The managing director of Fair Electronics and senior officials of participating lenders pose for photograph at an agreement-signing ceremony recently for raising finance of Tk 3,470 million under the lead arrangement of ONE Bank Limited for Fair Electronics to establish a manufacturing and assembling unit of SAMSUNG-branded electronics items at Narsingdi ONE Bank, a private commercial bank, has arranged Syndication Finance of Tk 3,470 million (Tk 347 crore) for Fair Electronics Limited, a concern of Fair Group, says a statement.
It said the fund will be used for setting up a sophisticated manufacturing and assembling line of refrigerator, mobile phone and other electrical appliances with the technical assistance of SAMSUNG at Putia, Shibpur, Narsingdi.
SAMSUNG is a leading electronics manufacturer in the world.
The project aims to offer the SAMSUNG-branded products at an affordable price maintaining global standard of the company, develop capacity and competency which will contribute to the socio-economic development of Bangladesh.
Initial Production capacity of the project will be 20,000 pieces of refrigerator, 5,000 pieces of air conditioner (AC), 1,25,000 pieces of mobile per month with provisions to include additional production lines to cater the local market and export demands.
The participating lenders are Mutual Trust Bank Limited, BIFFL, Midland Bank, NRB Bank, ONE Bank, SABINCO, The City Bank, BASIC Bank, Dhaka Bank and Pubali Bank Ltd.
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