DHAKA: SEMBCORP Industries’ subsidiary, Sembcorp North-West Power Company, has secured project financing for its Sirajganj power project in Bangladesh. “Sembcorp’s Sirajganj power plant will allow us to provide cost-effective and reliable energy solutions to the country over a period of 22.5 years upon its completion,” said Sembcorp’s group president and CEO, Tang Kin Fei.
Philippe Le Houérou, executive vice-president and CEO of International Finance Corporation (IFC), a member of the World Bank Group, added: “This project has the potential to have a significant development impact – by alleviating Bangladesh’s electricity shortages, lowering the cost of generation, and helping the country meet its growing demand for power.” IFC, together with Singapore-based infrastructure project financing firm, Clifford Capital, and the British government’s development finance institution, CDC Group, each have a share of US$103 million in the total project finance debt.
