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Giant Textiles gets syndicated loan of Tk 570 mn
May '10
Giant Textiles Ltd, a Giant Group company, enjoys Syndicated Term Loan facility of Tk 570 million, as the Eastern Bank Ltd makes arrangement of this loan facility to support the capital expenditure of the company for establishing a knit composite factory at Gazipur.

Banks partaking in disbursing this loan facility to Giants Group include, Bank Asia Ltd, The City Bank Limited, IFIC Bank Limited, United Commercial Bank Ltd, Trust Bank Limited, AB Bank Limited and Eastern Bank Limited.

Pertaining to this, a signing ceremony was recently organized, wherein, the senior officials from the concerned organizations marked their presence, and an agreement was signed by members of Giant Textile Ltd and the participating banks.

The overall yarn requirement of the Group would swell up to 16.35 MT per day following the establishment of Giant Textiles Ltd, knit composite factory. Also, the knitting and dyeing capacities of the group would increase to12.35 MT per day and 18 MT per day, respectively. Almost 100 percent of the knitting and dyeing capacities would be utilized by the group itself.

The Giant group, which owns 13 companies, including 8 knit and woven garment establishments, is one of the distinguished business groups of the country that generates a per annum turnover of over US $20 million.

Fibre2Fashion News Desk - India

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