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The Gharibwal Cement Ltd and National Bank of Pakistan (NBP) have recently signed Rs 1.54 billion syndicated loan agreement. Financial close of the new Gharibwal project was achieved with the signing of this loan facility, according to a statement of Gharibwal Cement on Friday.
The loan has been raised by the Gharibwal Cement for setting up a new 6,700 tonnes per day dry processor line. At present Gharibwal has 1,800 tonnes per day capacity. The generation period of the new plant is expected to be about two years.
The statement said that Gharibwal has already appointed M/s Tianjin Cement Design and Research Institute China as their contractors for the new production line.
The other members of the NBP led syndicate are Picic Commercial Bank, Picic (DFI), Saudi Pak Leasing Company, Saudi Pak Industrial & Agriculture Investment Company, Saudi Pak Commercial Bank and the Bank of Punjab. NBP and Saudi Pak Leasing were the arranger and advisor of this loan facility.

Copyright Business Recorder, 2005

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