MI Cement to raise debt for Bangladeshi grinding unit

MI Cement Factory Ltd is expected to raise foreign currency loans from HSBC and Standard Chartered Bank to finance its sixth line at its West Mukterpur, Munshiganj district of Bangladesh, according to the company’s Senior General Manager, Mozharul Islam.

The US$70m project will add 8400tpd of grinding capacity to the site’s current capacity of 19,400tpd. Commercial production at the new unit is scheduled to start in January 2021.