Muhammed Ali; Managing Director of United Commercial Bank Limited and Mohammed Jahangir Alam; Chairman, GPH Group & Managing Director, GPH Ispat Ltd sign an agreement to act as lead arranger of USD 154 million Foreign for setting up a new integrated steel

Economic Reporter :United Commercial Bank Limited (UCBL) recently signed an agreement with GPH Ispat Ltd. to act as Lead Arranger & Security Agent to raise USD 154 million (Foreign currency 140 million & local currency 14 million) equivalent to total BDT1232.00 crore for setting up a new integrated steel mill by GPH Ispat Ltd.Total cost of the project is USD 220.06 Million equivalent to BDT 1760.50 crore where UCB as Lead Arranger raise USD 154 million equivalent to total BDT1232.00 crore. Muhammed Ali; Managing Director of United Commercial Bank Limited and Mohammed Jahangir Alam; Chairman, GPH Group & Managing Director, GPH Ispat Ltd. signed the agreement on behalf of respective organizations.Among others Additional Managing Directors of UCB namely M Shahidul Islam, Mirza Mahmud Rafiqur Rahman and AE Abdul Muhaimen were present at the event.Moreover, Chairman of GPH Ispat Ltd Md Alamgir Kabir and Additional Managing Director of GPH Ispat Ltd Mohammed Almas Shimul along with senior officials of both the organizations were present at the event.