Setting up Ceramic Factory in Habiganj

Managing Director and CEO of Prime Bank Limited Md. Ehsan Khasru, and Managing Director of Star Ceramics Pvt Ltd Syed AK Anwaruzzaman, seen at a syndicated loan agreement signing ceremony at a hotel in Dhaka on Thursday.

Prime Bank Limited has arranged a syndicate loan of Tk 3960 million for Star Ceramics Pvt. Limited (SCPL) for setting up a factory in Habiganj with a capacity to manufacture tiles unit of 24000 square metres and sanitary unit of 2000 pieces per day.

The syndicated loan agreement was signed between Prome bank and seven other banks at a local hotel in Dhaka on Thursday.

Other banks are Mutual Trust Bank Ltd, Trust Bank Limited, The City Bank Ltd, Mercantile Bank Ltd, National Credit and Commerce Bank Ltd, Meghna Bank Ltd and ONE Bank Ltd, and Saudi-Bangladesh Industrial and Agricultural Investment Company Ltd, said a press release.

Managing Director and CEO of Prime Bank Limited Md. Ehsan Khasru, Additional Managing Director of Mutual Trust Bank Limited Md. Ahsan-uz Zaman, SEVP and Head of Operations of Trust Bank Limited Abu Zafar Hedaytul Islam, Deputy Managing Director of Meghna Bank Ltd Md. Nazrul Hussain, Managing Director of Mercantile Bank Limited Md. Abdul Jalil Chowdhury, Additional Managing Director of NCC Bank Ltd Golam Hafiz Ahmed, Deputy Managing Director of The City Bank Ltd Sheikh Mohammad Maroof, Managing Director of ONE Bank Ltd M. Fakhrul Alam, Managing Director of Saudi-Bangladesh Industrial and Agricultural Investment Company Ltd Quazi Shairul Hassan, and Managing Director of Star Ceramics Pvt Ltd Syed AK Anwaruzzaman signed the agreement on behalf of their respective organisations.

Deputy Managing Director and CBO of Prime Bank Limited Kanti Kumar Saha delivered welcome address while Chief Operating Officer of Star Ceramics Pvt Ltd Md. Moallimul Islam presented the details on the project.

Mentionable, the project under the syndication loan deal will be built at Madhabpur in Habiganj. Total project cost is estimated at Tk 5693 million where the syndication loan is Tk 3960 million.

The project will be established with the latest and advanced machinery imported from the renowned Italian ceramic machine manufacturer SACMI where two types of products will be produced.

Prime Bank has started its journey in loan syndication market by successfully concluding its first syndication in 1999 and sp far has ended 22 syndication deals.