Siranjganj Power Company (IFC-36050)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Specific Location
Sirajganj District of Rajshahi division
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
A
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
Jun 2, 2016
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
SEMBCORP UTILITIES PTE LTD
The holder of the loan, grant, or other investment.
Sectors
  • Construction
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)
$ 126.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2016-06-02 exchange rate.
Project Cost (USD)
$ 412.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2016-06-02 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 4, 2017

Disclosed by Bank Dec 30, 2015


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
The project involves financing for the new construction of a power plant running on natural gas, as well as high speed diesel for back-up fuel. Water for the plant will come from the Jamuna River, 1.2 km from the project site, and will involve the construction of a 4 km water pipeline connecting the river to the site. There will also be a 1.6 km natural gas pipeline constructed, connecting the project site with a natural gas valve station. There will also be a labor camp of about 8.5 acres, constructed between the main highway and the fence of a nearby village, Punorbason. The natural gas power plant complex itself will be about 24 acres and will be situated on an already existing 70 acre power generation complex.
Investment Description
  • International Finance Corporation (IFC)
The company performing the construction is Sembcorp Utilities Pte Ltd. The project has been designated by the Government of Bangladesh as a “Public, Private Partnership” project with 29% of the equity interest to be subscribed and owned by North West Power Generation Company Limited, a state-owned power generation utility which is wholly owned by Bangladesh Power Development Board (BPDB). SCU will have 71% equity in the company, Sembcorp North-West Power Company Limited along with North West Power Generation Company Limited which will have 29% equity.
Contact Information
Contact Person: Nazmul Ahsan Company Name: Sembcorp North-West Power Company Ltd Address: House No: 1, Road no: 9C, Nikunja-1, Airport Road, Dhaka-1229, Bangladesh Email: mailto:nazmul.ahsan@sembcorp.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/