Dhaka Bank Limited has arranged Tk 9,000 million for Bashundhara Oil and Gas Company Limited (BOGCL) as the lead arranger for supporting the production of bitumen, a major element for infrastructure development.

The private lender made the announcement of the syndicated term facility for BOGCL at a function at a city hotel on Wednesday, said a press release.

Bashundhara Group Chairman Ahmed Akbar Sobhan, Managing Director Sayem Sobhan Anvir and Dhaka Bank Managing Director Emranul Huq were present at the function.

The participants hailed the syndicated loan for the bitumen plant of Bashundhara, saying the economy and people of the country will greatly benefit from the development of the industries that substitute import and save foreign currency.

Dhaka Bank is acting as the lead arranger and agent of this transaction where Southeast Bank, Social Islami Bank, NRB Bank, South Bangla Agriculture and Commerce Bank and Saudi-Bangladesh Industrial & Agricultural Investment Company (SABINCO) participated.

Southeast Bank Managing Director Kamal Hossain, Social Islami Bank MD Zafar Alam, NRB Bank MD Mamoon Mahmood Shah, SBAC Bank MD Habibur Rahman and SABINCO MD Ahmed Ehsanul Karim were also present on the occasion.

The bitumen plant located at Keraniganj on the outskirts of the capital has an annual capacity of 1700,000 tonnes.