Signing Ceremony of the Expansion Project of United Sugar Mills Limited
A Signing Ceremony for Syndication Term Loan facility of Tk. 385 million in favor of United Sugar Mills Limited (USML) was held on October 25, 2009 at the Board Room of Dhaka Bank Limited, Head Office for the Expansion Project of the existing sugar producing unit. United Sugar Mills Limited started its commercial production in June 2006 and the expansion project will increase the production capacity of the plant from 900 MT per day to 1500 MT per day.
United Sugar Mills, a sister concern of the country’s one of the largest FMCG conglomerate Meghna Group, is supplying the finished sugar in the local market with good reputation from 2006 under the Brand name “ Fresh Sugar”. The Expansion Project has been financed by 7 (Seven) Bank’s under the lead arrangement of Dhaka Bank Limited.
Mr. Mostafa Kamal, Chairman Meghna Group, Mr. Khondker Fazle Rashid, Managing Director Dhaka Bank, Mr. Erfanuddin Ahmed, Managing Director, Bank Asia, Mr. S. Prabazar, Country Manager, Commercial Bank of Ceylon Plc, Mr. Fakhrul Alam, Deputy Managing Director, Eastern Bank, Mr. Faruq M. Ahmed, Deputy Managing Director, AB Bank, Mr. Abul Shahajahan, Deputy Managing Director of Social Islami Bank, Mr. Monindra Kumar Nath, Deputy Managing Director of Mercantile Bank have signed the agreement in favor of their respective organizations. Senior Officials from the participating lenders were also present on the occasion.
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