Bangladesh gets $193-M loan for 225MW power plant

The Ashuganj Power Station will receive a US$193 million loan for its 225 MW combined cycle power project.

Standard Chartered Bank will provide the Export Credit Agency loan.

APSCL Managing Director Nurul Alam and Standard Chartered Bangladesh’s Managing Director Abrar M Anwar signed the deal on behalf of their respective sides at a function at Bidyut Bhaban in the city on December 30.

This is the second ECA deal signed by the APSCL. Earlier, on December 20, APSCL signed another contract with HSBC to receive US$ 420 million ECA fund for its 383 MW combined cycle power plant.

The APSCL had signed a contract with its EPC contractor - South Korean Hyundai Engineering Company and Daewoo International Corporation - on October 5 last year to build the 225 MW combined cycle power plant at Ashuganj Power Station.

The project’s physical work will start from January next and will be completed by February 2015.

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