B-R Powergen gets nod to borrow from abroad

The standing committee on hard term loan yesterday approved the proposal from B-R Powergen to borrow from a German bank on the condition that the power plant would get listed as it starts generation.

The approval came at a meeting chaired by Finance Minister AHM Mustafa Kamal.

“I hope public companies will get listed on the capital market one by one like B-R Powergen,” Kamal said.

The loan amount is 93 million euros and the interest rate would be 6 month EURBOR + 0.8 percent. Loan repayment will start in fiscal 2023-24 and the amount must be paid off over a 15-year period, which includes one year’s grace period.

The 150 megawatt diesel-based power plant will be set up at Sreepur of Gazipur.