EBL to arrange syndication loan for lithium battery project
To arrange a syndicated term loan facility for Bangladesh Lithium Battery Limited for an amount of Tk3,326 million, Eastern Bank Limited (EBL) arranged a bank syndication meeting with the participation of prospective banks and non banking financial institutions at a city hotel, yesterday.
EBL is acting as the mandated lead arranger for the loan, said a press release.
Bangladesh Lithium Battery will use the fund in setting up a lithium battery plant with a capacity of 1GW. The plant will create a backward linkage to its concurrent electronic vehicle project and will effectively address the current market demand for lithium batteries.
The project is expected to significantly contribute to sustainable solutions for the energy and transportation sector of the country. This syndication financing will also facilitate environmentally responsible practices and sustainable development in the industry.
Keep updated, follow The Business Standard's Google news channel
