IDCOL invested USD 45 million to “Summit Barisal Power Limited” and “Summit Narayangonj Power Unit II Limited”
Infrastructure Development Company Limited (IDCOL) has recently financed two power projects of Summit Group – Summit Barisal Power Limited (a 110 MW HFO based power plant at Rupatoli Barisal) and Summit Narayangonj Power Unit II Limited (a 55 MW HFO based power plant at Madanganj Narayanganj).
IDCOL was the lead lender with an investment of USD 30 million to the Barisal project along with USD 20 million investment from Islamic Corporation for the Development of the Private Sector (ICD). On the other hand, IDCOL was the lead lender with an investment of USD 15 million to the Narayangonj project along with USD 12.64 million investment from OPEC Fund for International Development (OFID).
April 10, 2017
IDCOL financed the 1st PPP project in healthcare sector of Bangladesh
April 6, 2017
MoU signing between IDCOL & Dhaka Bank Ltd. for obtaining L/C facilities and funded facilities for the clients of IDCOL
An MOU signing ceremony was held recently between Infrastructure Development Company Limited (IDCOL) and Dhaka Bank Ltd (DBL) at the Corporate Office of Dhaka Bank Ltd. Under this agreement Dhaka Bank will allow non funded credit facilities to the common clients against the letter of comfort issued by IDCOL. Syed Mahbubur Rahman, Managing Director & CEO of DBL and Mahmood Malik, Executive Director & CEO of IDCOL signed the agreement on behalf of respective organizations. Mr. Emranul Huq, AMD; Khan Shahadat Hossain, DMD; Md. Shakir Amin Chowdhury, DMD; Md. Abu Jafar, DMD; Mr. Mehedi Zaman Khan, VP & Manager DBL Kakrail Branch; Mohammad Ainul Haque, FVP, Corporate Banking Division, DBL; Mohammed Zahidul Haque, VP & Unit Head, SMI, IDCOL; Md. Mehedi Hasan, CFA, FRM, Assistant Manager, SMI, IDCOL with other officials of both the organizations were present on the occasion.
February 26, 2017
Training on Infrastructure Financing-The Role of PPP , Jointly Organized by IDCOL & PPP Authority
Infrastructure Development Company Limited (IDCOL) and Public Private Partnership (PPP) Authority, Bangladesh jointly organized a training program on “Infrastructure Financing: The Role of PPP” during 12-13 February 2017 at IDCOL Head Office (UTC Building, Level 16, 8 Panthapath, Kawran Bazar, Dhaka-1215). The program was intended to build capacity of its potential stakeholders regarding the concept, development & financing of PPP based investments in Bangladesh. 32 professionals from various banks, financial institutions and corporate organizations actively participated in the training program. It is expected that the training will be a stepping stone to garner greater participation among local sponsors in undertaking PPP projects and initiate suitably customized financing solutions from the financial community.
February 23, 2017
IDCOL to finance setting up solar panels on rooftops of various industries of Bangladesh
IDCOL to finance setting up solar panels on rooftops of various industries of Bangladesh. The average cost of power generation from solar energy is BDT 8-9 which is equivalent to the cost of electricity bought from the state-run utility service providers. 1 kilowatt of electricity can be produced from every 100 square feet of rooftop space. So, a factory that has 1 lakh square feet of space will be able to produce 1 megawatt of electricity. Solar energy will be cheaper if the possibility of future power tariff hike is taken into consideration. Industrial solar is getting much popularity among the local industrialist.
February 20, 2017
BEPRC signs deal with IDCOL, Rahimafrooz for study on solar power
Bangladesh Energy and Power Research Council (BEPRC) on Tuesday signed a tripartite agreement with state-owned IDCOL and private firm Rahimafrooz to conduct a research to find out an alternative solar energy for solar-run irrigation pump operation during the off-season.
Deputy Secretary Saif Ahmed of BEPRC, IDCOL head of renewable energy Enamul Karim Pavel and Rahimafrooz's investigator Syed Ishtiaque signed the agreement on behalf of their respective organisations.
Officials said this has been the first research work undertaken by the newly created BEPRC in the country.
Addressing the contract signing ceremony at Biduyt Bhaban, BEPRC chairman Md Anwarul Islam Sikder said the government has been planning to set up solar-run irrigation pumps. But the irrigation pumps normally run for 3-4 months a year.
The solar plants remain idle and its electricity will have no use during the non-irrigation period.
"We want to find a sustainable business model for the solar plants to be used in pump operation so that solar plants' electricity could be utilised in a better and viable commercial way," he told the function.
As per the deal, IDCOL and BEPRC will finance a pilot project to be set up in Dinajpur. Rahimafrooz's investigator Syed Ishtiaque Ahmed and Buet's Professor Dr Ziaur Rahman will conduct the study.
The researchers will set up a pilot project and collect data for their works in first 6-8 months and then they will analyse those in the remaining time.
IDCOL's CEO Mahmood Malik, who was present on the occasion, said if the researchers could find out a successful model, it would promptly help implement the government's plant to replace thousands of diesel-run pumps into solar-run ones.
January 27, 2017
IDCOL has been announced as Joint Winner for Best Presented Annual Reports 2015 in the category of Public Sector Entities by the South Asian Federation of Accountants
IDCOL has been announced as Joint Winner for Best Presented Annual Reports 2015’ in the category of “Public Sector Entities” by the South Asian Federation of Accountants. The Trophy was handed over to Mr. S M Monirul Islam, Deputy CEO, IDCOL at a ceremony organized at Pan Pacific Sonargaon Hotel, Dhaka on 27th January 2017. Honorable Finance Minister Mr. Abul Maal Abdul Muhith MP was present in the occasion as Chief Guest and Mr. Fazle Kabir, Governor Bangladesh Bank was present in the occasion as Special Guest.
The award was given based on the publicly disclosed information in the Annual Report for the FY 2014-15 as well as other performance indicators including capital adequacy, profitability, liquidity, corporate governance, market share, contribution to the national exchequer, asset quality, CSR, risk management, regulatory compliance etc.
January 3, 2017
IDCOL signs MoU with the Ministry of Disaster Management and Relief (MoDMR) for implementation of renewable energy projects under TR/KABITA Fund