The Seventeenth Annual General Meeting (AGM) of Infrastructure Development Company Limited (IDCOL) was held on 24 November 2014 at The Westin Hotel.
The Seventeenth Annual General Meeting (AGM) of Infrastructure Development Company Limited (IDCOL) was held on 24 November 2014 at The Westin Hotel Dhaka. Mr. Mohammad Mejbahuddin, Chairman, IDCOL and Secretary, Economic Relations Division presided over the meeting. During the FY 2013–2014 Company’s profit before tax and provision was Tk. 269.09 crore which is 36.72% higher than the previous year. The AGM decided to pay Tk. 16 crore as dividend to the Government from the retained earnings of the Company in FY 2013–2014. The shareholders also approved increase of Company’s paid–up capital from Tk. 260 crore to Tk. 385 crore using Tk. 125 crore from the retained earnings in FY 2013–2014. IDCOL is the leading financier of private sector infrastructure projects and renewable energy technologies in Bangladesh.
Mr. Mohammad Mejbahuddin, Chairman, IDCOL and Secretary, ERD (7th from right), Mr. Md. Nazrul Islam Khan, Director, IDCOL and Secretary, Ministry of Education (6th from right), Mr. Monowar Islam ndc, Secretary, Power Division (5th from right), Mr. Mahmood Malik, Executive Director and CEO, IDCOL (4th from right), Dr. Nasiruddin Ahmed, Former Chairman, NBR and Shareholder, IDCOL (8th from right), Mr. Mahbub Ahmed, Director, IDCOL and Senior Secretary, Finance Division (7th from left), Mr. Waliur Rahman Bhuiyan, Director, IDCOL (6th from left) and Mr. Abdul Haque, Director, IDCOL (5th from left) are seen in a picture taken at the 17th AGM of IDCOL.
November 6, 2014
IDCOL Green Energy Expo 2014
A two-day (from 6 November to 8 November 2014) exhibition titled “IDCOL Green Energy Expo - 2014” was held at the Ball Room of the Pan Pacific Sonargaon Hotel, Dhaka showcasing latest renewable energy technologies and activities/ initiatives of key market players.Dr. Mashiur Rahman, Adviser (Economic Affairs) to the Hon’ble Prime Minister, and Dr. Atiur Rahman, Governor, Bangladesh Bank inaugurated the exhibition as the Chief Guest and Special Guest, respectively. The expo organized as part of the celebration of installation of 3 million Solar Home Systems (SHSs) by IDCOL and ended on 8 November 2014.
November 5, 2014
IDCOL celebrates installation of 3 million Solar Home Systems under its Renewable Energy Programs
The Hon’ble Prime Minister Sheikh Hasina MP inaugurated an event marking the celebration of installation of 3 million Solar Home Systems (SHSs) under IDCOL Renewable Energy Programs on 5 November 2014 at Pan Pacific Sonargaon Hotel, Dhaka.Finance Minister Mr. Abul Maal Abdul Muhith, PM’s Adviser Dr. Tawfiq-E-Elahi Chowdhury, State Minister for Power, Energy & Mineral Resources Nasrul Hamid and World Bank country director Mr. Johannes CM Zutt were present as special guests in the event. IDCOL Executive Director and CEO Mr. Mahmood Malik gave the welcome address at the function, chaired by IDCOL chairman and ERD secretary Mohammad Mejbahuddin.
July 14, 2014
IDCOL Hosts Annual Iftar Party 2014
IDCOL hosted an Iftar Mahfil including dinner on 14th July 2014 at RAOWA Convention Hall in honor of its stakeholders. A special prayer was offered seeking peace and prosperity of the country and people. IDCOL board members, dignitaries from various government & bilateral organizations, distinguished guests from various financial & concerned institutions attended the iftar party.
July 5, 2014
IDCOL Speaks at 6th Africa Carbon Forum
Mr. Nazmul Haque, Director (Investment) and Head of Advisory, IDCOL was invited by the World Bank to attend "6th Africa Carbon Forum" held in Windhoek, Namibia from July 2~4, 2014. Mr. Haque spoke in the session titled “Results-Based Financing: Models, Experience and Lessons Learned” and has shared valuable country experience.
July 1, 2014
Bangladesh Receives $78.4 Million to Install an Additional 480,000 Solar Home Systems
The Government of Bangladesh signed a $78.4 million additional financing to further scale-up support for the successful solar home systems (SHS) program of Bangladesh.
IDCOL will provide assistance as the implementation agency.
The project will help install an additional 480,000 solar home systems that has emerged as a viable electrification option for areas without grid access to electricity.
