Confidence Power Holdings Ltd recently signed a Memorandum of Understanding with Infrastructure Development Company Limited (IDCOL) to raise USD 135 million term loan facility for establishment of three HFO-fired IPP power plants in Bogra, Rangpur and Chittagong having combined capacity of 280 MW.
Confidence Power Holdings Ltd is an associate company of Confidence Cement Ltd and concern of Confidence Group.
Confidence Power Bogra Limited, Confidence Power Rangpur Limited, and Zodiac Power Chittagong Limited will establish the said power plants at an estimated cost of USD 220 million with brand new European engines from MAN and Rolls-Royce.
All power projects are expected to go into commercial operation by 2018.
Khalid Islam, Managing Director of CPHL and Mr. Mahmood Malik, Executive Director & CEO of IDCOL signed the MoU on behalf of their respective companies for the arrangement of the term loan.
Engr. Rezaul Karim, Chairman of Confidence Group and other officials of Confidence Group and IDCOL were present to grace the signing ceremony, said a statement.
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