Financial Closure Ceremony for the Country’s Largest IPFF Syndicated Term Loan Raise for United Ashuganj Energy Limited amounting to USD 58.50 million under Lead Arrangement of Dhaka Bank Limited
A “Financial Closure Ceremony” of the Syndicated IPFF Term Loan facility of USD 58.50 million for United Ashuganj Energy Limited was held on January 20, 2016 at a hotel in the capital. This is the LARGEST ever IPFF Term Loan facility for a single project in the country. The project is a 200 MW gas fired power plant at Ashuganj. The project is the –
1st joint venture power project between the Government of Bangladesh (Ashuganj Power Station Company Limited) and a Private Company (United Enterprises & Co. Limited) in Bangladesh.
1st Combined Cycle, Modular Power Plant in Bangladesh.
The cost of the project is USD 170.00 million, which is financed at a debt-equity ratio of 70:30. The project has already started commercial operation and running smoothly.
Meanwhile, the project has won the prestigious ‘Asian Power Awards – 2015’ under 3(three) categories, such as –
GOLD for ‘Combined Cycle Power Plant of the Year’.
SILVER for ‘Fast – Track Power Plant of the Year’.
BRONZE for ‘Gas Power Project of the Year’.
Dr. Atiur Rahman, Honorable Governor of Bangladesh Bank graced the occasion as the chief guest.
Amongst other honorable guests, The Chairman and Directors of Dhaka Bank Limited, the Senior Officials of World Bank, IPFF Project Cell of Bangladesh Bank, Managing Directors of Dhaka Bank Limited, Trust Bank Limited and Mutual Trust Bank Limited, Chairman of United Group, Chairman and Managing Director of United Ashuganj Energy Limited along with other Senior officials of the respective organizations were also present in the program.
Dhaka Bank has truly cherished and brought into focus the heritage and history of Dhaka and Bangladesh from Mughal outpost to modern metropolis. Most of its presentation, publications, brand initiatives, delivery channels, calendars and financial manifestations bear Bank’s commitment to this attachment.