Charka Textile to set up composite knitwear plant

Charka Textile Limited, a sister concern of PRAN-RFL Group, will set up a composite knitwear plant, says a press release.
Charka Textile has signed an agreement to this effect with IIDFC (Industrial and Infrastructure Development Finance Company Limited) under which the IIDFC will act as a lead arranger for raising syndicated financing of Tk 50 crore.
Major General Amjad Khan Chowdhury (Retd), chief executive of PRAN-RFL Group, and M Matiul Islam, chairman of IIDFC, signed the agreement on behalf of their respective organizations.
Kh Shafiqur Rahman, head of Structured Finance, and ASM Arif, assistant vice president (structured finance) of IIDFC, and Sebun Kr. Naha, senior manager, Corporate of PRAN-RFL Group, were also present.
Charka Textile, a new venture of PRAN-RFL Group, will be producing and marketing various type of garment product under its own brand.