The Deputy CEO of IDCOL S.M. Monirul Islam, Executive Director and CEO of BIFFL S.M. Formanul Islam and Managing Director of UAABL Ayeub Ali Khan signed the Term Loan Facility Agreement on behalf of their entities. Other senior officials of IDCOL, BIFFL and UAABL are also seen in the picture. A Syndicated Term Loan Facility amounting BDT 400.00 million will be raised by Infrastructure Development Company Limited (IDCOL) for Usa Agro and Auto Bricks Limited (UAABL) for setting up a tunnel kiln-based automated brick manufacturing project at Lebukhali, Dumki, Patuakhali.
Bangladesh Infrastructure Finance Fund Limited (BIFFL) is a participating lender.
A signing ceremony was held among UAABL, IDCOL and BIFFL recently at Hotel Sarina in the city, said a statement.
The project will have the capacity of producing 120,000 bricks per day. UAABL will produce bricks-based on coal gasification based tunnel kiln technology.
The Deputy CEO & CFO of IDCOL, Executive Director & CEO of BIFFL and the Chairman & MD of UAABL along with other high officials of the company were present at the ceremony.
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