Summary of Investment Information
FIBER AT HOME LIMITED
Date SPI Disclosed
May 22, 2020
Projected Board Date
Jun 26, 2020
Regional Industry - INF Asia & Pac
Fiber@Home (“the Company”) is a Bangladesh based wholesale fiber optic network developer and operator company. In 2009, the Company was awarded the first private nationwide telecommunication transmission network (“NTTN”) license by the Bangladesh Telecommunication Regulatory Commission (“BTRC”). The Company has since developed over 48,000 km of fiber optic cable (“FOC”) in the country across both metro city regions and cross-country networks.
The proposed investment supports the Company to 1) further expand its FOC network, 2) increase network capacity through the upgradation of active equipment, 3) provide network resilience via the development of redundancy at key network nodes, and also 4) funding general working capital needs, including the development of related businesses such as data-centers (“the Project”).
Project Sponsor and Major Shareholders of Project Company
Fiber @ Home is majority owned by Mr. Moynul Haque Siddiqui and Mr. Wahidul Haque Siddiqui and their family and affiliates, with several minority investors in the shareholding structure.
Total Project Cost and Amount and Nature of IFC's Investment
The total project cost is expected to be approximately US$ 35 million, to be financed with a combination of debt and internal accruals. The proposed IFC investment is an A Loan of US$20 million.
Location of Project and Description of Site
The project involves the expansion of Fiber@Home’s nationwide network across the entire country of Bangladesh, with a focus on improving access to currently underserved regions and expansion of services to the community level. The Company is headquartered in Dhaka, with regional offices across the entire country for network expansion and maintenance.
Hyperlinks to Related Project Dossiers: