Export Import Bank of Bangladesh Limited, Jamuna Bank Limited, Uttara Bank Limited, Citibank, N.A. Dhaka Branch, Saudi-Bangladesh Industrial and Agricultural Investment Company Limited, Bank Asia Limited, and Shahjalal Islami Bank Limited.

    Besides, IDCOL, along with Citibank N.A., has co-arranged USD 30 million Term Loan Facility for the network expansion project of Pacific Bangladesh Telecom Limited (PBTL). An International Dollar Loan Agreement has been signed among PBTL, IDCOL, Citibank N.A., Dhaka branch and Citicorp International Limited. Under this agreement, Citibank N.A., Bahrain Branch and IDCOL will provide USD 20 million and USD 10 million respectively. Citibank N.A., Dhaka branch will act as security agent and account bank while Citicorp International Limited will act as the Inter-creditor Agent.
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