City Bank has recently arranged funding to help set up a heavy fuel oil (HFO) fired Power Plant of Doreen Group named Manikganj Power Generations Limited (MPGL), which has capacity of 162 MW, and is located at Shingair, Manikganj, Bangladesh.

Under the syndication arrangements, City Bank has arranged long term loan facilities totaling BDT 742 crore taka from Bank Asia Limited, Eastern Bank Limited and itself. City Bank participated in the syndication with BDT 217 crore taka and provided Credit Guarantee of BDT 525 crore taka against which Bank Asia and Eastern Bank have financed their prat.

The Financial Closure Ceremony took place in Renaissance Dhaka Gulshan Hotel. Tahzeeb Alam Siddique MP, Managing Director, Manikganj Power Generations Limited, Mashrur Arefin, Managing Director & CEO, City Bank, Md. Arfan Ali, President & Managing Director, Bank Asia Limited and Ahmed Shaheen, Deputy Managing Director and Head of Corporate Banking Bangladesh, Eastern Bank Limited, were present the occasion. Sheikh Mohammad Maroof, Additional Managing Director, Mostafa Moin, CEO, Manikganj Power Generations Limited, Mohammad Jahangir Alam, Cluster Head, Public sector, PPP & Service sector, City Bank and Mahbub Jamil, Head of Structured Finance, City Bank were also present.