BEXIMCO Limited, the Bangladeshi conglomerate, has finalised a € 32.5 million expansion plan for its Knit Fabric Facility even as a press communiqué issued by BEXIMCO maintained ING Bank and Germany’s ECA-Euler Hermes are funding the project, which is expected to foster the expansion and upgrading of its vertically integrated textile manufacturing plant.
According to reports, the milestone, which furthered BEXIMCO’s global presence, actualised the import of advanced German and other textile equipment through a German exporter; sourcing competitive equipment financing from ING Bank, with an insurance-backed cover from Germany’s Export Credit Agency (ECA) even if the deal has aggregated 38 equipment suppliers in a single export contract through their international strategic financial advisor – M/s Blend Financial Services Ltd.
The loan agreement in this direction has been signed by Anil Kumar Maheshwari, COO, on behalf of BEXIMCO Limited and Lukas Strauch, Director and B Ponsioen, MD on behalf of the ING Bank.
