ONE Bank arranges Syndication Finance of BDT 3470m for FEL

ONE Bank has arranged Syndication Finance of BDT 3470 million for Fair Electronics Ltd., a concern of Fair Group.

The fund would be utilized for setting up a sophisticated manufacturing & assembling line of Refrigerator, Mobile & other electrical appliances with the technical assistance of world leading electronics manufacturer “SAMSUNG” at Putia, Shibpur, Narsingdi.

The project aims to offer SAMSUNG branded products at an affordable price maintaining global standard of SAMSUNG, develop capacity & competency, thus contribute to the socio-economic development of the country.

Initial Production capacity of the project would be 20,000 pcs of Refrigerator, 5,000 pcs of Air Conditioner, 1,25,000 pcs of Mobile per month with provisions to include additional production lines to cater the local market and export as well.

The Participating Lenders are BIFFL, Midland Bank, NRB Bank, ONE Bank, Pubali Bank, SABINCO, The City Bank, BASIC Bank, Dhaka Bank and Mutual Trust Bank Limited.