Eastern Bank arranges Tk240cr for Samuda Chemical Complex
Eastern Bank Ltd along with 9 local and two foreign banks has arranged a total Tk240 crore for Samuda Chemical Complex Ltd to set up a plant at Gazaria in Munshiganj.Of the amount, Tk115 crore is term loan and Tk125 crore is import facility, says a press release. A syndication agreement to this effect was signed at a function on Wednesday in Dhaka between the chemical company, EBL and 11 other banks -- Agrani Bank, AB Bank Ltd, Bank Alfalah Ltd, Brac Bank Ltd, Jamuna Bank Ltd, IFIC Bank Ltd, Mercantile Bank Ltd, Pubali Bank Ltd, Trust Bank Ltd, Uttara Bank Ltd and State Bank of India. EBL is the agent and account bank for this transaction. The new plant with a production capacity of 195 tonnes a day is expected to come into operation in 2008 and will produce hydrogen per oxide, caustic soda and 5 other bi-products.
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