Signs $112mn credit for 100MW power plant

Francois de Maricourt, Chief Executive Officer, HSBC Bangladesh, and Md Shahinul Islam Khan, Chairman, BPDB, exchange documents after signing an agreement at a ceremony in Dhaka recently.

Bangladesh Power Development Board (BPDB) has recently signed agreements for $112 million ECA (Export Credit Agency) backed credit facilities to support construction of a 100MW HFO-based power plant in Chapainawabganj in the country.
Francois de Maricourt, Chief Executive Officer, HSBC Bangladesh, Md Shahinul Islam Khan, Chairman, BPDB, Board Members of BPDB and senior officials from both the organisations were present at the signing ceremony.
The Hong Kong and Shanghai Banking Corporation Limited (HSBC) is acting as the mandated lead arranger of this credit facility. BPDB is responsible for major portion of generation and distribution of electricity mainly in urban areas except Dhaka and west zone of the country.
The Board is under the Power Division of the Ministry of Power, Energy and Mineral Resources, Government of Bangladesh.
HSBC has previously arranged financing for BPDB and its subsidiaries to implement two other important power projects in Bangladesh.