SAPL closes USD 30.51 million financing deal with FMO and IDCOL
SAPL closes USD 30.51 million financing deal with FMO and IDCOL

Summit Alliance Port Ltd. (SAPL), the leading private sector inland container depot operator, has availed a syndicated term loan facility from Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) and Infrastructure Development Company Limited (IDCOL) to set up the first ever private sector Inland Container River Terminal facility of the country at Muktarpur, Munshiganj. With Green Delta Capital Limited (GDCL) as the “Mandated Lead Arranger”, an aggregate financing of USD 30.51 has been raised from the two Lenders mentioned above.

To commemorate the financial closing of this landmark transaction, a closing ceremony was recently held at the Pan Pacific Sonargaon. Valued guests of the program included the chairman of SAPL Mr. Muhammed Aziz Khan along with its managing director Mr. Syed Ali Jowher Rizvi. The ceremony was also graced by the presence of the ED & CEO of IDCOL Mr. Mahmood Malik along with its Director (Investment) and Head of Advisory Mr. Nazmul Haque, the Director of GDCL Mrs. Farzana Chowdhury ACII (UK) along with the MD & CEO of GDCL Mr. Md. Rafiqul Islam, and as a representative of FMO, Senior Investment Officer, Mr. Willy Bulsink. Also present were the relevant team members of various parties of the transaction.

SAPL, through this state-of-the-art river terminal facility, will offer transportation of intermodal containers to and from the Chittagong Port, as well as Inland Container Depot (ICD) and Container Freight Station (CFS) services for handling and storage of intermodal containers. The total container handling capacity of the Project stands at 120,000 TEUs annually and the facility has started partial commercial operation from August 2015.