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Request For CM LC Limit

Kaliganj Agro Limited is requesting a USD 30 million capital machinery LC limit from Standard Chartered Bank to invest in commodity processing facilities in Bangladesh. The COVID-19 pandemic has disrupted global supply chains and availability of raw materials. To meet domestic and export demand and minimize stock-out risks, the company's management has decided to invest in flour, feed, starch, oil, lentil, and pea processing plants. The total projected cost of the new facilities is USD 93 million. Given the supply chain issues caused by the pandemic, the company is seeking the LC limit to finance the USD 66 million capital machinery component of the investment.

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Zahed Ibrahim
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88 views2 pages

Request For CM LC Limit

Kaliganj Agro Limited is requesting a USD 30 million capital machinery LC limit from Standard Chartered Bank to invest in commodity processing facilities in Bangladesh. The COVID-19 pandemic has disrupted global supply chains and availability of raw materials. To meet domestic and export demand and minimize stock-out risks, the company's management has decided to invest in flour, feed, starch, oil, lentil, and pea processing plants. The total projected cost of the new facilities is USD 93 million. Given the supply chain issues caused by the pandemic, the company is seeking the LC limit to finance the USD 66 million capital machinery component of the investment.

Uploaded by

Zahed Ibrahim
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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March 22, 2021

Mr. Mahtab Osmani


Executive Director-Institutional Corporate Banking
Standard Chatered Bank
67, Gulshan Avenue
Dhaka-1212

Subject: Request for Capital Machinery LC limit of USD 30 Million A/C Kaliganj Agro Processing
Limited

Sir,
Kaliganj Agro Limite, a sister concern of PRAN Group, is grateful to have Standard Chartered Bank
Limited as our development partner. As you aware, the pandemic has directly affected international trade
and global supply chains that link production in multiple locations across the world. The production
disruptions related to COVID-19, emanating originally in one location, are having ripple effects
throughout supply chain networks, with widespread global intra- and inter industry impacts. During this
COVID 19 pandemic PRAN Group is facing supply chain disruption against raw material availability in
different category of production line Bakery, Juice drink, Confectionery and CSD. To meet up domestic
and export market demand, minimize raw material stock out risk and strengthen our backward linkage,
our management has decided to investment in commodity market i.e. Flour, Feed, Starch, Oil refinery,
Lentil, Yellow pea at Ekuta, Muktarpur, Kaliganj under Kaliganj Agro Processing Limited as below,

CAPEX Item name Amount in BDT In USD Million


Land and Development              900,000,000  $             11
Building and others          1,374,991,875  $             16
Capital Machinery          5,549,620,201  $             66
Total Project cost          7,824,612,076  $             93

So considering the above situation please allow us USD 30 Million capital machinery LC limit (as Annex
A). Thanking you in advance and ensuring our professional and personal co-operation.

Kind Regards

Eleash Mridha
Chairman
Annex A

Proposed Facilities, Securities and others


A/C: Kaliganj Agro Processing Limited

SL Facilities Type Limit Pricing Tenure Retirement

01 One off Capital USD 30 Million 0.10% p.q for 1 year From Own
Machinery LC Line acceptance source
Local/Import- and opening
UPAS/Sight/Supplier commission
credit
Total USD 30 Million

Security Structure:

Security Cheque covering credit limit


Directors Personal Guarantee of all directors

Eleash Mridha
Chairman

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