IIDFC to arrange syndicated loan for BISCO
Wednesday, 17 September 2008
Industrial and Infrastructure Development Finance Company Limited (IIDFC) will act as the lead arranger for raising syndicated financing of Tk 1,935 million for BSRM Iron and Steel Company Limited (BISCO), a concern of BSRM Group, for setting up a billet casting plant in Nasirabad Industrial Area in Chittagong.
In this connection, a memorandum of understanding (MoU) was signed between the two organisations in the city recently, said a press release.
Chairman of BISCO Alihussain Akberali and Managing Director of the IIDFC Limited Asaduzzaman Khan signed the agreement on behalf of their respective organisations.
With the loan the BSRM Group will instal a 1,48,500 TPA billet making plant under a new concern named BISCO to meet the growing demand for billets in the country.
Among others, Chairman of the IIDFC Limited M Matiul Islam, Deputy Managing Director Proshanta K Halder, Head of Structured Finance Kh Shafiqur Rahman and Assistant Vice President and Head of Operations (Structured Finance) ASM Arif, and General Manager of BISCO Kazi Anwar Ahmed and Consultant Tapan K Podder were present at the MoU signing ceremony.
In this connection, a memorandum of understanding (MoU) was signed between the two organisations in the city recently, said a press release.
Chairman of BISCO Alihussain Akberali and Managing Director of the IIDFC Limited Asaduzzaman Khan signed the agreement on behalf of their respective organisations.
With the loan the BSRM Group will instal a 1,48,500 TPA billet making plant under a new concern named BISCO to meet the growing demand for billets in the country.
Among others, Chairman of the IIDFC Limited M Matiul Islam, Deputy Managing Director Proshanta K Halder, Head of Structured Finance Kh Shafiqur Rahman and Assistant Vice President and Head of Operations (Structured Finance) ASM Arif, and General Manager of BISCO Kazi Anwar Ahmed and Consultant Tapan K Podder were present at the MoU signing ceremony.