Syndicated investment facility worth Tk 630m for spinning mills
Sunday, 7 October 2007
FE Report
A syndicated investment facility worth Tk 630 million for Outpace Spinning Mills Limited has been arranged by EXIM Bank Limited.
EXIM Bank is the lead arranger and agent bank of the syndicated loan. Other banks of the syndication are Prime Bank Limited, Southeast Bank Limited and Shahjalal Islami Bank Limited.
The investment agreement was signed at the EXIM Bank head office in the city recently.
Chaired by EXIM Bank Managing Director (MD) Kazi Masihur Rahman, the signing ceremony was attended, among others, by Prime Bank Limited MD M Shahjahan Bhuiyan, Southeast Bank Limited MD Neaz Ahmed, Shahjalal Islami Bank Limited MD Mohmmed Ali, Outpace Spinning Mills Limited Chairman Md Reazzat Ali, MD Razeeb Haider, Director Al Mamun and Rahana Khanum.
Also present at the ceremony were Exim Bank Additional Managing Director Ekramul Hoque, Deputy Managing Drector Sirajul Islam Bhuiyan, Senior Executive Vice-President Mohammed Haider Ali Miah, Executive Vice-President Md Karimuzzaman, Executive Vice-President and its Gulshan branch Manager Rumy Ehsanul Hoque, Senior Vice-President Md Akhtar Hossain, Senior Vice-President Shah Md Abdul Bari, Senior Vice-President Sheikh Moyeen Uddin, Senior Vice-President Humayun Kabir and Senior Vice-President Bashirul Islam along with senior officials of both the sides.
The project cost will be approximately Tk 900 million (90 crore) of which approximately Tk 630 million will be in the form of syndicated loan.
The project is designed for establishing a 30,000= spindle spinning mills at Mawna, Sreepur, Gazipur for manufacturing one hundred per cent cotton carded and combed yarn of different counts.
Annual expected sale is about Tk 900 million. Initially the project will create direct employment opportunity for about 400 people. The project will be an import substitute one.
A syndicated investment facility worth Tk 630 million for Outpace Spinning Mills Limited has been arranged by EXIM Bank Limited.
EXIM Bank is the lead arranger and agent bank of the syndicated loan. Other banks of the syndication are Prime Bank Limited, Southeast Bank Limited and Shahjalal Islami Bank Limited.
The investment agreement was signed at the EXIM Bank head office in the city recently.
Chaired by EXIM Bank Managing Director (MD) Kazi Masihur Rahman, the signing ceremony was attended, among others, by Prime Bank Limited MD M Shahjahan Bhuiyan, Southeast Bank Limited MD Neaz Ahmed, Shahjalal Islami Bank Limited MD Mohmmed Ali, Outpace Spinning Mills Limited Chairman Md Reazzat Ali, MD Razeeb Haider, Director Al Mamun and Rahana Khanum.
Also present at the ceremony were Exim Bank Additional Managing Director Ekramul Hoque, Deputy Managing Drector Sirajul Islam Bhuiyan, Senior Executive Vice-President Mohammed Haider Ali Miah, Executive Vice-President Md Karimuzzaman, Executive Vice-President and its Gulshan branch Manager Rumy Ehsanul Hoque, Senior Vice-President Md Akhtar Hossain, Senior Vice-President Shah Md Abdul Bari, Senior Vice-President Sheikh Moyeen Uddin, Senior Vice-President Humayun Kabir and Senior Vice-President Bashirul Islam along with senior officials of both the sides.
The project cost will be approximately Tk 900 million (90 crore) of which approximately Tk 630 million will be in the form of syndicated loan.
The project is designed for establishing a 30,000= spindle spinning mills at Mawna, Sreepur, Gazipur for manufacturing one hundred per cent cotton carded and combed yarn of different counts.
Annual expected sale is about Tk 900 million. Initially the project will create direct employment opportunity for about 400 people. The project will be an import substitute one.