IPDC signs Tk150m debt financing deal with BSRM
Industrial Promotion and Development Company of Bangladesh (IPDC) will provide Tk 150 million debt financing to Bangladesh Steel Re-rolling Mills Limited (BSRM) for its project expansion.An agreement to this effect was signed between the two organisations in Dhaka recently, says a press release. Alihussain Akberali, chairman and managing director of BSRM, and Shah A Sarwar, managing director and CEO of IPDC, inked the deal on behalf of their sides. BSRM, a unit of H Akberali Group of Industries, having 50 years experience exclusively in steel making, is one of the largest automatic steel re-rolling mills in the country. IPDC, set up in 1981 by Bangladesh government and four other international financial institutions, is the first non-banking financial institution to promote industrial development in the private sector of Bangladesh.
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