City: Rupshi

active

Rupshi Flour Mills Limited (“Rupshi” or “the Company”) is a greenfield flour refining plant with a capacity of 5,000 MT per day in City Economic Zone in Rupshi, 30km south of Dhaka, Bangladesh (“the Project”). Once operational, the Company will produce Atta, Maida, and Semolina flours primarily targeting the domestic market.The Company is a member of City Group, an established conglomerate consisting of leading food processing and packaged product companies in Bangladesh. City Group is promoted by Mr. Fazlur Rahman, with his wife Mrs. Hamida Rahman and his children Mr. Hasan Rahman, Ms. Shampa Rahman, Ms.Farzana Rahman, and Ms. Razia Sultana Deepa (together “the Sponsors”).IFC is proposing to provide a senior secured A Loan of up to EUR 14 million of up to 8 years’ tenor; and an additional BDT 500 million in local currency denominated loan for a tenor of up to 6 years to support the Project. The balance of the project cost will be funded by Export Credit Agency (“ECA”) backed financing, local currency financing, and the Sponsor’s equity contribution.