Ghorasal power plant

HSBC to arrange $333m credit

The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh yesterday signed an agreement with the Bangladesh Power Development Board (BPDB) to arrange USD 333 million Export Credit Agency (ECA) backed credit facilities for financing the 416 Mega Watt (MW) Ghorasal Third (3rd) Unit Repowering Power Plant Project in Ghorasal, Narsinghdi, says a press release.
PDB which owns fifty-four percent of country’s total generation capacity along with its subsidiary companies will be implementing the project.
The government will provide sovereign guarantee to support the implementation, which will take three years to complete and plans to increase the total electricity generation capacity from existing 12,071MW to 24,000MW by the year 2021.
Md Zahurul Haque, secretary, BPDB and Arnaud Cachard, head of Export Finance, Asia Pacific, HSBC, signed the agreement on behalf of their respective organizations, it added.
Dr Tawfiq E Elahi Chowdhury, energy adviser to the Prime Minister, Monowar Islam, secretary, Power Division, Md Shamsul Hasan Miah, chairman, BPDB, and Francois de Maricourt, chief executive officer, HSBC Bangladesh, were present at the signing ceremony along with other senior officials of both organisations.
Francois de Maricourt, CEO, HSBC Bangladesh, said, “We are honoured to be the Mandated Arranger for ECA-backed credit facility for financing the 416 Mega Watt (MW) Ghorasal Third (3rd) Unit Repowering Power Plant Project and proud to support Bangladesh’s economic growth by facilitating the increase of electricity generation capacity.”
HSBC has successfully arranged approximately USD 1.12 billion of financing to implement four major power projects (approximately total 1,300MW) for BPDB and its subsidiaries, including this project.

 

Ghorasal power plant

HSBC to arrange $333m credit

The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh yesterday signed an agreement with the Bangladesh Power Development Board (BPDB) to arrange USD 333 million Export Credit Agency (ECA) backed credit facilities for financing the 416 Mega Watt (MW) Ghorasal Third (3rd) Unit Repowering Power Plant Project in Ghorasal, Narsinghdi, says a press release. PDB which owns fifty-four percent of countrys total generation capacity along with its subsidiary companies will be implementing the project. The government will provide sovereign guarantee to support the implementation, which will take three years to complete and plans to increase the total electricity generation capacity from existing 12,071MW to 24,000MW by the year 2021. Md Zahurul Haque, secretary, BPDB and Arnaud Cachard, head of Export Finance, Asia Pacific, HSBC, signed the agreement on behalf of their respective organizations, it added. Dr Tawfiq E Elahi Chowdhury, energy adviser to the Prime Minister, Monowar Islam, secretary, Power Division, Md Shamsul Hasan Miah, chairman, BPDB, and Francois de Maricourt, chief executive officer, HSBC Bangladesh, were present at the signing ceremony along with other senior officials of both organisations. Francois de Maricourt, CEO, HSBC Bangladesh, said, We are honoured to be the Mandated Arranger for ECA-backed credit facility for financing the 416 Mega Watt (MW) Ghorasal Third (3rd) Unit Repowering Power Plant Project and proud to support Bangladeshs economic growth by facilitating the increase of electricity generation capacity. HSBC has successfully arranged approximately USD 1.12 billion of financing to implement four major power projects (approximately total 1,300MW) for BPDB and its subsidiaries, including this project.