24th November 2021
EP Report

Five banks and non-bank financial institutions are going to provide a syndicated loan of Tk 167 crore for the country's first electric vehicle (EV) manufacturing plant of Bangladesh Auto Industries Ltd (BAIL).


The proposed project's cost is estimated to be Tk 335 crore. The remaining amount will come from equity and foreign direct investment.


Bangladesh Infrastructure Finance Fund Ltd (BIFFL) is the loan's lead arranger. The others are Agrani Bank Ltd, Islami Bank Bangladesh Ltd, Bangladesh Development Bank Ltd and First Security Islami Bank Ltd.


According to the BAIL, the BIFFL would contribute Tk 75 crore and the banks the rest Tk 92 crore.


A financing agreement between the BAIL and the financers was signed at Dhaka Club recently.


The BAIL has almost completed setting up the factory on 100 acres of land at Bangabandhu Sheikh Mujib Shilpa Nagar, Chattogram.

More News

leave a comment

Create Account

If you have already registered , please log in

Log In Your Account

Download The Anniversay 2018