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The Financial Express

IDCOL, BIFFL to raise Tk 400m for Usa Agro, Auto Bricks

Published: December 16, 2017 00:32:22


senior officials of IDCOL, BIFFL and UAABL are also seen in the picture. senior officials of IDCOL, BIFFL and UAABL are also seen in the picture.

A Syndicated Term Loan Facility amounting BDT 400.00 million will be raised by Infrastructure Development Company Limited (IDCOL) for Usa Agro and Auto Bricks Limited (UAABL) for setting up a tunnel kiln-based automated brick manufacturing project at Lebukhali, Dumki, Patuakhali.

Bangladesh Infrastructure Finance Fund Limited (BIFFL) is a participating lender.

A signing ceremony was held among UAABL, IDCOL and BIFFL recently at Hotel Sarina in the city, said a statement.

The project will have the capacity of producing 120,000 bricks per day. UAABL will produce bricks-based on coal gasification based tunnel kiln technology.

The Deputy CEO & CFO of IDCOL, Executive Director & CEO of BIFFL and the Chairman & MD of UAABL along with other high officials of the company were present at the ceremony.

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