EBL arranges Tk2,500m syndicated loan facility for Crown Cement

Mohammed Jahangir Alam, Chairman, Md. Alamgir Kabir, Vice Chairman, Molla Mohammad Majnu, Managing Director, Md. Mizanur Rahman Mollah, Additional Managing Director,  Md. Almas Shimul, Director, Zakir Ahmed Khan, Independent Director, Dr. M. Abu Eusuf, Independent Director of Crown Cement PLC;  Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank Limited;  Amit Kumar, Country Head- Bangladesh Operations, Sumanta Ghosh, Chief Executive Officer, State Bank of India; Emranul Huq, Managing Director and CEO of Dhaka Bank Limited; Adil Chowdhury, President and Managing Director of Bank Asia Limited and others at the deal closing ceremony of  BDT 2,500m syndicated loan facility for Crown Cement at Sheraton  Dhaka.  EBL is the Lead Arranger of the deal. Photo: Courtesy

Eastern Bank Limited (EBL) has arranged a Tk2,500 million syndicated loan facility for Crown Cement PLC, said a press release.

The deal closing ceremony was held at Sheraton Dhaka on Thursday (25 May).

A consortium of four banks namely State Bank of India, Bank Asia Limited, Dhaka Bank Limited, and Eastern Bank Limited participated in the closure of the deal.

The syndication financing will facilitate the expansion plan of Crown Cement PLC and setting up its 6th unit. The new unit will have state-of-the-art VRM technology which is environmentally friendly and produces high-quality cement. With the new unit in operation, the total production capacity of Crown Cement will reach approximately 19,000 MT per day making it one of the largest cement producers in the country.

"The milestone deal will chart a way for sustainable solutions for the cement sector of the country. This collaboration is a major step forward for fostering environmentally responsible practices and sustainable development of the industry. We are pleased to have been the lead arranger of the transaction,' said Ali Reza Iftekhar, managing deirector and CEO of EBL.