StanChart raises $190m from international lenders for Summit Meghnaghat
Thursday, 17 July 2014
Standard Chartered Bank Bangladesh has closed the largest ever project financing deal in power sector of Bangladesh, said a statement.
This is a Long Term (LT) Project Financing for Summit Meghnaghat Power Company limited (SMPCL), a 335MW Dual Fuel fired power plant.
The Bank raised $190 million from international lenders for the electricity plant of Summit Meghnaghat Power Company Ltd. The investors include DEG of Germany, FMO of the Netherlands, Opec Fund for Industrial Development of Austria, CDC Group of the UK, OeEB (Development Bank of Austria), Belgian Investment Company for Developing Countries, and Infra-structure Development Company Ltd of Bangladesh.
Muhammed Aziz Khan, Chairman of Summit Group, attended with Abrar A Anwar, Acting Chief Executive Officer of Standard Chartered Bangladesh, Ayesha Aziz Khan, Director of Summit Group, and other senior officials from both companies at the bank's headquarters in Dhaka.