Ocean Aid Services to arrange foreign financing for $50m-plus power projects

Ocean Aid Services Ltd (OASL) is positioning itself as a bridge between international financiers and Bangladesh's priority energy projects, targeting ventures worth above $50 million under an engineering, procurement, construction and finance (EPC+F) model.

OASL is a Chattogram-based maritime, logistics, and industrial services company that connects international clients and financiers with local operations.

AHM Manzoor Alam, managing director of the company, said they will arrange financing for bankable projects by connecting them with qualified foreign investors and financing groups, but will not invest in the projects themselves.

"We see energy security and the clean-energy transition as complementary priorities," he said, adding that Bangladesh needs long-term capital, technology and project expertise to meet its growing infrastructure demand.

Under OASL's financing criteria, international financiers prefer projects worth more than $50 million, with a two-to-three-year implementation period and an import component.

Manzoor said no project should be treated as a committed investment until it is formally confirmed, adding that specific projects will be settled through official discussions with the relevant ministry, agency, or state entity.

OASL's immediate goal is to open official dialogue with ministries, agencies and state bodies to identify priority projects, followed by feasibility validation, term sheets and financing structures at the appropriate stage.

For EPC+F projects, government support will include naming a sponsoring ministry or state entity, confirming project priority, validating documentation and coordinating with agencies. Where the financing structure requires it, support will also include a sovereign loan arrangement through the finance ministry.

Manzoor said local participation is central to the proposed model.

"International partners will bring technology, engineering expertise, equipment, project management and finance, while OASL will handle local coordination and stakeholder engagement," the managing director said, adding that such projects could create jobs during construction and operation.

The extent of the benefits, Manzoor added, will depend on each project's size, structure and commercial performance.

He pointed to Bangladesh's additional electricity requirements towards 2030 and the relatively small share of renewables in the current mix as creating scope for renewable generation, grid upgrades and storage.