M Motiur Rahman, Managing Director (MD) of Kushiyara Auto Bricks Limited, Md Ahsan-uz Zaman, MD and CEO of Midland Bank, Nazmul Haque, Director & Head of Advisory, IDCOL, posing with others at the financial closing ceremony of a loan syndication for the brick manufacturing plant in the city recently The financial closing ceremony of a loan syndication involving Tk 598 million to finance the debt portion for setting up an environment-friendly brick manufacturing plant named 'Kushiyara Auto Bricks Limited' (KABL), was held at a city hotel recently, says a statement.
Midland Bank Limited (MDB) and Infrastructure Development Company Limited (IDCOL) were the joint lead arrangers for this transaction. Participants in the loan syndication are IDCOL, Midland Bank and Union Capital Limited (UCL).
Bangladesh Bank is considering this project under 'Financing Brick Kiln Energy Improvement Project' funded by Asian Development Bank (ADB).
Kushiyara Auto Bricks Limited will use 'Automated Tunnel Kiln' (ATK) technology with a production capacity of 180,000 pieces of bricks a day. The project will be located at Bianibazar in Sylhet.
M Motiur Rahman, Managing Director of KABL, Md Ahsan-uz Zaman, Managing Director and CEO of Midland Bank, Nazmul Haque, Director (Investment) & Head of Advisory, IDCOL, Mahmudul Alam, Managing Director & CEO of UCL, Rathin Kumar Paul, Deputy General Manager, Sustainable Finance Department, Bangladesh Bank, Tika R Limbu, Unit Head, Project Administration Unit, ADB, Zhou Yong Xu, Managing Director, Huanggang Huayao Zhongyang Kiln Company Ltd., Mohammad Masoom, Additional Managing Director, Midland Bank, Md Zahid Hossain, SEVP & Head of Corporate Banking Division, Midland Bank, Nazmul Alam, Asian Development Bank and Mohammed Zahidul Haque, Head of IEEF, IDCOL, were present on the occasion.
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