Agrani Bank signs $1.78bn deal with RPCL-NORINCO JV

Special Correspondent

17 May, 2021 12:00 AM printer

Agrani Bank signs $1.78bn deal with RPCL-NORINCO JV

Agrani Bank General Manager Abdus Samad Patwary and RPCL-NORINCO International Power Company Secretary Mohammad Tanvir exchange documents after signing an agreement at the bank’s boardroom in the capital recently.

State-owned Agrani Bank Ltd has signed a US$1.777 billion loan deal with Bangladesh-China joint venture  power company for setting up 1,320MW coal-fired power plant at 500 acres of land in Patuakhali district.

State owned Rural Power Company Limited (RPCL) and Chinese Norinco International Power Ltd will jointly implement the project being implemented at an estimated cost of around $2.54 billion.

The loan deal styled: ‘Onshore Account Bank and Security Agent Agreement’ was signed at Agrani Bank’s board room on Wednesday, RPCL Managing Director Md Abdus Sabur said.

Agrani Bank General Manager Abdus Samad Patwary and RPCL-NORINCO International Power Ltd Company Secretary Mohammad Tanvir signed the agreement on behalf of their respective organizations.

It was first such deal signed by Agrani Bank to facilitate loan through operational support of the onshore account bank and security agent for setting up a large power plant.     

Agrani Bank Chairman Dr Zaid Bakht was present as the chief guest while Managing Director and CEO of the bank Md Shams-ul Islam presided over the signing ceremony. RPCL Managing Director Md Abdus Sabur was present as special guest.

Agrani Bank Deputy Managing Director Md Rafiqul Islam, General Manager Dr Abdullah Al Mamun were present in the programme.

 


Top