Wednesday 20 February 2019 ,
Wednesday 20 February 2019 ,
Latest News
  • Newly elected women MPs sworn in
  • PM returns home
  • 5 killed in Lalmonirhat road crash
  • DIP asks authorities to get its clearance
  • Young Turks work on floating new party
  • Untreated wastes enter Bangladesh through Agartala border
  • UK pledges support on repatriation
9 February, 2018 00:00 00 AM
Print

RFL Electronics to get $15m loan from UK’s CDC

BSS
RFL Electronics to get $15m loan from UK’s CDC

CDC, the UK’s development finance institution, will provide $15 million in loan to RFL Electronics Limited, a sister concern of PRAN-RFL Group, reports BSS.

The loan will be used to acquire equipment for producing consumer electronic goods for the local market, said a press release in the capital yesterday.

The agreement was signed between RFL Electronics and CDC on Wednesday evening at a hotel in the capital. 

Uzma Chowdhury, Corporate Finance Director of PRAN-RFL Group and Richard Palmer, CDC’s head of Corporate Debt, signed the agreement for their respective organisations.

CDC is investing alongside Standard Chartered Bank Bangladesh which is providing an additional $3 million.

RFL Electronics is now producing television, refrigerator, air-conditioner, rice cooker, blender, microwave oven, electric kettle, infrared cooker, roti maker, room heater, iron and fan under the Vision brand in Bangladesh.

The investment will support the creation of 1,500 manufacturing jobs.

Uzma Chowdhury said, “Consumer Electronics goes a long way in improving livelihood if it can be offered at affordable price. In order to make it affordable, the industry needs a setup within Bangladesh. We are delighted to have CDC as our partner.”

“As Bangladesh’s economy grows we see our investment in RFL Electronics as an opportunity to create jobs, meet the growing demand for consumer goods and help the country boost its local manufacturing,” said Richard Palmer.

Ahsan Khan Chowdhury, chairman and CEO of PRAN-RFL Group, RN Paul, managing director of RFL Group, Srini Nagarajan, head of South Asia, Rahul Shah, Nicolas Pitiot and Partha Shah, investment directors at CDC, among others, were present on the occasion.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 55.3%
No 40.9%
No Comment 3.9%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
0102
03040506070809
10111213141516
17181920212223
2425262728

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting