SM2PCL (IFC-40178)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
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
Proposed
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.
Borrower
Summit Meghnaghat II Power Company Limited
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 515.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 4, 2018

Disclosed by Bank Dec 4, 2017


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Project Description
Summit Meghnaghat II Power Company Limited (hereinafter referred to as “SMIIPCL” or the “Sponsor”), a wholly owned subsidiary of Summit Corporation Limited (“SCL”), is proposing to set up a dual fuel fired combined cycle power project with net generation capacity of 589.750 MW on Regasified Liquid Natural Gas (RLNG) and 541.220 MW on High Speed Diesel (HSD) at Meghnaghat Power Hub (hereinafter referred to as the “Project”), in Narayanganj District of Dhaka Division, Bangladesh. The project site is located approximately 40 km south-east of Dhaka on the north bank of River Meghna. SCL, subsidiary of Summit Power International Pte. Ltd. (“SPIPL”), an existing IFC client and the largest private sector power generation company in Bangladesh with an installed capacity of 1,423 MW. The project cost is estimated to be around 515 million USD.
Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information
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