IDCOL extends 350C long-term loan to Premier Cement Mills.
Infrastructure Development Company Limited (IDCOL) extends Tk350 crore long-term loans to Premier Cement Mills, and in this regard, a loan agreement has been signed between IDCOL and Premier Cement Mills at Dhaka’s Pan Pacific Sonargaon Hotel.
Under this facility, IDCOL is providing long-term financing to expand the capacity of Premier Cement Mills through a Vertical Roller Mill (VRM) facility, reads a press release. This technology is the most energy-efficient technology in the cement manufacturing industry.
Through this expansion, Premier Cement Mills has increased its capacity from the existing ball mill facility of 8000MT/day to 19,040 MT/Day by the addition of the VRM with 11,040 MT/day capacity. The new VRM unit reached commercial operation in July 2022.
IDCOL is a financial institution owned by the government that provides funding for private sector infrastructure, renewable energy and energy efficiency projects.
It is playing a major role in bridging the financing gap for developing infrastructure and renewable energy projects in Bangladesh. The company now stands as the market leader in these sectors.
The signing ceremony was attended, among others, by Mohammed Amirul Haque, chairman of Premier Cement Mills; Alamgir Morshed, executive director and CEO, IDCOL, Nazmul Haque, chief investment officer, IDCOL, Humaira Azam, managing director, Trust Bank, Md Amin Helaly, vice president, FBCCI.
