Quick Facts

Where the impacts of the investment may be experienced.
  • Bangladesh
Location: Ashuganj, Brahmanbaria
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-01-19
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: United Ashuganj Eenergy LTD
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Construction
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 43.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 170.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported
Converted using 2016-01-19 exchange rate.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-07
Disclosure Date: 2015-06-10
United Ashuganj Energy Ltd.

Project Description
This project provides funding with the intention of constructing a power plant that operates on 20 natural gas engines, 20 waste heat recovery boilers, and one steam turbine-generator. It is claimed that no displacement of persons is expected since the project is planned to be built on an existing power complex. There is an already existing 600 meter pipeline to pump water to the plant, and a 1 km buried pipeline to supply the natural gas.
Investment Description
Contact Information
Name: Rahat Bin Kamal Organization: United Enterprises & Co. Ltd (UECL) Designation / Department: Assistant Manager (Corporate Affairs) Cell Phone: +8801914-001457, Email: mailto:rahat@united.com.bd Address: United Center, House# NW(J)6, Road# 51, Gulshan – 2, Dhaka-1212, Bangladesh Website: http://www.united.com.bd/ ACCOUNTABILITY MECHANISM OF IFC: The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/