Business

‘B-R Powergen to get listed on capital market’

Says finance minister
The standing committee on hard term loan approves the proposal from B-R Powergen to borrow from a German bank on condition. Finance Minister AHM Mustafa Kamal speaking at a meeting on the issue on August 6, 2019. Photo: Collected

The standing committee on hard term loan today approved the proposal from B-R Powergen to borrow from a German bank on the condition that the power plant would get listed as it starts generation.

The approval came at a meeting chaired by Finance Minister AHM Mustafa Kamal.

“I hope public companies will get listed on the capital market one by one like B-R Powergen,” Kamal said.

The loan amount is 93 million euros and the interest rate would be 6 month EURBOR + 0.8 percent. Loan repayment will start in fiscal 2023-24 and the amount must be paid off over a 15-year period, which includes one year’s grace period.

The 150-megawatt diesel-based power plant will be set up at Sreepur of Gazipur.

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