K&M was engaged to implement Bangladesh’s first Independent Power Project (IPP). K&M was responsible for the technical, commercial, financial and legal aspects of the project, and chose to structure and tender it on a Build-Own-Operate-Transfer (BOT) basis.
K&M conducted a feasibility assessment, analyzed the sector institutional and regulatory framework to structure the deal, developed the security package and project agreements, determined adequate tariff levels, identified project financing resources, managed the international tendering process and provided negotiation support. K&M also analyzed wholesale operation procedures, regional energy issues related to the development of offshore gas fields, regional pipeline transportation options, and gas transfer pricing.
The $300 million Meghnaghat natural gas-fired combined cycle project achieved financial close in 2001. The project was recognized as “Asia Power Project Deal of the Year” in 2001 by Project Finance International.