IDCOL joins key financiers in major port infrastructure deal
Infrastructure Development Company Limited (IDCOL) has played a key role in the financial closure of a USD 100 million syndicated debt facility for RSGT Bangladesh Limited (RSGTBL), marking a significant step toward operationalising Bangladesh's first Public-Private Partnership (PPP) port project.
The financial closing ceremony took place at The Westin Dhaka, bringing together key stakeholders and financiers involved in the project. RSGTBL, an affiliate of the Red Sea Gateway Terminal Company Limited, has secured a 22-year concession to develop and operate the Patenga Container Terminal in Chattogram under the PPP framework.
IDCOL acted not only as a financier but also as a security agent, inter-creditor, and global agent for the transaction. Green Delta Capital Limited served as the Mandated Lead Arranger, facilitating the structuring and syndication process.
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Other financiers in the consortium include the Islamic Corporation for the Development of the Private Sector (ICD), Bangladesh Infrastructure Finance Fund Limited (BIFFL), and Pubali Bank PLC. This blended approach to participation, involving development finance institutions and a private commercial bank, reflects growing confidence in Bangladesh's infrastructure sector.
Md Ariful Hoque, Strategic Investment (Additional Charge) at the Bangladesh Investment Development Authority (BIDA), attended the event as a Special Guest, underscoring the project's strategic national importance.
The event was also attended by Mr Erwin Haaze, CEO of RSGTBL; Mr Alamgir Morshed, Executive Director and CEO of IDCOL; Mr Jawad Mahmood Khokhar, Unit Manager for Infrastructure, Energy, and Mining at ICD; and senior representatives from Pubali Bank PLC, including S.M. Anisuzzaman and Mohammad Ali.
This financing milestone marks a significant influx of Foreign Direct Investment (FDI) into Bangladesh's port infrastructure, which is expected to enhance port efficiency, boost trade competitiveness, and create employment opportunities. It also marks a pioneering moment in the use of syndicated project finance for critical logistics infrastructure under the PPP model.
