The New Nation - Internet Edition

NATION BUSINESS REPORT

General Pharmaceuticals Limited (GPL), a leading pharmaceuticals company of Bangladesh, is going to get Tk 650 million as term loan by the endeavor of Eastern Bank Ltd (EBL) with eight other foremost banks of the country through syndication.

Recently an agreement has been signed with the participating banks at Dhaka Westin Hotel.

The participating banks in this venture are Eastern Bank Ltd, AB Bank Ltd, Bangladesh Commerce Bank Ltd, Dutch-Bangla Bank Ltd, National Bank Ltd, One Bank Ltd, Pubali Bank Ltd, Standard Bank Ltd and Trust Bank Ltd.

In the signing ceremony, Managing Director of GPL Dr Momenul Haq said the construction of the new factory would be commenced this year under the guideline of UKMHRA, TGA and PICS.

Master plan of this factory, along with the state of the art production facility is designed by the world renowned Australian consultant APC.

Haq also informed that upon completion of the construction, GPL would be able to export pharmaceutical products to Middle Eastern and European countries apart meeting the local demands.

Ali Reza Iftekhar, MD and CEO of EBL expressed his appreciation to all the partners for their wholehearted support towards achieving the financial close of this milestone transaction.

The Managing Directors, Chief Executive Officers and top executives of all the participating banks were present on the occasion.