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.

Of the amount, Sonali Bank will disburse Tk910m, Janata Bank Tk3.44bn, Rupali Bank Tk500m and Agrani Bank Tk1bn

This year, the central bank has taken several steps against the supply of fake notes during the festival

Japan funds safety standards in Bangladesh

Shiro Sadoshima, Japanese ambassador to Bangladesh; Atiur Rahman, governor of Bangladesh Bank; Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, attend the signing of an agreement to create a Tk 100 crore fund to promote safety in the apparel sector, at the Westin hotel yesterday. Bangladesh Bank

The central bank has created a fund of Tk 100 crore with the assistance of Japan International Cooperation Agency (JICA) to improve safety standards in the apparel sector.

 
Factory owners will receive the loan from commercial banks at a maximum of 10 percent interest for rebuilding and relocating of factories and purchase of equipment.

The commercial banks should keep the interest rate low, Atiur Rahman, governor of Bangladesh Bank, said at a programme at the Westin Hotel in Dhaka.

JICA, Bangladesh Bank, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Knitwear Manufacturers and Exporters Association and the housing and public works ministry signed a deal.

The borrowers will have to repay the loan in 15 years with a grace period of two years, Bangladesh Bank said in a statement.
JICA agreed to give the fund following the Rana Plaza tragedy, under its ongoing project worth Tk 400 crore for the development of small and medium enterprises, launched in May 2011.

A technical team of JICA and engineers of the housing and public ministry will inspect the factories of loan seekers and estimate the costs,

before the banks sanction the funds, said Anisuzzaman Chowdhury, senior programme officer of JICA.

The highest limit of the individual loan is Tk 10 crore, according to the banking regulator.
Bangladesh should adopt Japanese retrofitting technology to ensure worker safety,

said Khondaker Showkat Hossain, housing and public works secretary.

Retrofitting is the process of modifying something after it has been manufactured. For buildings,

it means making changes to the systems inside the building or even the structure itself at some point after its initial construction and occupation.

Japan wants to be more involved with Bangladesh, said Shiro Sadoshima, Japanese ambassador. “We want cooperation from the public and private sectors.”

Bangladesh is seriously working to address the workplace safety and rights of workers in the apparel industry, said Atiqul Islam, president of BGMEA.

Bangladesh should work seriously to maintain its sustainable economic growth, said Hiroyuki Tomita, JICA Bangladesh Office’s senior representative.

The public and private sector should work together to achieve the highest economic growth, Tomita said.

Ishtiaque Ahmed Chowdhury, Managing Director and CEO of Trust Bank Limited, and Md. Ikram Iqbal, Director of Computer Network Systems, exchange documents after signing an agreement at the banks head office on Thursday.

Trust Bank Limited and Computer Network Systems Limited (CNSL) signed an agreement at the banks head office in Dhaka on Thursday.

Under this agreement, Trust Bank Limited will collect Motor Vehicle Taxes and Fees for BRTA, said a press release.

Ishtiaque Ahmed Chowdhury, Managing Director and CEO of the bank attended the function as chief guest.

Abu Zafar Hedaytul Islam, SEVP and Head of Operations of the bank, Md. Ikram Iqbal, Director of Computer Network Systems, Lt Col Abu Naoraz Khurshid Alam, PSC (Rtd) of Chief Operating Officer of Computer Network Systems and S M Akram Sayeed, EVP and Head of IT, ADC and Mobile Banking Division were also present at the ceremony.