Business Desk :
Bangladesh Infrastructure Finance Fund Limited (BIFFL), a state-run specialized financial institution, is going to finance the country’s first electric vehicle manufacturing plant of Bangladesh Auto Industries Ltd (BAIL).
The signing ceremony of the syndicated term loan of Tk 167 crore was held recently in the capital, said a press release on Sunday.
The other financiers are – Agrani Bank Ltd, Islami Bank Bangladesh Ltd, Bangladesh Development Bank Ltd and First Security Islami Bank Ltd.
BIFEL CEO SM Anisuzzaman chaired the signing ceremony while Agrani Bank Managing Director and CEO Mohammad Shams-Ul Islam was the chief guest in the session.
According to the release, the proposed project’s cost is estimated to be Tk 335 crore while financing at 50:50 debt-equity ratio for 8 years term.
Fujiyan Taiyu Automobile Company Ltd of China is the technical partner of the investment.
