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.