IDCOL to offer Tk 300cr in power funds
The Infrastructure Development Company Limited (IDCOL) will provide Tk 300 crore in financing to install rental power projects to add 530MW electricity to the national grid.
"We are committed to lend the money but the proposal should be very specific and time-bound," said Islam Sharif, chief executive officer of IDCOL.
He said they could provide another Tk 700 crore (in foreign currency) if needed.
To implement the power projects, the government needs Tk 2,100 crore, according to the Power Development Board (PDB).
IDCOL is playing a major role in bridging the financing gap for developing medium and large-scale infrastructure and renewable energy projects in Bangladesh.
In less than a decade, the company has become the market leader in financing the private sector energy and infrastructure.
PDB received 63 bids for installation of eight rental power plants, which is scheduled to come into operation by next year.
However, it set a target to sign contracts with selected bidders by November 31.
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