Crown Cement secures loan for 6th line

Crown Cement Plc has secured a syndicated loan facility for the construction of the sixth cement line at its plant in West Mukterpur, Munshiganj, Bangladesh. The new line will have a state-of-the-art VRM mill with the plant’s total production capacity expected to reach 19,000tpd. According to The Business Standard, the loan for BDT2500m (US$23.3m) involves a consortium of banks, including Eastern Bank Ltd, State Bank of India, Bank Asia Ltd and Dhaka Bank Ltd. 

“The milestone deal will chart a way for sustainable solutions for the cement sector of the country. This collaboration is a major step forward for fostering environmentally responsible practices and sustainable development of the industry. We are pleased to have been the lead arranger of the transaction,” said Ali Reza Iftekhar, managing director and CEO, Eastern Bank Ltd.