Bangladesh Bhola IPP (AIIB-00057)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Specific Location
Bhola, Barisal district
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 9, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Nutan Bidyut (Bangladesh) Limited
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 271.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jun 29, 2020


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Project Description

The Asian Infrastructure Investment Bank (AIIB) is considering up to USD60 million of debt financing for the construction of a greenfield 220 MW (net capacity) dual-fuel (gas as primary fuel and high-speed
diesel as back-up fuel) combined cycle power plant to be located in Bhola, an island in the Barisal district of Bangladesh. The proposed project will be implemented on a build-own-operate basis.

The stated objective of the project is to increase power generation capacity in Bangladesh and help the country meet its power demand as it faces acute power shortages.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Contact Information

Sponsor:
Contact Person: Mitesh Soni
General Manager
Shapoorji Pallonji Infrastructure Capital Company Private Limited
41/44, Minoo Desai Marg, Colaba, Mumbai - 400005, Maharashtra, India
Tel: +91-22-67490186
Fax: +91-22-67490017
Email: mitesh.soni@shapoorji.com

Borrower:
Contact Person: Jagannath Sinhamahapatra
Director
Nutan Bidyut (Bangladesh) Limited
B & B Empire, 7th Floor, Plot no.116, Block E, Banani, Dhaka - 1213, Bangladesh
Tel: +88-02-9890055
Email: j.sinhamahapatra@nutanbidyut.com

AIIB:
Contact Person: Prakash Bajoria
Project Team Leader/Private Sector Investment Operations Specialist
Asian Infrastructure Investment Bank
B-9 Financial St., Xicheng District, Beijing, China 100033
Tel: +86-10-83580145
Fax: +86-10-83580909
Email: prakash.bajoria@aiib.org

Local access for project documentation:
The full text of the ESIA and the ESMP report is available in hard copy at the project company office located in Dhaka, Bangladesh as per the address indicated above.

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.