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IDCOL registers $2b investment in 25yrs

  • Sun Online Desk
  • 14th May, 2022 07:52:58 AM
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IDCOL registers $2b investment in 25yrs
Finance Division Senior Secretary Abdur Rouf Talukder along with others cuts a cake at a ceremony to celebrate the silver jubilee of Infrastructure Development Company Limited (IDCOL) at a city hotel on Friday. Bashundhara Group Managing Director Sayem Sobhan Anvir and other business leaders were present at the event. SUN photo

The Infrastructure Development Company Limited (IDCOL) has invested 2 billion US dollar in public and private projects in Bangladesh in the last 25 years.

IDCOL Chief Executive Officer Alamgir Morshed provided the information while addressing the silver jubilee celebration programme of the state-run financial institution at Le Meridian Dhaka on Friday.

The organisation started its journey in 1997 to inspire private entities in infrastructural development for renewable energy. However, the agency is now financing all sectors.

"We started with only Tk 1 lakh paid-up capital which now stands at Tk 636 crore within spans of time. IDCOL is not     only supporting the energy sector but also expanding investment in infrastructure, telecom, ICT, port, cement and other development projects," the IDCOL CEO said.

Finance Division Senior Secretary Abdur Rouf Talukder was the chief guest while Economic Division Secretary Fatima Yeasmin was special guest on the occasion.

Bashundhara Group Managing Director Sayem Sobhan Anvir was present at the function.

Senior Secretary Abdur Rauf Taluker appreciated IDCOL for transforming the rural economy by financing to the social project that generated 55 megawatt of electricity.

“There are set up 5.2 million solar plants that reduced use of 1.2 million tonnes of kerosene. And the environment protects from huge carbon emission,” he said.

IDCOL Chairman Fatima Yasmin said the organisation has taken a five-year plan to transform the country’s economy as well as to become an international agency.

“We have financed around one-third of electricity projects in the country. The company has aimed to double its asset portfolio in next five years and expand its activities beyond the country,” she said.

IDCOL Director Nihad Kabir said the board of IDCOL is very special as the organisation comprises with government officials and private sectors.

“Once IDCOL supported only renewable energy. The organisation expanded footprint in different arena, considering the commitment to the people. The economy of Bangladesh has transformed surprisingly in the last one decade and IDCOL has made a significant contribution," she said.

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Jashim Uddin, Pran-RFL Group Chairman Ahsan Khan Chowdhury, BSRM Group Chairman Ali Hossain Akbar Ali and Paragon Group Managing Director Moshiur Rahman were also present.