EBL to arrange Tk 332cr loan for lithium battery project
Eastern Bank Limited (EBL) will arrange a syndicated term loan facility of Tk 332.6 crore for Bangladesh Lithium Battery Limited.
To this end, EBL arranged a bank syndication meeting with the participation of prospective banks and non-bank financial institutions at a hotel in Dhaka recently, said a press release.
EBL is acting as the mandated lead arranger for the loan.
The lithium battery company will use the fund in setting up a lithium battery plant with a capacity of 1 gigawatt.
The plant will create a backward linkage to its concurrent electronic vehicle project and will effectively address the current market demand for lithium batteries.
The project is expected to significantly contribute to sustainable solutions for the energy and transportation sector of the country.
This syndication financing will also facilitate environmentally responsible practices and sustainable development in the industry.
Md Kausar Ameer Ali, managing director of Dhaka Electric Supply Company, Chowdhury Liakat Ali, director of the sustainable finance department of the Bangladesh Bank, A Mannan Khan, chairman of Bangladesh Lithium Battery, and Mir Masud Kabir, managing director, Ali Reza Iftekhar, managing director of Eastern Bank, and Ahmed Shaheen, additional managing director, Mohammad Jahangir, managing director of Rupali Bank, Ahmed Ehsanul Karim, managing director of Saudi Bangladesh Industrial and Agricultural Investment Company, and top management from different bank and non-bank financial institutions were present.
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