June 19, 2014
IDCOL wins the Karlsruhe Sustainable Finance Award 2014
IDCOL wins the Karlsruhe Sustainable Finance Award 2014 in the category of 'Best Innovation in Sustainable Products and Services' for successful dissemination of solar home systems (SHS) in Bangladesh. IDCOL has been honored for its efforts in applying innovative approaches to promote a low carbon and sustainable economy. Mr. Enamul Karim Pavel, Head of Renewable Energy, IDCOL and Mr. Nazmul Haque, Director (Investment) & Head of Advisory, IDCOL have received the award in a prestigious ceremony that took place in the City Hall, Karlsruhe, Germany on 12 June 2014. Till May 2014, more than 3.1 million solar home systems have been installed under IDCOL SHS program, providing clean energy solution to about 14 million off-grid rural people of Bangladesh. The Program has contributed towards creation of more than 70,000 jobs, power generation of 140MW, development of local support industries and annual CO2 emission reduction of more than 538,000 tons.
May 25, 2014
Signing of BDT 54.67 million Term Loan Facility between IDCOL and Engreen Limited
A Term Loan Facility amounting BDT 54.67 million was signed between Infrastructure Development Company Limited (IDCOL) and Engreen Limited (Engreen) on 22 May 2014 at IDCOL Head Office. The facility will be utilized to install solar-diesel hybrid power solution at 40 off-grid BTSs of Banglalink Digital Communications Ltd. to ensure uninterrupted voice and data services as well as reduce operational expenses. Engreen will operate and maintain these power systems for a period of 10 years.
The Executive Director & CEO of IDCOL Mr. Mahmood Malik and the Managing Director of Engreen Mr. Md. Mushfiqur Rahman signed the facility agreement on behalf of their respective organizations.
February 5, 2014
12th Financial Modeling Training Program organized by IDCOL
IDCOL organized its 12th Financial Modeling Training Program during 3 to 4 February 2014 at Hotel Ruposhi Bangla. The Executive Director & CEO of IDCOL, Mr. Mahmood Malik inaugurated the program and Dr. Fouzul Kabir Khan, Ex-Secretary; Power Division was the chief guest during the closing ceremony. The program is intended to aid the participants in developing a better understanding regarding financial issues. 34 professionals from various institutions participated in the training program.
February 4, 2014
Signing of BDT 337.67 million Term Loan Facility between IDCOL and Pretty Auto Bricks Limited
A Term Loan Facility amounting BDT 337.67 million was signed between Infrastructure Development Company Limited (IDCOL) and Pretty Auto Bricks Limited (PABL) on 3 February 2014 at The Westin Dhaka to set up an automatic brick manufacturing project at Kapashiya, Gazipur. The Project will use Tunnel Kiln Technology, the most advanced technology, and will have a capacity to manufacture 200,000 bricks per day.
This is going to be the second project under IDCOL’s endeavour to promote energy efficient technology and reduce pollution in brick manufacturing sector. IDCOL has a plan to invest BDT 4 billion to ensure the efficient transition to environment friendly technology from the primitive polluting ones in the brick manufacturing sector.
The Executive Director & CEO of IDCOL Mr. Mahmood Malik and the Chairman of PABL Mr. Mohammad Ali Talukder signed the Facility Agreement on behalf of their respective organizations. Senior officials of both organizations were also present during the Signing Ceremony.
February 2, 2014
IDCOL donates Taka 10 lakhs to the CRP
IDCOL donated Tk. 10 lakhs to the Center for the Rehabilitation of the Paralyzed (CRP) under its Corporate Social Responsibility (CSR) program. Mr. Mahmood Malik, CEO, IDCOL handed over the cheque to Valerie A. Taylor, Founder and Coordinator, CRP. Among others, Md. Shafiq-ul Islam, Executive Director, CRP, Md. Feroz Alam, Donor Liaison Officer, CRP, M. Maftun Ahmed, Company Secretary, IDCOL and Mr. Ashrafuzzaman Khan, Administrative Officer, IDCOL were present.
January 27, 2014
IDCOL stands by the cold-ridden people of Narayanpur
IDCOL stands by the cold-ridden people of Narayanpur Char in Kurigram this winter by distributing around 3,000 blankets among them as a part of its CSR commitment. Besides, IDCOL provided 150 blankets for an orphanage named “Shishu Shorgo” in Tetulia. The program was jointly coordinated by IDCOL and Its Partner Organizations (POs).
January 22, 2014
Signing of financing agreement between IDCOL & Green Housing & Energy Limited
Infrastructure Development Company Limited (IDCOL) signed Financing Agreement with Green Housing & Energy Limited (GHEL) for setting up a 100 kW solar mini-grid Project at Lemshikhali Union, Kutubdia Island, Cox’s Bazar on 20 January, 2014. Under the Project, GHEL will provide electricity to 400 shops and 120 households. Total cost of the project is BDT 4.08 crore of which IDCOL will provide 30% of the cost as soft loan and 50% as grant under IDCOL’s Renewable Energy Program.
January 10, 2014
Signing of Financing Agreement between IDCOL & ARS Bangladesh
IDCOL executed a Financing Agreement with ARS Bangladesh on 7th January 2014 for financing 6 (six) solar irrigation pumps in Chowgacha, Jessore to provide irrigation facilities to more than 1,736 bighas of land. IDCOL will extend 40% loan of total project cost including 40% grant support for the project.