IDCOL invests $2b in 25 years
In addition to energy sector, IDCOL has also invested in infrastructure, telecom, ICT, port, and cement sectors
The Infrastructure Development Company Limited (IDCOL) has invested around $2 billion in renewable power, port, energy and infrastructure sectors through public-private partnership in last 25 years.
In line with this record, the non-banking financial institute, wants to play an active role in achieving the government's Vision-2041 goal and the renewable energy target in the total energy mix, said IDCOL Chief Executive Officer Alamgir Morshed while addressing a function marking the silver jubilee of the organisation at Le Meridien hotel in the capital on Friday.
The organisation started journey in 1997 to inspire private entities in infrastructural development focusing on renewable energy, but the agency is now financing various sectors.
"We started with only Tk1 lakh paid-up capital which now stands at Tk636 crore within a span of 25 years' time. The IDCOL is not only supporting the energy sector but also expanding investment in infrastructure, telecom, ICT, port, cement and other development projects," he said.
He also said that the NBF have financed different power generation projects in private sector with 4,000 megawatt capacity.
Along with contributing in the green energy, the IDCOL also secured many global awards including green climate fund award.
Fatima Yasmin, chairman of IDCOL and secretary of Economic Relations Division, chaired the silver Jubilee celebration.
At the event, she said that the participation of the private sector is essential for the sustainable development of Bangladesh. "IDCOL would be able to double its asset portfolio in the next five years and expand its activities beyond the country."
The programme was attended by Md Tofazzal Hossain Mia, senior secretary to the Prime Minister's Office, Md Habibur Rahman, secretary to Power Division and representatives of various corporate houses.
On behalf of the stakeholders and beneficiaries, BSRM Group Chairman Ali Hossain Akbar Ali and Paragon Group's Moshiur Rahman shared their experiences working with IDCOL.
Ali Hossain Akbar Ali said that IDCOL has been one of the best partner of BSRM's journey to reach its today's position. "The IDCOL has always been positive and cooperative in financing BSRM. In 2017, it provided TK300 crore loan to BSRM and recently Tk500 crore," he said.
Among others, Orion Group MD Salman Obaidul Karim, Basundhara Group MD Sayem Sobhan Anvir, Confidence Group Dorector Imran Karim, Senior Secretary to Finance Division Abdur Rouf Talukder, former president of Metropolitan Chamber of Commerce and Industry Barrister Nihad Kabir and IDCOL Board directors also attended the event.
